Raymond James Cuts YETI (NYSE:YETI) Price Target to $34.00

YETI (NYSE:YETI) had its target price decreased by Raymond James from $50.00 to $34.00 in a report issued on Friday,Benzinga reports. Raymond James currently has an outperform rating on the stock.

Other analysts also recently issued research reports about the stock. Piper Sandler decreased their price target on shares of YETI from $52.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. UBS Group decreased their price objective on shares of YETI from $43.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. The Goldman Sachs Group reduced their price target on shares of YETI from $41.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Stifel Nicolaus reduced their price objective on shares of YETI from $40.00 to $34.00 and set a “hold” rating for the company in a report on Thursday, April 10th. Finally, Canaccord Genuity Group dropped their price target on shares of YETI from $44.00 to $42.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, YETI has an average rating of “Hold” and a consensus price target of $39.40.

YETI Trading Down 5.0%

NYSE YETI opened at $28.14 on Friday. YETI has a one year low of $26.61 and a one year high of $45.25. The company’s 50 day moving average price is $30.85 and its 200 day moving average price is $35.84. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.36 and a current ratio of 2.18. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 1.05 and a beta of 1.91.

YETI (NYSE:YETI) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.27 by $0.04. The firm had revenue of $351.13 million for the quarter, compared to analyst estimates of $347.72 million. YETI had a net margin of 9.60% and a return on equity of 28.23%. YETI’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 earnings per share. On average, sell-side analysts predict that YETI will post 2.57 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Ontario Teachers Pension Plan Board acquired a new position in shares of YETI during the first quarter worth approximately $2,735,000. Charles Schwab Investment Management Inc. raised its stake in YETI by 2.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 790,538 shares of the company’s stock worth $26,167,000 after acquiring an additional 16,985 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in YETI by 23.8% during the first quarter. Westwood Holdings Group Inc. now owns 1,193,043 shares of the company’s stock worth $39,490,000 after acquiring an additional 229,709 shares in the last quarter. Costello Asset Management INC bought a new stake in shares of YETI during the first quarter worth $25,000. Finally, Baker Avenue Asset Management LP bought a new stake in shares of YETI during the first quarter worth $209,000.

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.