YETI (NYSE:YETI) Sets New 12-Month Low – Should You Sell?

YETI Holdings, Inc. (NYSE:YETI)’s stock price reached a new 52-week low on Wednesday . The stock traded as low as $33.41 and last traded at $34.44, with a volume of 1108878 shares changing hands. The stock had previously closed at $37.25.

Analysts Set New Price Targets

YETI has been the subject of a number of analyst reports. Jefferies Financial Group upped their price objective on shares of YETI from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Roth Mkm upped their price objective on shares of YETI from $42.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Piper Sandler reaffirmed an “overweight” rating and set a $54.00 price objective on shares of YETI in a research note on Tuesday, July 30th. B. Riley increased their price target on shares of YETI from $38.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Finally, Citigroup reduced their price target on shares of YETI from $49.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $45.62.

YETI Stock Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 2.29 and a quick ratio of 1.22. The firm has a fifty day simple moving average of $38.87 and a 200 day simple moving average of $39.12. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 15.94, a P/E/G ratio of 1.07 and a beta of 2.12.

YETI (NYSE:YETI) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.64 by $0.06. YETI had a return on equity of 28.83% and a net margin of 10.66%. The company had revenue of $463.50 million for the quarter, compared to the consensus estimate of $452.42 million. During the same quarter last year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, sell-side analysts expect that YETI Holdings, Inc. will post 2.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On YETI

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd grew its stake in shares of YETI by 13.5% in the third quarter. Covestor Ltd now owns 2,880 shares of the company’s stock worth $118,000 after acquiring an additional 343 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of YETI by 52.9% in the third quarter. GAMMA Investing LLC now owns 1,223 shares of the company’s stock worth $50,000 after acquiring an additional 423 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co grew its stake in shares of YETI by 1.6% in the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 29,965 shares of the company’s stock worth $1,229,000 after acquiring an additional 465 shares during the last quarter. Arizona State Retirement System grew its stake in shares of YETI by 2.0% in the second quarter. Arizona State Retirement System now owns 24,337 shares of the company’s stock worth $928,000 after acquiring an additional 468 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its stake in shares of YETI by 0.3% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 146,236 shares of the company’s stock worth $5,637,000 after acquiring an additional 480 shares during the last quarter.

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.