Canaccord Genuity Group Reiterates Hold Rating for YETI (NYSE:YETI)

YETI (NYSE:YETI)‘s stock had its “hold” rating restated by stock analysts at Canaccord Genuity Group in a research note issued on Monday, Benzinga reports. They currently have a $44.00 target price on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 21.95% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Piper Sandler reiterated an “overweight” rating and set a $54.00 target price on shares of YETI in a report on Tuesday, July 30th. Roth Mkm lifted their target price on YETI from $42.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, August 9th. B. Riley upped their price target on YETI from $38.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Citigroup decreased their price objective on YETI from $49.00 to $47.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Finally, Bank of America raised YETI from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $46.00 to $55.00 in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, YETI currently has a consensus rating of “Hold” and an average price target of $46.43.

YETI Stock Performance

Shares of YETI stock opened at $36.08 on Monday. The firm has a market cap of $3.05 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 1.13 and a beta of 2.11. The company has a quick ratio of 1.22, a current ratio of 2.29 and a debt-to-equity ratio of 0.11. YETI has a 52 week low of $33.88 and a 52 week high of $54.15. The business’s fifty day simple moving average is $39.26 and its 200-day simple moving average is $38.96.

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

Hedge Funds Weigh In On YETI

A number of hedge funds and other institutional investors have recently bought and sold shares of YETI. International Assets Investment Management LLC boosted its holdings in YETI by 776.4% in the 4th quarter. International Assets Investment Management LLC now owns 8,440 shares of the company’s stock valued at $437,000 after purchasing an additional 7,477 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of YETI by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 929,533 shares of the company’s stock valued at $48,131,000 after buying an additional 35,277 shares in the last quarter. Principal Securities Inc. acquired a new position in YETI during the fourth quarter worth $74,000. Jump Financial LLC purchased a new position in YETI in the fourth quarter worth $711,000. Finally, Dimensional Fund Advisors LP lifted its holdings in YETI by 8.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,268,521 shares of the company’s stock valued at $65,687,000 after acquiring an additional 103,732 shares during the period.

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.