Canaccord Genuity Group Begins Coverage on YETI (NYSE:YETI)

Canaccord Genuity Group began coverage on shares of YETI (NYSE:YETIGet Rating) in a report issued on Thursday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $58.00 price objective on the stock.

Several other equities analysts have also issued reports on the company. Bank of America lowered YETI from a buy rating to a neutral rating and decreased their target price for the stock from $85.00 to $50.00 in a research note on Thursday, August 4th. BTIG Research dropped their price objective on YETI from $93.00 to $87.00 and set a buy rating on the stock in a report on Thursday, July 21st. Citigroup increased their price objective on YETI from $43.00 to $47.00 and gave the company a buy rating in a report on Friday, November 11th. Morgan Stanley dropped their price objective on YETI from $60.00 to $52.00 and set an equal weight rating on the stock in a report on Monday, August 8th. Finally, Stifel Nicolaus dropped their price objective on YETI from $48.00 to $43.00 in a report on Friday, August 5th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $59.00.

YETI Price Performance

YETI opened at $42.16 on Thursday. The stock’s 50-day moving average price is $33.23 and its 200 day moving average price is $40.70. YETI has a 12-month low of $27.86 and a 12-month high of $107.10. The company has a current ratio of 2.34, a quick ratio of 0.74 and a debt-to-equity ratio of 0.14. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 1.30 and a beta of 2.46.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC grew its stake in shares of YETI by 61.4% in the 1st quarter. Signaturefd LLC now owns 581 shares of the company’s stock valued at $35,000 after purchasing an additional 221 shares during the last quarter. Lindenwold Advisors grew its stake in shares of YETI by 6.1% in the 1st quarter. Lindenwold Advisors now owns 3,816 shares of the company’s stock valued at $229,000 after purchasing an additional 221 shares during the last quarter. Sumitomo Life Insurance Co. lifted its holdings in shares of YETI by 1.6% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 17,696 shares of the company’s stock valued at $766,000 after buying an additional 271 shares during the period. Beacon Pointe Advisors LLC lifted its holdings in shares of YETI by 7.2% in the 1st quarter. Beacon Pointe Advisors LLC now owns 4,189 shares of the company’s stock valued at $251,000 after buying an additional 280 shares during the period. Finally, Comerica Bank lifted its holdings in shares of YETI by 0.7% in the 1st quarter. Comerica Bank now owns 40,189 shares of the company’s stock valued at $2,243,000 after buying an additional 290 shares during the period. 99.64% of the stock is currently owned by hedge funds and other institutional investors.

YETI Company Profile

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YETI Holdings, Inc designs, markets, retails, and distributes products for the outdoor and recreation market under the YETI brand. The company offers hard and soft coolers, as well as cargo, bags, outdoor living, and associated accessories. It also provides drinkware products, such as colsters, lowballs, wine tumblers, stackable pints, mugs, tumblers, bottles, and jugs, as well as accessories comprising bottle straw caps, tumbler handles, jug mounts, and bottle slings under the Rambler brand.

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