Piper Sandler Reiterates "Overweight" Rating for YETI (NYSE:YETI)

Piper Sandler reaffirmed their overweight rating on shares of YETI (NYSE:YETI - Free Report) in a research note issued to investors on Friday,Benzinga reports. They currently have a $54.00 price target on the stock, down from their prior price target of $55.00.

Several other equities analysts have also issued reports on YETI. Bank of America lowered YETI from a "buy" rating to a "neutral" rating and cut their target price for the company from $55.00 to $40.00 in a research note on Wednesday. B. Riley boosted their target price on shares of YETI from $38.00 to $45.00 and gave the stock a "neutral" rating in a research note on Friday, August 9th. TD Cowen increased their price objective on shares of YETI from $43.00 to $46.00 and gave the stock a "hold" rating in a research report on Friday, August 9th. KeyCorp raised their price target on shares of YETI from $36.00 to $38.00 and gave the company an "underweight" rating in a research report on Friday, August 9th. Finally, Citigroup cut their target price on YETI from $49.00 to $47.00 and set a "buy" rating on the stock in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, YETI presently has a consensus rating of "Hold" and an average price target of $45.62.

YETI Trading Down 0.7 %

YETI stock traded down $0.27 during trading hours on Friday, reaching $38.60. The company had a trading volume of 2,621,663 shares, compared to its average volume of 1,615,282. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.29 and a quick ratio of 1.22. YETI has a 12-month low of $33.41 and a 12-month high of $54.15. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 18.00, a P/E/G ratio of 1.05 and a beta of 2.12. The company has a 50-day moving average price of $38.77 and a 200 day moving average price of $39.10.

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

Institutional Investors Weigh In On YETI

A number of institutional investors have recently added to or reduced their stakes in YETI. V Square Quantitative Management LLC acquired a new stake in shares of YETI in the third quarter worth $26,000. Crewe Advisors LLC bought a new position in YETI in the first quarter worth $27,000. Versant Capital Management Inc increased its stake in YETI by 571.8% in the second quarter. Versant Capital Management Inc now owns 833 shares of the company's stock valued at $32,000 after acquiring an additional 709 shares during the period. Blue Trust Inc. raised its holdings in shares of YETI by 265.8% in the 3rd quarter. Blue Trust Inc. now owns 867 shares of the company's stock worth $33,000 after buying an additional 630 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in YETI during the 2nd quarter valued at about $42,000.

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.