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

YETI Holdings, Inc. (NYSE:YETI) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $33.17 and last traded at $33.37, with a volume of 345984 shares. The stock had previously closed at $33.98.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on YETI. KeyCorp cut their price objective on YETI from $36.00 to $35.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. UBS Group cut their price objective on YETI from $44.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Morgan Stanley lowered their target price on YETI from $48.00 to $45.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Stifel Nicolaus lowered their target price on YETI from $45.00 to $40.00 and set a “hold” rating for the company in a research note on Friday, February 14th. Finally, Canaccord Genuity Group lowered their target price on YETI from $44.00 to $42.00 and set a “hold” rating for the company in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, YETI currently has an average rating of “Hold” and a consensus target price of $44.77.

YETI Stock Performance

The company has a quick ratio of 1.36, a current ratio of 2.18 and a debt-to-equity ratio of 0.10. The company has a market cap of $2.65 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.05 and a beta of 2.15. The business has a fifty day moving average of $36.96 and a 200 day moving average of $38.65.

YETI (NYSE:YETI) last announced its earnings results on Thursday, February 13th. The company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.06). The business had revenue of $555.37 million for the quarter, compared to the consensus estimate of $554.08 million. YETI had a net margin of 9.60% and a return on equity of 28.23%. On average, equities analysts predict that YETI Holdings, Inc. will post 2.57 EPS for the current year.

Hedge Funds Weigh In On YETI

Institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP raised its holdings in YETI by 237.1% in the fourth quarter. Allworth Financial LP now owns 664 shares of the company’s stock worth $25,000 after purchasing an additional 467 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in YETI in the third quarter worth $38,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of YETI in the fourth quarter worth $44,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of YETI in the fourth quarter worth $45,000. Finally, GeoWealth Management LLC purchased a new stake in shares of YETI in the fourth quarter worth $48,000.

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.