The Goldman Sachs Group Cuts YETI (NYSE:YETI) Price Target to $29.00

YETI (NYSE:YETI) had its price target reduced by equities research analysts at The Goldman Sachs Group from $41.00 to $29.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 2.62% from the company’s previous close.

YETI has been the subject of several other research reports. UBS Group cut their price target on YETI from $43.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Canaccord Genuity Group dropped their price objective on shares of YETI from $44.00 to $42.00 and set a “hold” rating for the company in a research note on Friday, February 14th. Morgan Stanley decreased their target price on shares of YETI from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Stifel Nicolaus cut their price target on shares of YETI from $40.00 to $34.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Finally, KeyCorp raised YETI from an “underweight” rating to a “sector weight” rating in a report on Thursday, April 17th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $42.20.

YETI Stock Up 0.7 %

Shares of YETI stock opened at $28.26 on Tuesday. The stock has a 50 day moving average of $32.80 and a 200-day moving average of $36.82. The firm has a market cap of $2.34 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 1.05 and a beta of 2.04. The company has a quick ratio of 1.36, a current ratio of 2.18 and a debt-to-equity ratio of 0.10. YETI has a 12 month low of $26.61 and a 12 month high of $45.25.

YETI (NYSE:YETI) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.06). YETI had a net margin of 9.60% and a return on equity of 28.23%. The company had revenue of $555.37 million during the quarter, compared to the consensus estimate of $554.08 million. On average, equities analysts predict that YETI will post 2.57 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in shares of YETI by 16.7% in the third quarter. JPMorgan Chase & Co. now owns 436,810 shares of the company’s stock worth $17,922,000 after acquiring an additional 62,619 shares during the last quarter. Truist Financial Corp increased its holdings in shares of YETI by 304.2% in the fourth quarter. Truist Financial Corp now owns 28,501 shares of the company’s stock valued at $1,098,000 after purchasing an additional 21,450 shares in the last quarter. Clearbridge Investments LLC bought a new position in YETI in the 4th quarter worth approximately $10,767,000. KLP Kapitalforvaltning AS bought a new position in YETI in the 4th quarter valued at $693,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of YETI by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 773,553 shares of the company’s stock valued at $29,790,000 after buying an additional 39,709 shares during the period.

About YETI

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.