YETI (NYSE:YETI) Downgraded by Bank of America to “Neutral”

Bank of America downgraded shares of YETI (NYSE:YETI) from a buy rating to a neutral rating in a report released on Wednesday morning, MarketBeat.com reports. The firm currently has $40.00 price target on the stock, down from their prior price target of $55.00.

A number of other equities research analysts have also recently weighed in on YETI. Piper Sandler reaffirmed an “overweight” rating and set a $54.00 price target on shares of YETI in a report on Tuesday, July 30th. Roth Mkm raised their price target on YETI from $42.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, August 9th. KeyCorp raised their price target on YETI from $36.00 to $38.00 and gave the company an “underweight” rating in a report on Friday, August 9th. Citigroup decreased their price objective on YETI from $49.00 to $47.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Finally, Jefferies Financial Group increased their price objective on YETI from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, YETI currently has an average rating of “Hold” and an average price target of $45.62.

YETI Stock Down 3.1 %

NYSE YETI opened at $36.11 on Wednesday. The stock’s 50 day simple moving average is $38.80 and its 200 day simple moving average is $39.10. YETI has a one year low of $33.41 and a one year high of $54.15. The firm has a market cap of $3.06 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 1.07 and a beta of 2.12. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.29 and a quick ratio of 1.22.

YETI (NYSE:YETI) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. YETI had a return on equity of 28.83% and a net margin of 10.66%. The firm had revenue of $463.50 million during the quarter, compared to analysts’ expectations of $452.42 million. During the same period last year, the firm posted $0.51 EPS. The business’s revenue was up 15.1% on a year-over-year basis. As a group, sell-side analysts forecast that YETI will post 2.35 earnings per share for the current fiscal year.

Institutional Trading of YETI

A number of institutional investors and hedge funds have recently modified their holdings of YETI. V Square Quantitative Management LLC bought a new position in YETI during the 3rd quarter worth approximately $26,000. Crewe Advisors LLC bought a new position in shares of YETI during the first quarter worth $27,000. Versant Capital Management Inc grew its holdings in shares of YETI by 571.8% in the 2nd quarter. Versant Capital Management Inc now owns 833 shares of the company’s stock valued at $32,000 after buying an additional 709 shares during the period. Blue Trust Inc. increased its position in shares of YETI by 265.8% in the 3rd quarter. Blue Trust Inc. now owns 867 shares of the company’s stock valued at $33,000 after buying an additional 630 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in YETI during the 1st quarter worth $35,000.

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.