YETI (NYSE:YETI) Stock Rating Lowered by Cowen

YETI (NYSE:YETIGet Rating) was downgraded by stock analysts at Cowen from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, The Fly reports. They presently have a $47.00 price objective on the stock. Cowen’s target price would indicate a potential upside of 12.01% from the stock’s previous close.

Several other research firms have also recently issued reports on YETI. Credit Suisse Group raised their price objective on YETI to $62.00 in a report on Wednesday, November 16th. Citigroup raised their price objective on YETI from $43.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, November 11th. Canaccord Genuity Group initiated coverage on YETI in a report on Wednesday, November 16th. They set a “buy” rating and a $58.00 price objective on the stock. Raymond James raised their price objective on YETI from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, November 11th. Finally, Piper Sandler raised their price objective on YETI from $48.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, November 11th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.67.

YETI Price Performance

Shares of NYSE:YETI opened at $41.96 on Wednesday. The business’s fifty day moving average price is $42.83 and its two-hundred day moving average price is $39.94. The stock has a market cap of $3.62 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 1.13 and a beta of 2.51. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.74 and a current ratio of 2.34. YETI has a one year low of $27.86 and a one year high of $71.33.

YETI (NYSE:YETIGet Rating) last announced its earnings results on Thursday, November 10th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. The firm had revenue of $433.56 million for the quarter, compared to analysts’ expectations of $417.76 million. YETI had a return on equity of 40.06% and a net margin of 11.97%. On average, analysts forecast that YETI will post 2.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Spire Wealth Management purchased a new position in YETI in the second quarter valued at about $27,000. Cordasco Financial Network raised its position in YETI by 333.3% in the second quarter. Cordasco Financial Network now owns 650 shares of the company’s stock valued at $28,000 after purchasing an additional 500 shares during the period. Lindbrook Capital LLC raised its position in YETI by 3,654.5% in the second quarter. Lindbrook Capital LLC now owns 826 shares of the company’s stock valued at $36,000 after purchasing an additional 804 shares during the period. CWM LLC raised its position in YETI by 71.8% in the second quarter. CWM LLC now owns 912 shares of the company’s stock valued at $39,000 after purchasing an additional 381 shares during the period. Finally, Parallel Advisors LLC raised its position in YETI by 165.3% in the second quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock valued at $44,000 after purchasing an additional 628 shares during the period. 94.24% of the stock is owned by hedge funds and other institutional investors.

About YETI

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YETI Holdings, Inc engages in the design, marketing, and distribution of products for the outdoor and recreation market. Its products include coolers, drinkware, travel bags, backpacks, multipurpose buckets, outdoor chairs, blankets, dog bowls, apparel, and accessories. The company was founded by Roy J.

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