Yeti (NYSE:YETI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday, Zacks.com reports. The brokerage presently has a $32.00 price target on the stock. Zacks Investment Research‘s price target suggests a potential upside of 0.66% from the stock’s current price.
According to Zacks, “Yeti Holdings, Inc. designs, markets and distributes products for the outdoor and recreation market under YETI brand primarily in the United States. The company’s products are designed for use in outdoor activities, including recreational and professional pursuits targeting various categories, including hunting, fishing, camping, barbecue, farm and ranch activities and others. Yeti Holdings, Inc. is headquartered in Austin, Texas. “
Several other brokerages also recently weighed in on YETI. Raymond James increased their target price on shares of Yeti from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Cowen set a $38.00 target price on shares of Yeti and gave the company a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $29.65.
Shares of YETI traded up $2.25 during midday trading on Friday, hitting $31.79. The stock had a trading volume of 1,423,105 shares, compared to its average volume of 876,994. Yeti has a 1 year low of $12.40 and a 1 year high of $38.11. The firm has a market cap of $2.47 billion and a PE ratio of 40.76. The company has a debt-to-equity ratio of 4.12, a current ratio of 1.58 and a quick ratio of 0.66. The stock’s 50 day moving average is $28.61 and its 200 day moving average is $29.52.
Yeti (NYSE:YETI) last announced its earnings results on Thursday, August 1st. The company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.06. Yeti had a net margin of 8.08% and a return on equity of 333.94%. The business had revenue of $231.70 million for the quarter, compared to the consensus estimate of $226.22 million. The company’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, equities research analysts expect that Yeti will post 0.96 earnings per share for the current fiscal year.
In related news, SVP Bryan C. Barksdale sold 14,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $28.02, for a total value of $392,280.00. Company insiders own 10.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Yeti in the 2nd quarter worth about $25,000. Lee Financial Co purchased a new position in Yeti in the 2nd quarter worth about $26,000. MML Investors Services LLC increased its stake in Yeti by 10.9% in the 2nd quarter. MML Investors Services LLC now owns 9,193 shares of the company’s stock worth $266,000 after buying an additional 903 shares during the period. C M Bidwell & Associates Ltd. increased its stake in Yeti by 58.1% in the 2nd quarter. C M Bidwell & Associates Ltd. now owns 2,545 shares of the company’s stock worth $74,000 after buying an additional 935 shares during the period. Finally, Trustcore Financial Services LLC increased its stake in Yeti by 29.6% in the 2nd quarter. Trustcore Financial Services LLC now owns 4,375 shares of the company’s stock worth $127,000 after buying an additional 1,000 shares during the period. 46.63% of the stock is currently owned by institutional investors.
Yeti Company Profile
YETI Holdings, Inc designs, markets, retails, and distributes products for the outdoor and recreation market under the YETI brand in the United States, Canada, Australia, and Japan. The company offers hard and soft coolers, as well as storage, transport, outdoor living, and associated accessories. It also provides drinkware products, including colsters, lowballs, stackable pints, mugs, tumblers, bottles, and jugs, as well as accessories comprising bottle straw caps, tumbler handles, and jug mounts under the Rambler brand.
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