YETI (NYSE:YETI) Sets New 1-Year Low – Here’s Why

YETI Holdings, Inc. (NYSE:YETI)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $33.36 and last traded at $33.53, with a volume of 542109 shares trading hands. The stock had previously closed at $34.29.

Wall Street Analyst Weigh In

YETI has been the subject of a number of recent analyst reports. UBS Group cut their price target on shares of YETI from $44.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Stifel Nicolaus decreased their price target on YETI from $45.00 to $40.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. Piper Sandler reissued an “overweight” rating and set a $54.00 price objective (down from $55.00) on shares of YETI in a research report on Friday, November 8th. 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. Finally, Bank of America lowered shares of YETI from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $55.00 to $40.00 in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $44.77.

YETI Price Performance

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 stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 1.05 and a beta of 2.15. The company has a 50 day moving average of $37.49 and a 200 day moving average of $38.89.

YETI (NYSE:YETI) last released its 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 return on equity of 28.23% and a net margin of 9.60%. The firm had revenue of $555.37 million for the quarter, compared to analysts’ expectations of $554.08 million. As a group, equities research analysts anticipate that YETI Holdings, Inc. will post 2.57 EPS for the current year.

Hedge Funds Weigh In On YETI

A number of institutional investors and hedge funds have recently modified their holdings of YETI. Allworth Financial LP boosted its position in shares of YETI by 237.1% during the 4th quarter. Allworth Financial LP now owns 664 shares of the company’s stock worth $25,000 after acquiring an additional 467 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in YETI in the third quarter valued at approximately $38,000. Aster Capital Management DIFC Ltd acquired a new stake in YETI during the fourth quarter worth approximately $44,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of YETI during the 4th quarter worth approximately $45,000. Finally, GeoWealth Management LLC purchased a new position in shares of YETI in the 4th quarter valued at $48,000.

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.