YETI’s (YETI) “Overweight” Rating Reiterated at Piper Sandler

YETI (NYSE:YETI)‘s stock had its “overweight” rating reiterated by investment analysts at Piper Sandler in a report issued on Friday, Benzinga reports. They currently have a $54.00 target price on the stock, up from their previous target price of $52.00. Piper Sandler’s target price indicates a potential upside of 35.47% from the company’s previous close.

A number of other equities research analysts also recently issued reports on YETI. Stifel Nicolaus cut their price objective on shares of YETI from $43.00 to $41.00 and set a “hold” rating for the company in a research report on Friday, February 16th. William Blair reissued an “outperform” rating on shares of YETI in a research report on Wednesday, May 1st. Roth Mkm cut their price objective on shares of YETI from $43.00 to $42.00 and set a “neutral” rating for the company in a research report on Friday. B. Riley dropped their target price on shares of YETI from $42.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Finally, Canaccord Genuity Group dropped their target price on shares of YETI from $41.00 to $40.00 and set a “hold” rating for the company in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $47.50.

YETI Stock Performance

YETI traded up $0.60 during mid-day trading on Friday, reaching $39.86. 640,001 shares of the company traded hands, compared to its average volume of 1,716,693. The stock has a market capitalization of $3.40 billion, a P/E ratio of 20.44, a P/E/G ratio of 1.37 and a beta of 2.26. The company has a quick ratio of 1.45, a current ratio of 2.30 and a debt-to-equity ratio of 0.11. The company’s fifty day moving average price is $37.49 and its 200-day moving average price is $42.27. YETI has a 52-week low of $33.88 and a 52-week high of $54.15.

YETI (NYSE:YETI) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.06). YETI had a net margin of 10.24% and a return on equity of 27.99%. The business had revenue of $519.79 million for the quarter, compared to the consensus estimate of $535.99 million. During the same period in the previous year, the firm earned $0.75 EPS. The company’s revenue was up 16.0% on a year-over-year basis. On average, sell-side analysts expect that YETI will post 2.27 EPS for the current year.

Hedge Funds Weigh In On YETI

Institutional investors have recently modified their holdings of the stock. Fidelis Capital Partners LLC purchased a new position in shares of YETI during the first quarter worth approximately $35,000. Sachetta LLC purchased a new position in shares of YETI during the fourth quarter worth approximately $53,000. Principal Securities Inc. purchased a new position in shares of YETI during the fourth quarter worth approximately $74,000. Signaturefd LLC increased its position in shares of YETI by 27.0% during the fourth quarter. Signaturefd LLC now owns 1,732 shares of the company’s stock worth $90,000 after acquiring an additional 368 shares during the period. Finally, Scarborough Advisors LLC purchased a new position in shares of YETI during the fourth quarter worth approximately $100,000.

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.