YETI (NYSE:YETI) Sets New 52-Week Low Following Analyst Downgrade

YETI Holdings, Inc. (NYSE:YETIGet Rating)’s stock price hit a new 52-week low during trading on Friday after Morgan Stanley lowered their price target on the stock from $97.00 to $64.00. Morgan Stanley currently has an equal weight rating on the stock. YETI traded as low as $52.05 and last traded at $52.05, with a volume of 1406 shares trading hands. The stock had previously closed at $53.00.

A number of other brokerages have also recently weighed in on YETI. Piper Sandler cut their price objective on shares of YETI from $124.00 to $89.00 in a report on Wednesday, February 16th. Credit Suisse Group lowered their price objective on shares of YETI from $115.00 to $100.00 in a research report on Wednesday, January 26th. Berenberg Bank raised shares of 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. Cowen cut their price target on YETI from $104.00 to $89.00 in a report on Friday, February 18th. Finally, Robert W. Baird cut their price target on YETI from $100.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, February 18th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, YETI currently has a consensus rating of “Buy” and a consensus target price of $100.11.

Several institutional investors have recently added to or reduced their stakes in YETI. Gleason Group Inc. grew its holdings in YETI by 90.1% during the 1st quarter. Gleason Group Inc. now owns 5,063 shares of the company’s stock worth $304,000 after acquiring an additional 2,400 shares in the last quarter. Truist Financial Corp grew its holdings in shares of YETI by 3.4% in the 1st quarter. Truist Financial Corp now owns 10,024 shares of the company’s stock worth $601,000 after acquiring an additional 326 shares during the period. Louisiana State Employees Retirement System grew its holdings in shares of YETI by 2.2% in the 1st quarter. Louisiana State Employees Retirement System now owns 23,000 shares of the company’s stock worth $1,284,000 after acquiring an additional 500 shares during the period. Exane Derivatives purchased a new stake in YETI in the 1st quarter valued at approximately $99,000. Finally, Inspire Investing LLC purchased a new stake in YETI in the 1st quarter valued at approximately $618,000. 97.62% of the stock is currently owned by institutional investors and hedge funds.

The company has a market cap of $4.41 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 1.27 and a beta of 2.59. The company has a current ratio of 1.91, a quick ratio of 1.12 and a debt-to-equity ratio of 0.18. The business has a 50 day simple moving average of $59.09 and a two-hundred day simple moving average of $75.39.

YETI (NYSE:YETIGet Rating) last announced its earnings results on Thursday, February 17th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.03. The company had revenue of $443.13 million for the quarter, compared to analyst estimates of $441.94 million. YETI had a return on equity of 52.00% and a net margin of 15.07%. YETI’s quarterly revenue was up 17.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 EPS. On average, equities research analysts expect that YETI Holdings, Inc. will post 2.68 earnings per share for the current fiscal year.

About YETI (NYSE:YETI)

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.

Featured Stories

Receive News & Ratings for YETI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for YETI and related companies with MarketBeat.com's FREE daily email newsletter.