Yeti (NYSE:YETI) Stock Price Down 7%

Yeti Holdings Inc (NYSE:YETI) fell 7% on Thursday . The company traded as low as $29.76 and last traded at $32.34, 4,745,699 shares changed hands during mid-day trading. An increase of 178% from the average session volume of 1,704,420 shares. The stock had previously closed at $34.76.

A number of research firms have recently weighed in on YETI. Cowen began coverage on shares of Yeti in a research report on Thursday, April 11th. They issued an “outperform” rating and a $35.00 price target for the company. Goldman Sachs Group downgraded shares of Yeti from a “buy” rating to a “neutral” rating and lifted their price target for the company from $31.00 to $33.00 in a research report on Friday, May 3rd. Zacks Investment Research downgraded shares of Yeti from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 5th. Finally, Raymond James lifted their price target on shares of Yeti from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Yeti has an average rating of “Buy” and an average price target of $29.16.

The business’s 50 day moving average is $31.25. The stock has a market capitalization of $2.94 billion and a price-to-earnings ratio of 38.92. The company has a debt-to-equity ratio of 7.72, a current ratio of 1.54 and a quick ratio of 0.59.

Yeti (NYSE:YETI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.06. The firm had revenue of $231.70 million during the quarter, compared to the consensus estimate of $226.22 million. Yeti’s revenue for the quarter was up 12.3% compared to the same quarter last year. Analysts anticipate that Yeti Holdings Inc will post 0.95 earnings per share for the current fiscal year.

In related news, Director Roy J. Seiders sold 1,319,302 shares of Yeti stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $28.50, for a total value of $37,600,107.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Matthew J. Reintjes sold 43,908 shares of Yeti stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $28.50, for a total transaction of $1,251,378.00. The disclosure for this sale can be found here. Insiders sold 2,549,150 shares of company stock worth $72,650,775 over the last three months. 10.70% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in YETI. FMR LLC bought a new position in Yeti in the fourth quarter valued at approximately $53,452,000. BlackRock Inc. bought a new stake in shares of Yeti during the fourth quarter worth $15,494,000. Norges Bank bought a new stake in shares of Yeti during the fourth quarter worth $10,483,000. Oak Ridge Investments LLC bought a new stake in shares of Yeti during the first quarter worth $12,234,000. Finally, Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Yeti during the first quarter worth $6,678,000. 26.45% of the stock is currently owned by institutional investors and hedge funds.

Yeti Company Profile (NYSE:YETI)

YETI Holdings, Inc designs, markets, retails, and distributes products for the outdoor and recreation market under the YETI brand in the United States, Canada, Australia, and Japan. The company offers hard and soft coolers, as well as storage, transport, outdoor living, and associated accessories. It also provides drinkware products, including colsters, lowballs, stackable pints, mugs, tumblers, bottles, and jugs, as well as accessories comprising bottle straw caps, tumbler handles, and jug mounts under the Rambler brand.

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