YETI (NYSE:YETI) Stock Rating Lowered by Bank of America

YETI (NYSE:YETIGet Rating) was downgraded by equities researchers at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Thursday, Marketbeat.com reports. They currently have a $50.00 target price on the stock, down from their prior target price of $85.00. Bank of America‘s target price points to a potential upside of 11.26% from the stock’s previous close.

Several other equities analysts also recently commented on the company. Cowen cut their price objective on YETI from $89.00 to $71.00 in a research report on Thursday, May 12th. Cowen cut their price objective on YETI to $59.00 in a research report on Monday, July 25th. Berenberg Bank raised YETI from a “hold” rating to a “buy” rating and cut their price objective for the company from $103.00 to $92.00 in a research report on Thursday, April 7th. Robert W. Baird cut their price objective on YETI from $90.00 to $70.00 in a research report on Thursday, May 12th. Finally, Jefferies Financial Group cut their price objective on YETI from $121.00 to $90.00 in a research report on Monday, July 18th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.76.

YETI Stock Performance

NYSE YETI opened at $44.94 on Thursday. The company has a market cap of $3.87 billion, a P/E ratio of 19.21, a P/E/G ratio of 1.23 and a beta of 2.42. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.64 and a current ratio of 1.82. The business’s 50 day moving average price is $46.24 and its 200-day moving average price is $53.42. YETI has a fifty-two week low of $38.77 and a fifty-two week high of $108.82.

YETI (NYSE:YETIGet Rating) last released its earnings results on Thursday, August 4th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). The company had revenue of $420.04 million for the quarter, compared to the consensus estimate of $422.92 million. YETI had a net margin of 14.26% and a return on equity of 47.22%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. Sell-side analysts predict that YETI will post 2.71 earnings per share for the current year.

Institutional Trading of YETI

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in YETI by 1.2% during the first quarter. BlackRock Inc. now owns 7,372,620 shares of the company’s stock worth $442,208,000 after acquiring an additional 90,088 shares during the period. Capital World Investors boosted its position in YETI by 23.4% during the first quarter. Capital World Investors now owns 7,266,836 shares of the company’s stock worth $435,865,000 after purchasing an additional 1,376,536 shares in the last quarter. Wellington Management Group LLP boosted its position in YETI by 6.7% during the first quarter. Wellington Management Group LLP now owns 4,613,072 shares of the company’s stock worth $276,692,000 after purchasing an additional 289,335 shares in the last quarter. Wasatch Advisors Inc. boosted its position in YETI by 12.5% during the first quarter. Wasatch Advisors Inc. now owns 3,908,872 shares of the company’s stock worth $234,454,000 after purchasing an additional 434,669 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in YETI by 5.0% during the first quarter. Capital Research Global Investors now owns 3,793,851 shares of the company’s stock worth $227,555,000 after purchasing an additional 181,063 shares in the last quarter. 96.33% of the stock is owned by institutional investors and hedge funds.

About YETI

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YETI Holdings, Inc designs, markets, retails, and distributes products for the outdoor and recreation market under the YETI brand. The company offers hard and soft coolers, as well as cargo, bags, outdoor living, and associated accessories. It also provides drinkware products, such as colsters, lowballs, wine tumblers, stackable pints, mugs, tumblers, bottles, and jugs, as well as accessories comprising bottle straw caps, tumbler handles, jug mounts, and bottle slings under the Rambler brand.

Further Reading

Analyst Recommendations for YETI (NYSE:YETI)

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