Raymond James Lowers YETI (NYSE:YETI) Price Target to $34.00

YETI (NYSE:YETI) had its target price lowered by Raymond James from $50.00 to $34.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other research analysts also recently issued reports about the company. The Goldman Sachs Group decreased their price target on YETI from $41.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. UBS Group reduced their price target on YETI from $43.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Piper Sandler cut their target price on YETI from $52.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Morgan Stanley upped their target price on YETI from $33.00 to $34.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, KeyCorp raised YETI from an “underweight” rating to a “sector weight” rating in a report on Thursday, April 17th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, YETI presently has a consensus rating of “Hold” and a consensus target price of $39.40.

YETI Trading Down 5.0%

NYSE:YETI opened at $28.14 on Friday. YETI has a fifty-two week low of $26.61 and a fifty-two week high of $45.25. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.18 and a quick ratio of 1.36. The stock has a market capitalization of $2.33 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 1.05 and a beta of 1.91. The business’s 50-day simple moving average is $30.85 and its 200-day simple moving average is $35.84.

YETI (NYSE:YETI) last announced its earnings results on Thursday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. YETI had a return on equity of 28.23% and a net margin of 9.60%. The business had revenue of $351.13 million for the quarter, compared to analyst estimates of $347.72 million. During the same quarter last year, the firm earned $0.34 EPS. YETI’s revenue for the quarter was up 2.8% compared to the same quarter last year. Sell-side analysts expect that YETI will post 2.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On YETI

Several large investors have recently added to or reduced their stakes in the business. Ontario Teachers Pension Plan Board bought a new position in shares of YETI in the first quarter valued at approximately $2,735,000. Charles Schwab Investment Management Inc. boosted its stake in YETI by 2.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 790,538 shares of the company’s stock valued at $26,167,000 after buying an additional 16,985 shares during the period. Westwood Holdings Group Inc. boosted its stake in YETI by 23.8% during the first quarter. Westwood Holdings Group Inc. now owns 1,193,043 shares of the company’s stock valued at $39,490,000 after buying an additional 229,709 shares during the period. Costello Asset Management INC purchased a new position in shares of YETI in the 1st quarter worth about $25,000. Finally, Baker Avenue Asset Management LP bought a new stake in shares of YETI in the 1st quarter valued at about $209,000.

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.