Canaccord Genuity Group Issues Pessimistic Forecast for YETI (NYSE:YETI) Stock Price

YETI (NYSE:YETI) had its target price cut by research analysts at Canaccord Genuity Group from $44.00 to $42.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 10.48% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. Piper Sandler restated an “overweight” rating and set a $54.00 price target (down previously from $55.00) on shares of YETI in a report on Friday, November 8th. KeyCorp cut their price target on YETI from $36.00 to $35.00 and set an “underweight” rating on the stock in a report on Wednesday, January 8th. Bank of America downgraded YETI from a “buy” rating to a “neutral” rating and cut their price target for the stock from $55.00 to $40.00 in a report on Wednesday, November 6th. UBS Group cut their price target on YETI from $44.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, TD Cowen cut their price target on YETI from $46.00 to $44.00 and set a “hold” rating on the stock in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, YETI presently has a consensus rating of “Hold” and a consensus price target of $44.77.

YETI Price Performance

YETI stock opened at $38.02 on Friday. The company has a current ratio of 2.58, a quick ratio of 1.45 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $3.22 billion, a PE ratio of 16.32, a P/E/G ratio of 1.06 and a beta of 2.13. YETI has a 12-month low of $33.41 and a 12-month high of $45.25. The business’s fifty day moving average price is $38.78 and its 200 day moving average price is $39.20.

YETI (NYSE:YETI) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.06). The firm had revenue of $555.37 million during the quarter, compared to analysts’ expectations of $554.08 million. YETI had a net margin of 11.15% and a return on equity of 28.31%. On average, sell-side analysts anticipate that YETI will post 2.37 EPS for the current year.

Institutional Trading of YETI

A number of large investors have recently made changes to their positions in the company. Freestone Grove Partners LP acquired a new stake in shares of YETI in the 4th quarter valued at about $249,000. Schonfeld Strategic Advisors LLC boosted its position in shares of YETI by 51.4% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 154,848 shares of the company’s stock valued at $5,963,000 after purchasing an additional 52,558 shares during the period. AQR Capital Management LLC lifted its position in YETI by 25.1% during the 4th quarter. AQR Capital Management LLC now owns 163,995 shares of the company’s stock worth $6,315,000 after acquiring an additional 32,862 shares during the period. Northern Trust Corp lifted its position in YETI by 25.0% during the 4th quarter. Northern Trust Corp now owns 1,003,652 shares of the company’s stock worth $38,651,000 after acquiring an additional 200,443 shares during the period. Finally, Aquatic Capital Management LLC acquired a new stake in YETI during the 4th quarter worth approximately $928,000.

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.