YETI (NYSE:YETI) Shares Down 4.2% – What’s Next?

YETI Holdings, Inc. (NYSE:YETI) shares were down 4.2% during mid-day trading on Monday . The stock traded as low as $40.16 and last traded at $40.27. Approximately 178,062 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 1,573,308 shares. The stock had previously closed at $42.04.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on YETI shares. Citigroup reduced their price target 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. Roth Mkm boosted their price target on shares of YETI from $42.00 to $43.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Bank of America upgraded shares of YETI from a “neutral” rating to a “buy” rating and upped their price target for the company from $46.00 to $55.00 in a research report on Thursday, August 8th. B. Riley lifted their price objective on YETI from $38.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $54.00 price target on shares of YETI in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $46.77.

YETI Stock Down 2.0 %

The company’s fifty day simple moving average is $40.03 and its 200 day simple moving average is $39.25. The company has a current ratio of 2.29, a quick ratio of 1.22 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $3.43 billion, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 1.19 and a beta of 2.11.

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

Institutional Investors Weigh In On YETI

Several hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC grew its holdings in YETI by 259.4% in the first quarter. SG Americas Securities LLC now owns 21,170 shares of the company’s stock worth $816,000 after purchasing an additional 15,280 shares during the period. Congress Asset Management Co. MA increased its position in YETI by 7.7% during the 1st quarter. Congress Asset Management Co. MA now owns 790,900 shares of the company’s stock valued at $30,489,000 after buying an additional 56,881 shares in the last quarter. BOKF NA raised its stake in YETI by 12,075.3% during the first quarter. BOKF NA now owns 18,263 shares of the company’s stock valued at $701,000 after buying an additional 18,113 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in YETI by 97.8% in the first quarter. Azzad Asset Management Inc. ADV now owns 51,760 shares of the company’s stock worth $1,995,000 after acquiring an additional 25,592 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in YETI by 65.8% in the first quarter. Janus Henderson Group PLC now owns 68,237 shares of the company’s stock worth $2,630,000 after acquiring an additional 27,076 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.