YETI (NYSE:YETI) Stock Rating Reaffirmed as “Buy” by Roth Capital

YETI (NYSE:YETI)‘s stock had its “buy” rating reaffirmed by research analysts at Roth Capital in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $52.00 target price on the stock, down from their previous target price of $62.00. Roth Capital‘s price objective would indicate a potential upside of 35.62% from the stock’s current price.

Several other research firms also recently weighed in on YETI. Jefferies Financial Group reiterated a “buy” rating and set a $80.00 price target on shares of YETI in a research note on Thursday, August 13th. Canaccord Genuity Group lowered their price objective on YETI from $46.00 to $42.00 and set a “hold” rating on the stock in a research note on Friday. Robert W. Baird dropped their price objective on shares of YETI from $57.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday. Ladenburg Thalmann & Co. Inc. started coverage on shares of YETI in a research report on Tuesday, October 13th. They set a “buy” rating and a $52.00 target price for the company. Finally, Stifel Nicolaus reduced their target price on shares of YETI from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.87.

YETI Price Performance

YETI stock opened at $38.34 on Friday. YETI has a 12 month low of $34.90 and a 12 month high of $53.99. The company has a current ratio of 1.75, a quick ratio of 0.87 and a debt-to-equity ratio of 0.16. The business’s 50 day simple moving average is $42.13 and its 200 day simple moving average is $43.88. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 1.12 and a beta of 1.63.

YETI (NYSE:YETI) last announced its quarterly earnings data on Thursday, November 12th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.07. YETI had a return on equity of 23.79% and a net margin of 9.24%. The business had revenue of $517.93 million during the quarter, compared to analyst estimates of $523.07 million. During the same period in the prior year, the company earned $0.48 earnings per share. YETI’s revenue was up 4.4% compared to the same quarter last year. Sell-side analysts forecast that YETI will post 2.56 EPS for the current year.

Institutional Trading of YETI

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Reinhart Partners LLC. raised its holdings in shares of YETI by 5.1% during the 2nd quarter. Reinhart Partners LLC. now owns 3,277,296 shares of the company’s stock valued at $162,423,000 after buying an additional 158,957 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of YETI by 3.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,887,097 shares of the company’s stock worth $69,043,000 after purchasing an additional 70,273 shares during the period. Quantinno Capital Management LP lifted its holdings in YETI by 46.0% in the first quarter. Quantinno Capital Management LP now owns 1,871,188 shares of the company’s stock worth $68,467,000 after buying an additional 589,205 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of YETI in the 2nd quarter valued at approximately $57,971,000. Finally, Fort Washington Investment Advisors Inc. OH lifted its position in YETI by 38.5% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 847,874 shares of the company’s stock valued at $34,780,000 after buying an additional 235,490 shares during the period.

Latest YETI News

Investors following YETI have been watching these news items:

• Positive Sentiment: Third-quarter adjusted EPS rose 49% year over year to $0.91, above the roughly $0.84 analyst consensus. Adjusted sales increased 6% to about $518 million, with international sales up 19%. Read More.
• Positive Sentiment: KeyCorp, Stifel Nicolaus, and Robert W. Baird lowered their price targets but retained overweight, buy, and outperform ratings, respectively. Their revised targets of $48–$50 remain above the cited share price. Read More., Read More., and Read More.
• Negative Sentiment: Piper Sandler downgraded YETI from overweight to neutral and cut its price target from $58 to $39, signaling reduced confidence in the near-term outlook. Read More.

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.