Canaccord Genuity Group Reiterates Hold Rating for YETI (NYSE:YETI)

Canaccord Genuity Group reissued their hold rating on shares of YETI (NYSE:YETI) in a report released on Monday, Benzinga reports. Canaccord Genuity Group currently has a $44.00 price target on the stock.

A number of other research firms also recently commented on YETI. Citigroup cut their target price on shares of YETI from $49.00 to $47.00 and set a buy rating on the stock in a research report on Monday, August 5th. KeyCorp boosted their price objective on shares of YETI from $36.00 to $38.00 and gave the stock an underweight rating in a research note on Friday, August 9th. TD Cowen upped their target price on YETI from $43.00 to $46.00 and gave the stock a hold rating in a report on Friday, August 9th. Piper Sandler reiterated an overweight rating and issued a $54.00 price target on shares of YETI in a report on Tuesday, July 30th. Finally, Roth Mkm upped their price objective on YETI from $42.00 to $43.00 and gave the stock a neutral rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $46.43.

YETI Stock Performance

Shares of NYSE:YETI opened at $40.59 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.22 and a current ratio of 2.29. The firm has a market cap of $3.46 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 1.18 and a beta of 2.11. The firm’s 50 day simple moving average is $39.67 and its 200-day simple moving average is $38.99. YETI has a one year low of $33.88 and a one year high of $54.15.

YETI (NYSE:YETI) last issued its 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 business had revenue of $463.50 million during the quarter, compared to analyst estimates of $452.42 million. During the same period in the previous year, the company posted $0.51 EPS. YETI’s revenue was up 15.1% on a year-over-year basis. As a group, equities analysts predict that YETI will post 2.35 EPS for the current year.

Hedge Funds Weigh In On YETI

Several hedge funds and other institutional investors have recently bought and sold shares of YETI. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in YETI during the second quarter worth about $1,163,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in YETI in the second quarter valued at $106,000. Algert Global LLC acquired a new position in shares of YETI in the second quarter worth about $334,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of YETI during the 2nd quarter worth about $521,000. Finally, Scientech Research LLC acquired a new stake in shares of YETI during the 2nd quarter valued at about $533,000.

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.