YETI (NYSE:YETI) Stock Crosses Below 200-Day Moving Average – Here’s Why

YETI Holdings, Inc. (NYSE:YETI)’s share price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $43.93 and traded as low as $42.13. YETI shares last traded at $42.81, with a volume of 4,827,593 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on YETI. Raymond James Financial increased their target price on shares of YETI from $55.00 to $56.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Canaccord Genuity Group lifted their price target on shares of YETI from $45.00 to $46.00 and gave the company a “hold” rating in a research report on Monday, September 28th. Bank of America increased their price target on YETI from $44.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, August 14th. Wall Street Zen lowered YETI from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Finally, Ladenburg Thalmann & Co. Inc. initiated coverage on YETI in a research note on Tuesday, October 13th. They set a “buy” rating and a $52.00 price objective on the stock. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.20.

YETI Price Performance

The firm has a market capitalization of $3.12 billion, a P/E ratio of 18.69, a PEG ratio of 1.18 and a beta of 1.63. The company has a quick ratio of 0.87, a current ratio of 1.75 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $42.19 and its 200-day moving average is $43.93.

YETI (NYSE:YETI) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.13. The company had revenue of $483.87 million for the quarter, compared to analyst estimates of $483.80 million. YETI had a net margin of 9.24% and a return on equity of 23.79%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 EPS. As a group, sell-side analysts predict that YETI Holdings, Inc. will post 2.56 EPS for the current fiscal year.

Institutional Trading of YETI

A number of hedge funds have recently added to or reduced their stakes in the stock. Reinhart Partners LLC. grew its stake in shares of YETI by 5.1% during the second quarter. Reinhart Partners LLC. now owns 3,277,296 shares of the company’s stock worth $162,423,000 after buying an additional 158,957 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of YETI by 3.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,887,097 shares of the company’s stock valued at $69,043,000 after acquiring an additional 70,273 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in shares of YETI by 46.0% during the 1st quarter. Quantinno Capital Management LP now owns 1,871,188 shares of the company’s stock valued at $68,467,000 after acquiring an additional 589,205 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of YETI during the 2nd quarter valued at $57,971,000. Finally, Fort Washington Investment Advisors Inc. OH grew its position in YETI by 38.5% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 847,874 shares of the company’s stock worth $34,780,000 after acquiring an additional 235,490 shares during the last quarter.

YETI Company Profile

YETI Holdings, Inc. designs, markets and distributes premium outdoor products. Founded in 2006 by brothers Roy and Ryan Seiders, the company is headquartered in Austin, Texas. Its product lineup includes hard and soft coolers, insulated drinkware, bags, outdoor and camping equipment, and related accessories. YETI sells through its website, company-operated stores and a network of retail partners. The company serves customers in the United States and international markets, including Canada, Europe, Australia and parts of Asia.