Piper Sandler Reaffirms Overweight Rating for YETI (NYSE:YETI)

YETI (NYSE:YETI)‘s stock had its “overweight” rating reaffirmed by investment analysts at Piper Sandler in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $54.00 price objective on the stock, down from their previous price objective of $55.00. Piper Sandler’s price target suggests a potential upside of 38.92% from the company’s current price.

YETI has been the subject of several other reports. Bank of America lowered shares of YETI from a “buy” rating to a “neutral” rating and lowered their target price for the company from $55.00 to $40.00 in a report on Wednesday. TD Cowen lifted their target price on shares of YETI from $43.00 to $46.00 and gave the company a “hold” rating in a report on Friday, August 9th. Citigroup lowered their target price on shares of YETI from $49.00 to $47.00 and set a “buy” rating for the company in a report on Monday, August 5th. Canaccord Genuity Group reiterated a “hold” rating and set a $44.00 target price on shares of YETI in a report on Monday, September 30th. Finally, Jefferies Financial Group lifted their target price on shares of YETI from $54.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, YETI presently has an average rating of “Hold” and a consensus target price of $45.62.

YETI Stock Performance

YETI stock opened at $38.87 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.22 and a debt-to-equity ratio of 0.11. The firm has a market cap of $3.29 billion, a P/E ratio of 18.00, a P/E/G ratio of 1.05 and a beta of 2.12. YETI has a 1-year low of $33.41 and a 1-year high of $54.15. The firm has a 50-day moving average of $38.77 and a 200-day moving average of $39.10.

YETI (NYSE:YETI) last posted its earnings results on Thursday, August 8th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.06. The company had revenue of $463.50 million for the quarter, compared to analysts’ expectations of $452.42 million. YETI had a return on equity of 28.83% and a net margin of 10.66%. YETI’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $0.51 earnings per share. Sell-side analysts expect that YETI will post 2.35 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in YETI in the 3rd quarter worth $26,000. Crewe Advisors LLC purchased a new stake in YETI in the 1st quarter worth $27,000. Versant Capital Management Inc lifted its stake in YETI by 571.8% in the 2nd quarter. Versant Capital Management Inc now owns 833 shares of the company’s stock worth $32,000 after purchasing an additional 709 shares in the last quarter. Blue Trust Inc. lifted its stake in YETI by 265.8% in the 3rd quarter. Blue Trust Inc. now owns 867 shares of the company’s stock worth $33,000 after purchasing an additional 630 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of YETI during the 2nd quarter valued at about $42,000.

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.