KeyCorp Cuts YETI (NYSE:YETI) Price Target to $35.00

YETI (NYSE:YETI) had its price target reduced by KeyCorp from $36.00 to $35.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. KeyCorp’s price target suggests a potential downside of 6.74% from the stock’s previous close.

Several other brokerages also recently commented on YETI. Canaccord Genuity Group restated a “hold” rating and issued a $44.00 price objective on shares of YETI in a research report on Thursday, November 14th. TD Cowen dropped their price target on 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 reiterated an “overweight” rating and set a $54.00 price objective (down previously from $55.00) on shares of YETI in a research report on Friday, November 8th. Finally, Bank of America lowered shares of YETI from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $55.00 to $40.00 in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $44.83.

YETI Stock Performance

Shares of NYSE YETI opened at $37.53 on Wednesday. The stock has a market cap of $3.18 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 1.37 and a beta of 2.14. YETI has a 1 year low of $33.41 and a 1 year high of $49.01. The firm has a fifty day moving average price of $39.81 and a 200-day moving average price of $39.39. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.58 and a quick ratio of 1.45.

Institutional Investors Weigh In On YETI

Several institutional investors have recently made changes to their positions in the company. Central Pacific Bank Trust Division grew its stake in shares of YETI by 6.7% during the fourth quarter. Central Pacific Bank Trust Division now owns 4,650 shares of the company’s stock valued at $179,000 after buying an additional 290 shares during the last quarter. Covestor Ltd increased its stake in YETI by 13.5% in the 3rd quarter. Covestor Ltd now owns 2,880 shares of the company’s stock worth $118,000 after buying an additional 343 shares during the period. Peloton Wealth Strategists lifted its holdings in YETI by 0.4% during the 3rd quarter. Peloton Wealth Strategists now owns 86,275 shares of the company’s stock valued at $3,540,000 after buying an additional 350 shares in the last quarter. GAMMA Investing LLC boosted its position in YETI by 52.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,223 shares of the company’s stock valued at $50,000 after buying an additional 423 shares during the period. Finally, DORCHESTER WEALTH MANAGEMENT Co grew its stake in YETI by 1.6% in the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 29,965 shares of the company’s stock worth $1,229,000 after acquiring an additional 465 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.