YETI (NYSE:YETI) Reaches New 52-Week Low – Here’s What Happened

YETI Holdings, Inc. (NYSE:YETI)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $33.36 and last traded at $33.53, with a volume of 542109 shares changing hands. The stock had previously closed at $34.29.

Analyst Ratings Changes

A number of brokerages recently weighed in on YETI. Piper Sandler restated an “overweight” rating and set a $54.00 target price (down previously from $55.00) on shares of YETI in a research report on Friday, November 8th. KeyCorp cut their price objective on YETI from $36.00 to $35.00 and set an “underweight” rating for the company in a research report on Wednesday, January 8th. Canaccord Genuity Group decreased their target price on YETI from $44.00 to $42.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Morgan Stanley dropped their price target on YETI from $48.00 to $45.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Finally, UBS Group reduced their price objective on YETI from $44.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $44.77.

YETI Trading Up 2.0 %

The stock has a fifty day moving average of $37.30 and a 200-day moving average of $38.83. The company has a market cap of $2.94 billion, a PE ratio of 17.31, a PEG ratio of 1.05 and a beta of 2.15. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.36 and a current ratio of 2.18.

YETI (NYSE:YETI) last issued its earnings results on Thursday, February 13th. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.06). YETI had a net margin of 9.60% and a return on equity of 28.23%. The company had revenue of $555.37 million for the quarter, compared to analysts’ expectations of $554.08 million. Sell-side analysts anticipate that YETI Holdings, Inc. will post 2.57 EPS for the current fiscal year.

Institutional Trading of YETI

A number of large investors have recently modified their holdings of YETI. Allworth Financial LP raised its position in YETI by 237.1% during the 4th quarter. Allworth Financial LP now owns 664 shares of the company’s stock valued at $25,000 after purchasing an additional 467 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of YETI during the third quarter valued at $38,000. Aster Capital Management DIFC Ltd bought a new stake in shares of YETI in the fourth quarter valued at about $44,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in YETI in the fourth quarter worth about $45,000. Finally, Blue Trust Inc. grew its holdings in YETI by 38.4% during the 4th quarter. Blue Trust Inc. now owns 1,200 shares of the company’s stock worth $49,000 after acquiring 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.