Piper Sandler Reaffirms Overweight Rating for YETI (NYSE:YETI)

YETI (NYSE:YETI)‘s stock had its “overweight” rating reissued by analysts at Piper Sandler in a research note issued on Friday,Benzinga reports. They presently have a $54.00 target price on the stock, down from their previous target price of $55.00. Piper Sandler’s price target points to a potential upside of 38.92% from the company’s current price.

YETI has been the topic of a number of other reports. Citigroup reduced their price objective on shares of YETI from $49.00 to $47.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. KeyCorp upped their target price on shares of YETI from $36.00 to $38.00 and gave the stock an “underweight” rating in a research note on Friday, August 9th. B. Riley upped their target price on shares of YETI from $38.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Jefferies Financial Group upped their target price on shares of YETI from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, TD Cowen upped their target price on shares of YETI from $43.00 to $46.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, YETI presently has an average rating of “Hold” and a consensus price target of $45.62.

YETI Stock Performance

YETI stock opened at $38.87 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.29 and a quick ratio of 1.22. YETI has a 1-year low of $33.41 and a 1-year high of $54.15. The firm has a market capitalization of $3.29 billion, a P/E ratio of 18.00, a price-to-earnings-growth ratio of 1.05 and a beta of 2.12. The company’s 50-day moving average is $38.77 and its 200 day moving average is $39.10.

YETI (NYSE:YETI) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. YETI had a net margin of 10.66% and a return on equity of 28.83%. The company had revenue of $463.50 million for the quarter, compared to analyst estimates of $452.42 million. During the same period in the prior year, the company posted $0.51 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. Research analysts forecast that YETI will post 2.35 EPS for the current year.

Hedge Funds Weigh In On YETI

A number of hedge funds and other institutional investors have recently modified their holdings of the business. American Century Companies Inc. boosted its stake in YETI by 311.4% in the second quarter. American Century Companies Inc. now owns 1,967,215 shares of the company’s stock valued at $75,049,000 after acquiring an additional 1,488,994 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in YETI in the second quarter valued at approximately $23,166,000. WCM Investment Management LLC boosted its stake in YETI by 655.4% in the third quarter. WCM Investment Management LLC now owns 508,882 shares of the company’s stock valued at $20,701,000 after acquiring an additional 441,516 shares in the last quarter. Millennium Management LLC boosted its stake in YETI by 54.8% in the second quarter. Millennium Management LLC now owns 817,366 shares of the company’s stock valued at $31,183,000 after acquiring an additional 289,298 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in YETI by 76.2% in the second quarter. Marshall Wace LLP now owns 607,551 shares of the company’s stock valued at $23,178,000 after acquiring an additional 262,829 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.