The Goldman Sachs Group Has Lowered Expectations for YETI (NYSE:YETI) Stock Price

YETI (NYSE:YETI - Get Free Report) had its price target lowered by investment analysts at The Goldman Sachs Group from $41.00 to $29.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. The Goldman Sachs Group's price target would indicate a potential upside of 3.79% from the stock's previous close.

A number of other analysts have also commented on YETI. UBS Group decreased their price objective on YETI from $43.00 to $31.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. KeyCorp raised shares of YETI from an "underweight" rating to a "sector weight" rating in a research note on Thursday, April 17th. Canaccord Genuity Group reduced their price target on YETI from $44.00 to $42.00 and set a "hold" rating on the stock in a research note on Friday, February 14th. Morgan Stanley lowered their price objective on YETI from $48.00 to $45.00 and set an "equal weight" rating for the company in a research report on Friday, February 14th. Finally, Stifel Nicolaus dropped their price objective on YETI from $40.00 to $34.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, YETI presently has an average rating of "Hold" and an average price target of $42.20.

YETI Stock Performance

Shares of YETI stock traded up $0.45 during mid-day trading on Tuesday, hitting $27.94. 221,662 shares of the stock were exchanged, compared to its average volume of 1,678,694. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 13.51, a P/E/G ratio of 1.05 and a beta of 2.04. YETI has a 12-month low of $26.61 and a 12-month high of $45.25. The stock's fifty day simple moving average is $33.19 and its two-hundred day simple moving average is $36.94. 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 - Get Free Report) 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). The business had revenue of $555.37 million for the quarter, compared to analysts' expectations of $554.08 million. YETI had a return on equity of 28.23% and a net margin of 9.60%. On average, analysts forecast that YETI will post 2.57 EPS for the current year.

Hedge Funds Weigh In On YETI

Hedge funds have recently modified their holdings of the stock. Chicago Capital LLC lifted its holdings in shares of YETI by 30.0% during the 1st quarter. Chicago Capital LLC now owns 13,925 shares of the company's stock valued at $461,000 after buying an additional 3,217 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in YETI by 95.5% in the first quarter. Janney Montgomery Scott LLC now owns 23,759 shares of the company's stock valued at $786,000 after acquiring an additional 11,604 shares during the last quarter. Mission Wealth Management LP grew its position in YETI by 44.4% in the first quarter. Mission Wealth Management LP now owns 13,565 shares of the company's stock worth $449,000 after acquiring an additional 4,170 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of YETI by 1,239.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 75,436 shares of the company's stock valued at $2,497,000 after purchasing an additional 69,806 shares in the last quarter. Finally, Simon Quick Advisors LLC acquired a new stake in shares of YETI in the 1st quarter valued at $359,000.

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.

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