Canaccord Genuity Group Issues Pessimistic Forecast for YETI (NYSE:YETI) Stock Price

YETI (NYSE:YETI) had its target price decreased by Canaccord Genuity Group from $44.00 to $42.00 in a research note released on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

Several other brokerages have also recently weighed in on YETI. TD Cowen lowered their price target 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. UBS Group decreased their target price on shares of YETI from $44.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. KeyCorp cut their price target 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 YETI from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $55.00 to $40.00 in a report on Wednesday, November 6th. Finally, Piper Sandler reissued an “overweight” rating and set a $54.00 target price (down previously from $55.00) on shares of YETI in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $44.77.

YETI Stock Up 1.2 %

Shares of NYSE YETI opened at $38.02 on Friday. The company has a current ratio of 2.58, a quick ratio of 1.45 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 $39.21. YETI has a 12-month low of $33.41 and a 12-month high of $45.25. The stock has a market cap of $3.22 billion, a PE ratio of 16.32, a P/E/G ratio of 1.06 and a beta of 2.13.

YETI (NYSE:YETI) last posted 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). YETI had a net margin of 11.15% and a return on equity of 28.31%. As a group, sell-side analysts predict that YETI will post 2.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp lifted its holdings in YETI by 22.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,526 shares of the company’s stock worth $59,000 after buying an additional 280 shares in the last quarter. Central Pacific Bank Trust Division raised its stake in shares of YETI by 6.7% in the fourth quarter. Central Pacific Bank Trust Division now owns 4,650 shares of the company’s stock valued at $179,000 after acquiring an additional 290 shares in the last quarter. Atria Investments Inc boosted its holdings in YETI by 4.2% in the fourth quarter. Atria Investments Inc now owns 8,110 shares of the company’s stock valued at $312,000 after purchasing an additional 328 shares during the period. Pacer Advisors Inc. increased its holdings in YETI by 2.7% during the 4th quarter. Pacer Advisors Inc. now owns 12,646 shares of the company’s stock worth $487,000 after purchasing an additional 332 shares during the period. Finally, Blue Trust Inc. raised its position in YETI by 38.4% in the 4th quarter. Blue Trust Inc. now owns 1,200 shares of the company’s stock valued at $49,000 after purchasing an additional 333 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.