Piper Sandler Issues Pessimistic Forecast for YETI (NYSE:YETI) Stock Price

YETI (NYSE:YETI - Get Free Report) had its price objective lowered by equities researchers at Piper Sandler from $52.00 to $38.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's target price would indicate a potential upside of 31.44% from the company's previous close.

YETI has been the subject of a number of other research reports. Jefferies Financial Group reissued a "buy" rating and issued a $55.00 price objective on shares of YETI in a research report on Monday. The Goldman Sachs Group reduced their price target on YETI from $41.00 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Robert W. Baird lowered their price objective on YETI from $50.00 to $40.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Stifel Nicolaus reduced their target price on YETI from $40.00 to $34.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Finally, Morgan Stanley decreased their price target on YETI from $48.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Friday, February 14th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $41.13.

YETI Price Performance

Shares of NYSE YETI traded up $0.07 on Monday, hitting $28.91. The company's stock had a trading volume of 1,573,481 shares, compared to its average volume of 1,696,078. The stock has a 50 day moving average of $31.59 and a 200-day moving average of $36.14. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 1.05 and a beta of 1.91. YETI has a 12-month low of $26.61 and a 12-month high of $45.25. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.18 and a quick ratio of 1.36.

YETI (NYSE:YETI - Get Free Report) 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). YETI had a net margin of 9.60% and a return on equity of 28.23%. The company had revenue of $555.37 million for the quarter, compared to analyst estimates of $554.08 million. As a group, research analysts predict that YETI will post 2.57 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Pinebridge Investments L.P. lifted its position in YETI by 42.7% during the 4th quarter. Pinebridge Investments L.P. now owns 38,074 shares of the company's stock worth $1,466,000 after acquiring an additional 11,391 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of YETI by 1,172.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,807 shares of the company's stock worth $609,000 after purchasing an additional 14,565 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of YETI by 16.7% during the third quarter. JPMorgan Chase & Co. now owns 436,810 shares of the company's stock worth $17,922,000 after purchasing an additional 62,619 shares in the last quarter. Boothbay Fund Management LLC boosted its stake in shares of YETI by 983.0% in the fourth quarter. Boothbay Fund Management LLC now owns 120,973 shares of the company's stock valued at $4,659,000 after purchasing an additional 109,803 shares during the period. Finally, Truist Financial Corp grew its holdings in YETI by 304.2% during the 4th quarter. Truist Financial Corp now owns 28,501 shares of the company's stock valued at $1,098,000 after purchasing an additional 21,450 shares in 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.

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