YETI (NYSE:YETI) Price Target Lowered to $38.00 at B. Riley

YETI (NYSE:YETI) had its price objective trimmed by B. Riley from $42.00 to $38.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other brokerages have also weighed in on YETI. Raymond James dropped their price objective on YETI from $55.00 to $48.00 and set an outperform rating on the stock in a report on Friday, February 16th. Canaccord Genuity Group lowered YETI from a buy rating to a hold rating and upped their price objective for the stock from $49.00 to $50.00 in a report on Thursday, January 4th. Stifel Nicolaus dropped their price objective on YETI from $43.00 to $41.00 and set a hold rating on the stock in a report on Friday, February 16th. KeyCorp upped their price objective on YETI from $33.00 to $36.00 and gave the stock an underweight rating in a report on Friday, January 12th. Finally, Canaccord Genuity Group dropped their price objective on YETI from $41.00 to $40.00 and set a hold rating on the stock in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $48.00.

YETI Price Performance

YETI stock opened at $36.15 on Thursday. YETI has a 12 month low of $34.70 and a 12 month high of $54.15. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.30 and a quick ratio of 1.45. The business has a 50 day simple moving average of $38.13 and a 200-day simple moving average of $42.62. The stock has a market capitalization of $3.08 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 1.39 and a beta of 2.29.

YETI (NYSE:YETI) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.06). YETI had a return on equity of 27.99% and a net margin of 10.24%. The company had revenue of $519.79 million for the quarter, compared to analysts’ expectations of $535.99 million. During the same quarter last year, the company earned $0.75 EPS. YETI’s revenue for the quarter was up 16.0% compared to the same quarter last year. Equities analysts predict that YETI will post 2.27 earnings per share for the current year.

Institutional Trading of YETI

Several large investors have recently bought and sold shares of the company. Baillie Gifford & Co. boosted its stake in shares of YETI by 53.0% during the fourth quarter. Baillie Gifford & Co. now owns 9,416,441 shares of the company’s stock valued at $487,583,000 after acquiring an additional 3,260,704 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of YETI by 144.0% during the third quarter. Bank of New York Mellon Corp now owns 1,863,611 shares of the company’s stock valued at $89,863,000 after acquiring an additional 1,099,929 shares during the last quarter. Norges Bank acquired a new stake in shares of YETI during the fourth quarter valued at $46,686,000. Lord Abbett & CO. LLC boosted its stake in shares of YETI by 97.3% during the third quarter. Lord Abbett & CO. LLC now owns 1,517,821 shares of the company’s stock valued at $73,189,000 after acquiring an additional 748,671 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of YETI by 18.7% during the fourth quarter. Franklin Resources Inc. now owns 3,999,412 shares of the company’s stock valued at $207,090,000 after acquiring an additional 629,287 shares during 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.