YETI (NYSE:YETI) Trading 4.5% Higher – Here’s Why

YETI Holdings, Inc. (NYSE:YETI)’s stock price shot up 4.5% during mid-day trading on Tuesday . The company traded as high as $37.33 and last traded at $37.78. 133,512 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 1,348,531 shares. The stock had previously closed at $36.14.

Analysts Set New Price Targets

YETI has been the subject of several recent analyst reports. TD Cowen reduced their price objective on shares of YETI from $46.00 to $44.00 and set a “hold” rating for the company in a research note on Monday, November 11th. Piper Sandler reissued an “overweight” rating and issued a $54.00 price objective (down previously from $55.00) on shares of YETI in a research report on Friday, November 8th. UBS Group lowered their price objective on YETI from $44.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Canaccord Genuity Group restated a “hold” rating and set a $44.00 price objective on shares of YETI in a report on Thursday, November 14th. Finally, Bank of America downgraded shares of YETI from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $55.00 to $40.00 in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.69.

YETI Stock Up 4.1 %

The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 16.15, a P/E/G ratio of 1.06 and a beta of 2.14. The business has a 50 day simple moving average of $39.12 and a 200-day simple moving average of $39.26. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.45 and a current ratio of 2.58.

Hedge Funds Weigh In On YETI

Large investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC acquired a new stake in YETI in the 3rd quarter valued at about $26,000. Allworth Financial LP boosted its position in shares of YETI by 237.1% in the 4th quarter. Allworth Financial LP now owns 664 shares of the company’s stock valued at $25,000 after purchasing an additional 467 shares during the period. Blue Trust Inc. boosted its position in shares of YETI by 265.8% in the 3rd quarter. Blue Trust Inc. now owns 867 shares of the company’s stock valued at $33,000 after purchasing an additional 630 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of YETI in the 3rd quarter valued at $38,000. Finally, GAMMA Investing LLC raised its stake in YETI by 52.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,223 shares of the company’s stock valued at $50,000 after acquiring an additional 423 shares during the last quarter.

YETI Company Profile

YETI Holdings, Inc designs, retails, and distributes products for the outdoor and recreation market under the YETI brand. It offers coolers and equipment, including hard and soft coolers, cargo, bags, outdoor living, and associated accessories, as well as backpacks, duffel bags, luggage, packing cubes, carryalls, camp chairs, blankets, dog beds, dog bowls, and gear cases under the LoadOut, Panga, Crossroads, Camino, Hondo Base, Trailhead, Lowlands, Boomer, and SideKick Dry brands.