Stifel Nicolaus Cuts YETI (NYSE:YETI) Price Target to $40.00

YETI (NYSE:YETI) had its price target decreased by Stifel Nicolaus from $45.00 to $40.00 in a report published on Friday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other research firms have also recently issued reports on YETI. Morgan Stanley decreased their price objective on shares of YETI from $48.00 to $45.00 and set an “equal weight” rating for the company in a report on Friday. UBS Group decreased their price objective on shares of YETI from $44.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. KeyCorp decreased their price objective on shares of YETI from $36.00 to $35.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. Bank of America cut shares of YETI from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $55.00 to $40.00 in a report on Wednesday, November 6th. Finally, Canaccord Genuity Group reduced their target price on shares of YETI from $44.00 to $42.00 and set a “hold” rating for the company in a report on Friday. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $44.77.

YETI Price Performance

Shares of NYSE:YETI opened at $38.02 on Friday. The firm’s 50 day moving average is $38.78 and its two-hundred day moving average is $39.19. YETI has a 52 week low of $33.41 and a 52 week high of $45.25. The firm has a market capitalization of $3.22 billion, a P/E ratio of 16.32, a PEG ratio of 1.06 and a beta of 2.13. The company has a current ratio of 2.58, a quick ratio of 1.45 and a debt-to-equity ratio of 0.10.

YETI (NYSE:YETI) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.06). The firm 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%. Analysts anticipate that YETI will post 2.37 earnings per share for the current year.

Hedge Funds Weigh In On YETI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in YETI. GAMMA Investing LLC boosted its stake in YETI by 52.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,223 shares of the company’s stock worth $50,000 after purchasing an additional 423 shares during the period. CWM LLC lifted its position in YETI by 135.0% in the 3rd quarter. CWM LLC now owns 5,125 shares of the company’s stock worth $210,000 after buying an additional 2,944 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in YETI by 48.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,536 shares of the company’s stock worth $63,000 after buying an additional 500 shares in the last quarter. nVerses Capital LLC lifted its position in YETI by 61.8% in the 3rd quarter. nVerses Capital LLC now owns 5,500 shares of the company’s stock worth $226,000 after buying an additional 2,100 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in YETI by 3.8% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 96,178 shares of the company’s stock worth $3,946,000 after buying an additional 3,559 shares in the last quarter.

About YETI

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.