Canaccord Genuity Group Cuts YETI (NYSE:YETI) Price Target to $42.00

YETI (NYSE:YETI) had its price target trimmed by Canaccord Genuity Group from $44.00 to $42.00 in a report published on Friday morning,Benzinga reports. The firm currently has a hold rating on the stock.

A number of other brokerages have also commented on YETI. 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. KeyCorp cut their price objective on shares of YETI from $36.00 to $35.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. TD Cowen cut their price objective on shares of YETI from $46.00 to $44.00 and set a “hold” rating on the stock in a research report on Monday, November 11th. Bank of America lowered shares of YETI from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $55.00 to $40.00 in a research report on Wednesday, November 6th. Finally, UBS Group dropped their price target on shares of YETI from $44.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, YETI has an average rating of “Hold” and a consensus price target of $44.77.

YETI Stock Up 1.2 %

YETI stock opened at $38.02 on Friday. The stock has a market capitalization of $3.22 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 1.06 and a beta of 2.13. YETI has a twelve month low of $33.41 and a twelve month high of $45.25. The company has a quick ratio of 1.45, a current ratio of 2.58 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average of $38.78 and a 200-day moving average of $39.19.

YETI (NYSE:YETI) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.06). The company had revenue of $555.37 million during the quarter, compared to analyst estimates of $554.08 million. YETI had a net margin of 11.15% and a return on equity of 28.31%. On average, equities research analysts anticipate that YETI will post 2.37 EPS for the current fiscal year.

Hedge Funds Weigh In On YETI

Several large investors have recently modified their holdings of the stock. Wasatch Advisors LP raised its position in shares of YETI by 0.9% in the fourth quarter. Wasatch Advisors LP now owns 5,529,046 shares of the company’s stock valued at $212,924,000 after purchasing an additional 51,443 shares during the period. Wellington Management Group LLP raised its position in shares of YETI by 15.9% in the fourth quarter. Wellington Management Group LLP now owns 3,560,485 shares of the company’s stock valued at $137,114,000 after purchasing an additional 489,063 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of YETI by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,501,170 shares of the company’s stock valued at $57,812,000 after acquiring an additional 22,123 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of YETI by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,427,191 shares of the company’s stock valued at $58,573,000 after acquiring an additional 7,382 shares in the last quarter. Finally, Congress Asset Management Co. grew its stake in shares of YETI by 5.6% in the fourth quarter. Congress Asset Management Co. now owns 1,131,060 shares of the company’s stock valued at $43,557,000 after acquiring an additional 60,407 shares in 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.