YETI (NYSE:YETI) Cut to “Neutral” at Bank of America

Bank of America downgraded shares of YETI (NYSE:YETI) from a buy rating to a neutral rating in a research report sent to investors on Wednesday, MarketBeat.com reports. They currently have $40.00 price objective on the stock, down from their previous price objective of $55.00.

A number of other analysts also recently issued reports on YETI. Roth Mkm boosted their price objective on shares of YETI from $42.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, August 9th. KeyCorp boosted their price objective on shares of YETI from $36.00 to $38.00 and gave the company an “underweight” rating in a report on Friday, August 9th. Citigroup cut their price target 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. B. Riley upped their price target on shares of YETI from $38.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Finally, Jefferies Financial Group upped their price target on shares of YETI from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, YETI has an average rating of “Hold” and a consensus price target of $45.62.

YETI Stock Performance

Shares of YETI stock opened at $38.65 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.22 and a current ratio of 2.29. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 1.05 and a beta of 2.12. YETI has a 52 week low of $33.41 and a 52 week high of $54.15. The company has a 50-day simple moving average of $38.73 and a 200 day simple moving average of $39.11.

YETI (NYSE:YETI) last posted its quarterly earnings data 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 firm had revenue of $463.50 million during 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 for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.51 EPS. On average, sell-side analysts predict that YETI will post 2.35 earnings per share for the current year.

Hedge Funds Weigh In On YETI

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new position in YETI in the 3rd quarter valued at approximately $26,000. Crewe Advisors LLC acquired a new position in YETI in the 1st quarter valued at approximately $27,000. Versant Capital Management Inc increased its position in YETI by 571.8% in the 2nd quarter. Versant Capital Management Inc now owns 833 shares of the company’s stock valued at $32,000 after acquiring an additional 709 shares during the period. Blue Trust Inc. increased its position in YETI by 265.8% in the 3rd quarter. Blue Trust Inc. now owns 867 shares of the company’s stock valued at $33,000 after acquiring an additional 630 shares during the period. Finally, Fidelis Capital Partners LLC acquired a new position in YETI in the 1st quarter valued at approximately $35,000.

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.