YETI (NYSE:YETI) Shares Cross Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• YETI shares fell below their 200-day moving average of $43.93, trading as low as $42.13 and last at $42.81.
• Analyst sentiment remains positive: 12 analysts rate the stock Buy and four Hold, giving it a consensus “Moderate Buy” rating and a $55.20 price target.
• YETI beat quarterly earnings expectations, reporting $0.67 per share versus $0.54 expected; revenue rose 8.5% year over year to $483.87 million.

YETI Holdings, Inc. (NYSE:YETI - Get Free Report)'s share price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $43.93 and traded as low as $42.13. YETI shares last traded at $42.81, with a volume of 4,827,593 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on YETI. Jefferies Financial Group reissued a "buy" rating and set a $80.00 price objective on shares of YETI in a research report on Thursday, August 13th. Weiss Ratings raised shares of YETI from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, August 21st. Roth Capital reaffirmed a "buy" rating and issued a $62.00 target price on shares of YETI in a research note on Friday, August 14th. Piper Sandler upped their target price on shares of YETI from $54.00 to $58.00 and gave the stock an "overweight" rating in a research note on Monday, August 10th. Finally, UBS Group set a $44.00 target price on YETI in a report on Thursday, October 15th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $55.20.

YETI Stock Performance

The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 18.69, a P/E/G ratio of 1.18 and a beta of 1.63. The stock's fifty day moving average is $42.19 and its two-hundred day moving average is $43.93. The company has a quick ratio of 0.87, a current ratio of 1.75 and a debt-to-equity ratio of 0.16.

YETI (NYSE:YETI - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.13. The business had revenue of $483.87 million during the quarter, compared to analysts' expectations of $483.80 million. YETI had a return on equity of 23.79% and a net margin of 9.24%. YETI's quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company posted $0.66 earnings per share. On average, analysts predict that YETI Holdings, Inc. will post 2.56 earnings per share for the current year.

Institutional Trading of YETI

A number of hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new stake in shares of YETI during the 2nd quarter worth about $57,971,000. Quantinno Capital Management LP raised its holdings in YETI by 46.0% in the 1st quarter. Quantinno Capital Management LP now owns 1,871,188 shares of the company's stock valued at $68,467,000 after acquiring an additional 589,205 shares during the period. GW&K Investment Management LLC increased its stake in shares of YETI by 952.4% during the third quarter. GW&K Investment Management LLC now owns 571,513 shares of the company's stock worth $23,444,000 after purchasing an additional 517,208 shares during the period. Handelsbanken Fonder AB grew its holdings in YETI by 165.5% in the 2nd quarter. Handelsbanken Fonder AB now owns 482,858 shares of the company's stock valued at $23,930,000 after buying an additional 300,958 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in YETI by 2,858.7% in the 1st quarter. Empowered Funds LLC now owns 289,125 shares of the company's stock valued at $10,579,000 after buying an additional 279,353 shares in the last quarter.

About YETI

YETI Holdings, Inc. designs, markets and distributes premium outdoor products. Founded in 2006 by brothers Roy and Ryan Seiders, the company is headquartered in Austin, Texas. Its product lineup includes hard and soft coolers, insulated drinkware, bags, outdoor and camping equipment, and related accessories. YETI sells through its website, company-operated stores and a network of retail partners. The company serves customers in the United States and international markets, including Canada, Europe, Australia and parts of Asia.

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