Yeti Holdings Inc (NYSE:YETI) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Yeti Holdings Inc (NYSE:YETI) have been assigned an average rating of “Buy” from the thirteen brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $29.16.

Several equities research analysts recently weighed in on YETI shares. Zacks Investment Research cut Yeti from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 5th. Raymond James boosted their target price on Yeti from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, Goldman Sachs Group cut Yeti from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $31.00 to $33.00 in a research note on Friday, May 3rd.

YETI stock traded up $0.36 during trading on Wednesday, hitting $28.44. 5,955 shares of the company’s stock were exchanged, compared to its average volume of 1,718,566. The business has a 50-day moving average price of $31.55 and a two-hundred day moving average price of $28.17. The stock has a market capitalization of $2.41 billion and a price-to-earnings ratio of 36.42. Yeti has a 52-week low of $12.40 and a 52-week high of $38.11. The company has a current ratio of 1.58, a quick ratio of 0.66 and a debt-to-equity ratio of 4.12.

Yeti (NYSE:YETI) last posted its earnings results on Thursday, August 1st. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.06. The firm had revenue of $231.70 million during the quarter, compared to analysts’ expectations of $226.22 million. Yeti had a return on equity of 333.94% and a net margin of 8.08%. The business’s revenue was up 12.3% on a year-over-year basis. On average, equities research analysts anticipate that Yeti will post 0.96 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in YETI. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Yeti during the second quarter worth approximately $25,000. Lee Financial Co acquired a new position in shares of Yeti in the second quarter valued at approximately $26,000. Legal & General Group Plc acquired a new position in shares of Yeti in the fourth quarter valued at approximately $40,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Yeti in the first quarter valued at approximately $45,000. Finally, Meridian Wealth Management LLC acquired a new position in shares of Yeti in the second quarter valued at approximately $53,000. 31.37% of the stock is currently owned by institutional investors.

Yeti Company Profile

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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Analyst Recommendations for Yeti (NYSE:YETI)

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