YETI (NYSE:YETI) Stock Price Down 14.8% - Time to Sell?

Key Points

• YETI Holdings, Inc. shares fell by 14.8%, closing at $31.04 after trading as low as $31.80, with trading volume decreasing significantly by 64% compared to its average.
• Analysts have mixed opinions on YETI; Piper Sandler downgraded their target price to $38.00, while Jefferies Financial Group set a target of $55.00, indicating a consensus target price of $39.47.
• The company reported a quarterly earnings per share of $0.31, beating expectations of $0.27, and revenue increased by 2.8% year-over-year, reaching $351.13 million.

YETI Holdings, Inc. (NYSE:YETI - Get Free Report)'s share price traded down 14.8% on Thursday . The stock traded as low as $31.80 and last traded at $31.04. 770,024 shares were traded during mid-day trading, a decline of 64% from the average session volume of 2,138,264 shares. The stock had previously closed at $36.43.

Analyst Upgrades and Downgrades

Several research analysts recently commented on YETI shares. Piper Sandler reduced their target price on shares of YETI from $52.00 to $38.00 and set an "overweight" rating for the company in a report on Monday, May 5th. UBS Group increased their target price on shares of YETI from $31.00 to $35.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Raymond James Financial lowered their price target on YETI from $50.00 to $34.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Stifel Nicolaus lowered their price target 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, Jefferies Financial Group reaffirmed a "buy" rating and set a $55.00 price target on shares of YETI in a research report on Monday, May 5th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $39.47.

YETI Stock Performance

The company has a current ratio of 2.58, a quick ratio of 1.47 and a debt-to-equity ratio of 0.09. The company's 50 day moving average is $33.12 and its 200-day moving average is $33.02. The company has a market capitalization of $2.68 billion, a P/E ratio of 15.57, a price-to-earnings-growth ratio of 3.19 and a beta of 1.84.

YETI (NYSE:YETI - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.04. YETI had a net margin of 9.59% and a return on equity of 26.48%. The business had revenue of $351.13 million during the quarter, compared to analyst estimates of $347.72 million. During the same period last year, the business earned $0.34 EPS. YETI's revenue was up 2.8% compared to the same quarter last year. Equities analysts anticipate that YETI Holdings, Inc. will post 2.57 EPS for the current fiscal year.

Hedge Funds Weigh In On YETI

A number of institutional investors and hedge funds have recently made changes to their positions in YETI. Pinebridge Investments L.P. raised its position in shares of YETI by 42.7% during the fourth quarter. Pinebridge Investments L.P. now owns 38,074 shares of the company's stock valued at $1,466,000 after buying an additional 11,391 shares during the last quarter. Tower Research Capital LLC TRC raised 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 valued at $609,000 after buying an additional 14,565 shares during the last quarter. Homestead Advisers Corp raised its position in shares of YETI by 15.2% during the first quarter. Homestead Advisers Corp now owns 95,300 shares of the company's stock valued at $3,154,000 after buying an additional 12,600 shares during the last quarter. Boothbay Fund Management LLC increased its position in YETI by 983.0% in the fourth quarter. Boothbay Fund Management LLC now owns 120,973 shares of the company's stock worth $4,659,000 after purchasing an additional 109,803 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in YETI by 44.5% in the first quarter. Envestnet Asset Management Inc. now owns 321,065 shares of the company's stock worth $10,627,000 after purchasing an additional 98,884 shares during 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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