YETI (NYSE:YETI) Rating Reiterated by Canaccord Genuity Group

YETI (NYSE:YETI)‘s stock had its “hold” rating reaffirmed by equities researchers at Canaccord Genuity Group in a research note issued to investors on Monday, Benzinga reports. They currently have a $44.00 price objective on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 7.90% from the company’s previous close.

Several other analysts have also weighed in on the stock. KeyCorp lifted their price objective on shares of YETI from $36.00 to $38.00 and gave the company an “underweight” rating in a research note on Friday, August 9th. Roth Mkm lifted their price objective on shares of YETI from $42.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. B. Riley lifted their price target on shares of YETI from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Piper Sandler reissued an “overweight” rating and issued a $54.00 price target on shares of YETI in a research report on Tuesday, July 30th. Finally, TD Cowen lifted their price target on shares of YETI from $43.00 to $46.00 and gave the company a “hold” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, YETI currently has an average rating of “Hold” and a consensus target price of $46.43.

YETI Trading Down 0.6 %

YETI opened at $40.78 on Monday. The company’s 50 day moving average is $39.58 and its 200-day moving average is $38.98. YETI has a 1-year low of $33.88 and a 1-year high of $54.15. The company has a current ratio of 2.29, a quick ratio of 1.22 and a debt-to-equity ratio of 0.11. The company has a market cap of $3.45 billion, a P/E ratio of 20.29, a PEG ratio of 1.18 and a beta of 2.11.

YETI (NYSE:YETI) last posted its earnings results on Thursday, August 8th. The company reported $0.70 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 business had revenue of $463.50 million for the quarter, compared to the consensus estimate of $452.42 million. During the same period last year, the company earned $0.51 EPS. The firm’s revenue was up 15.1% compared to the same quarter last year. Equities research analysts predict that YETI will post 2.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On YETI

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Crewe Advisors LLC bought a new position in YETI during the first quarter worth about $27,000. Versant Capital Management Inc lifted its stake in shares of YETI by 571.8% during the 2nd quarter. Versant Capital Management Inc now owns 833 shares of the company’s stock valued at $32,000 after buying an additional 709 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of YETI during the 1st quarter valued at approximately $35,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of YETI during the 2nd quarter valued at approximately $42,000. Finally, Headlands Technologies LLC purchased a new stake in shares of YETI during the 1st quarter valued at approximately $76,000.

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.