Canaccord Genuity Group Forecasts Strong Price Appreciation for YETI (NYSE:YETI) Stock

YETI (NYSE:YETI) had its price target increased by research analysts at Canaccord Genuity Group from $37.00 to $40.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective points to a potential downside of 19.23% from the company’s previous close.

Several other research firms have also commented on YETI. Morgan Stanley lifted their price target on YETI from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Monday, October 27th. B. Riley reissued a “neutral” rating and set a $35.00 target price (up previously from $32.00) on shares of YETI in a research report on Monday, November 10th. UBS Group increased their price target on YETI from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of YETI in a research note on Wednesday, October 8th. Finally, William Blair reiterated an “outperform” rating on shares of YETI in a research report on Tuesday, November 11th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $39.82.

YETI Price Performance

Shares of NYSE YETI traded up $2.05 during midday trading on Thursday, reaching $49.52. 1,295,557 shares of the stock traded hands, compared to its average volume of 1,798,269. The company’s 50 day moving average is $41.18 and its 200 day moving average is $36.84. YETI has a one year low of $26.61 and a one year high of $50.34. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.16 and a quick ratio of 1.16. The stock has a market capitalization of $3.85 billion, a PE ratio of 25.79, a P/E/G ratio of 2.65 and a beta of 1.77.

YETI (NYSE:YETI) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. YETI had a net margin of 8.75% and a return on equity of 23.62%. The company had revenue of $487.77 million for the quarter, compared to the consensus estimate of $480.08 million. During the same quarter in the prior year, the firm earned $0.71 earnings per share. YETI’s revenue was up 1.9% on a year-over-year basis. YETI has set its FY 2025 guidance at 2.380-2.490 EPS. On average, equities research analysts anticipate that YETI will post 2.57 earnings per share for the current year.

Insider Buying and Selling at YETI

In other news, SVP Bryan C. Barksdale sold 9,756 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $45.32, for a total transaction of $442,141.92. Following the completion of the sale, the senior vice president directly owned 56,397 shares of the company’s stock, valued at approximately $2,555,912.04. The trade was a 14.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.94% of the company’s stock.

Hedge Funds Weigh In On YETI

Institutional investors have recently made changes to their positions in the company. Westwood Holdings Group Inc. grew its holdings in YETI by 110.2% during the 2nd quarter. Westwood Holdings Group Inc. now owns 2,507,921 shares of the company’s stock worth $79,050,000 after acquiring an additional 1,314,878 shares in the last quarter. Cooper Creek Partners Management LLC bought a new position in shares of YETI during the third quarter valued at approximately $36,150,000. Reinhart Partners LLC. increased its holdings in YETI by 101.6% during the second quarter. Reinhart Partners LLC. now owns 2,142,818 shares of the company’s stock valued at $67,542,000 after buying an additional 1,080,072 shares during the period. Norges Bank bought a new position in YETI in the second quarter worth approximately $32,995,000. Finally, Disciplined Growth Investors Inc. MN purchased a new stake in YETI during the third quarter worth $25,640,000.

About YETI

YETI Holdings, Inc is an American outdoor and lifestyle products company known for its premium, performance-driven coolers, drinkware and accessories. The company’s portfolio includes hard coolers under its flagship Tundra series, soft coolers in the Hopper line, and vacuum-insulated drinkware sold under the Rambler brand. YETI’s products are engineered for durability, temperature retention and rugged outdoor use, targeting consumers ranging from avid anglers and hunters to outdoor enthusiasts and everyday users seeking high-quality insulated containers.

Founded in 2006 by brothers Roy and Ryan Seiders in Austin, Texas, YETI began with a focus on building a better cooler that could withstand extreme conditions and maintain ice retention longer than traditional alternatives.