Canaccord Genuity Group Has Lowered Expectations for YETI (NYSE:YETI) Stock Price

YETI (NYSE:YETI - Free Report) had its target price trimmed by Canaccord Genuity Group from $44.00 to $42.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other analysts have also recently issued reports on YETI. UBS Group dropped their price objective on YETI from $44.00 to $43.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. KeyCorp lowered their price target on shares of YETI from $36.00 to $35.00 and set an "underweight" rating on the stock in a report on Wednesday, January 8th. Piper Sandler reaffirmed an "overweight" rating and set a $54.00 price objective (down previously from $55.00) on shares of YETI in a research note on Friday, November 8th. TD Cowen decreased their target price on shares of YETI from $46.00 to $44.00 and set a "hold" rating on the stock in a report on Monday, November 11th. Finally, Bank of America downgraded shares of YETI from a "buy" rating to a "neutral" rating and cut their price target for the company from $55.00 to $40.00 in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $44.77.

YETI Stock Performance

Shares of YETI traded up $0.39 during trading hours on Friday, hitting $38.41. The company's stock had a trading volume of 2,103,237 shares, compared to its average volume of 1,695,972. The business has a 50 day simple moving average of $38.56 and a two-hundred day simple moving average of $39.17. YETI has a 52-week low of $33.41 and a 52-week high of $45.25. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.58 and a quick ratio of 1.45. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 1.06 and a beta of 2.13.

YETI (NYSE:YETI - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.06). The business had revenue of $555.37 million during the quarter, compared to analysts' expectations of $554.08 million. YETI had a net margin of 11.15% and a return on equity of 28.31%. On average, equities analysts expect that YETI will post 2.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP boosted 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 acquiring an additional 467 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of YETI in the 3rd quarter worth about $26,000. Blue Trust Inc. lifted its position in YETI by 265.8% during the 3rd quarter. Blue Trust Inc. now owns 867 shares of the company's stock valued at $33,000 after acquiring an additional 630 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in YETI during the third quarter worth about $38,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of YETI during the fourth quarter valued at approximately $44,000.

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.