B. Riley Trims YETI (NYSE:YETI) Target Price to $38.00

YETI (NYSE:YETI) had its price target dropped by stock analysts at B. Riley from $42.00 to $38.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. B. Riley’s target price points to a potential upside of 5.09% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus reduced their target price on shares of YETI from $43.00 to $41.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Canaccord Genuity Group lowered shares of YETI from a “buy” rating to a “hold” rating and boosted their target price for the stock from $49.00 to $50.00 in a report on Thursday, January 4th. KeyCorp boosted their target price on shares of YETI from $33.00 to $36.00 and gave the stock an “underweight” rating in a report on Friday, January 12th. Raymond James dropped their price target on shares of YETI from $55.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. Finally, Canaccord Genuity Group dropped their price target on shares of YETI from $41.00 to $40.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $48.00.

YETI Price Performance

YETI stock traded up $0.49 during mid-day trading on Thursday, hitting $36.16. The stock had a trading volume of 1,448,816 shares, compared to its average volume of 1,591,657. The company has a current ratio of 2.30, a quick ratio of 1.45 and a debt-to-equity ratio of 0.11. YETI has a 52 week low of $34.70 and a 52 week high of $54.15. The firm has a market capitalization of $3.08 billion, a P/E ratio of 18.54, a P/E/G ratio of 1.42 and a beta of 2.29. The firm has a fifty day simple moving average of $38.56 and a 200 day simple moving average of $42.74.

YETI (NYSE:YETI) last announced its quarterly earnings results on Thursday, February 15th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.06). YETI had a net margin of 10.24% and a return on equity of 27.99%. The company had revenue of $519.79 million for the quarter, compared to the consensus estimate of $535.99 million. During the same period last year, the firm posted $0.75 earnings per share. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, research analysts forecast that YETI will post 2.27 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. lifted its position in shares of YETI by 53.0% during the 4th quarter. Baillie Gifford & Co. now owns 9,416,441 shares of the company’s stock valued at $487,583,000 after acquiring an additional 3,260,704 shares during the period. Vanguard Group Inc. raised its holdings in YETI by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 8,209,349 shares of the company’s stock worth $425,080,000 after buying an additional 126,154 shares during the last quarter. Franklin Resources Inc. raised its holdings in YETI by 18.7% during the fourth quarter. Franklin Resources Inc. now owns 3,999,412 shares of the company’s stock worth $207,090,000 after buying an additional 629,287 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in YETI by 144.0% during the third quarter. Bank of New York Mellon Corp now owns 1,863,611 shares of the company’s stock worth $89,863,000 after buying an additional 1,099,929 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in YETI by 97.3% during the third quarter. Lord Abbett & CO. LLC now owns 1,517,821 shares of the company’s stock worth $73,189,000 after buying an additional 748,671 shares during the last quarter.

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.