Yeti (NYSE:YETI) Given New Price Target at Piper Sandler

Yeti (NYSE:YETI) had its price objective upped by research analysts at Piper Sandler from to in a research note issued on Friday, The Fly reports.

A number of other equities research analysts have also recently commented on YETI. Stifel Nicolaus reduced their target price on shares of Yeti from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Zacks Investment Research upgraded shares of Yeti from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Saturday, January 18th. Cowen reiterated a “buy” rating and issued a $42.00 target price on shares of Yeti in a research report on Tuesday, February 4th. ValuEngine cut shares of Yeti from a “sell” rating to a “strong sell” rating in a research report on Friday, January 10th. Finally, KeyCorp increased their target price on shares of Yeti from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $36.77.

NYSE:YETI traded down $1.35 during trading hours on Friday, reaching $32.84. 3,987,950 shares of the company were exchanged, compared to its average volume of 1,777,943. The company has a current ratio of 1.65, a quick ratio of 0.61 and a debt-to-equity ratio of 2.88. The stock’s 50-day moving average is $34.39 and its 200-day moving average is $31.49. The firm has a market cap of $3.07 billion, a PE ratio of 39.10, a price-to-earnings-growth ratio of 1.62 and a beta of 2.91. Yeti has a twelve month low of $21.81 and a twelve month high of $38.61.

Yeti (NYSE:YETI) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.06. The company had revenue of $297.60 million during the quarter, compared to analysts’ expectations of $279.55 million. Yeti had a net margin of 8.27% and a return on equity of 152.95%. The firm’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.38 earnings per share. As a group, research analysts anticipate that Yeti will post 1.04 EPS for the current year.

In related news, SVP Kirk A. Zambetti sold 32,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $31.91, for a total value of $1,021,120.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Robert O. Murdock sold 25,188 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $36.00, for a total transaction of $906,768.00. The disclosure for this sale can be found here. Corporate insiders own 10.70% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Voya Investment Management LLC boosted its stake in Yeti by 70.5% during the third quarter. Voya Investment Management LLC now owns 686,312 shares of the company’s stock worth $19,216,000 after buying an additional 283,680 shares during the period. State Street Corp boosted its stake in Yeti by 6.5% during the third quarter. State Street Corp now owns 557,552 shares of the company’s stock worth $15,611,000 after buying an additional 34,259 shares during the period. Beck Bode LLC boosted its stake in Yeti by 53.3% during the third quarter. Beck Bode LLC now owns 145,194 shares of the company’s stock worth $4,065,000 after buying an additional 50,456 shares during the period. Millennium Management LLC purchased a new position in Yeti during the third quarter worth about $1,628,000. Finally, California State Teachers Retirement System boosted its stake in Yeti by 1.2% during the third quarter. California State Teachers Retirement System now owns 48,173 shares of the company’s stock worth $1,349,000 after buying an additional 576 shares during the period. 49.91% of the stock is owned by hedge funds and other institutional investors.

About Yeti

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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