YETI Holdings, Inc. (NYSE:YETI) has received a “Hold” consensus recommendation from sixteen research firms currently covering the company, according to Bloomberg.com’s report on September 30, 2023. Of these analysts, one has recommended selling the stock, eight have suggested holding it, and seven have given a buy recommendation. The average 12-month price target among these brokerages is $50.50.
On Friday, shares of NYSE:YETI opened at $47.62. The company has a 50-day moving average price of $45.69 and a two-hundred day moving average price of $41.23. YETI holds a market capitalization of $4.13 billion with a PE ratio of 62.66 and a beta of 2.42. The stock reached its lowest point at $27.86 in the past year and its highest at $51.27 within the same timeframe. The company maintains a debt-to-equity ratio of 0.14, with quick and current ratios of 1.16 and 2.09 respectively.
Recent activity in YETI shares shows significant interest from large investors as well. Barclays PLC increased its stake in YETI by an impressive 447.4% in the second quarter, now owning approximately 198,109 shares valued at $7,694,000 after acquiring an additional 161,921 shares during that period.
Portside Wealth Group LLC also purchased new shares in YETI in the second quarter worth around $468,000 while Comerica Bank acquired new stakes valued at about $3,465,000.
Nuveen Asset Management LLC witnessed growth in its stake by 0.8% during the same quarter and now holds approximately 998,035 shares worth $38,764,000.
Lastly,” CreativeOne Wealth LLC began investing in YETI in the second quarter, purchasing shares worth $211,000.
In terms of financial performance, YETI announced its quarterly earnings results on Thursday, August 10th. The company surpassed analysts’ consensus estimates by reporting earnings per share of $0.51 for the quarter, beating the estimate of $0.42 by $0.09. Although YETI fell slightly short of analyst predictions in terms of revenue, with $402.56 million compared to an estimated $410.70 million, it still showcased a decent net margin of 4.19% and a return on equity of 31.03%.
Analysts predict that YETI will achieve earnings per share of 2.07 for the current year.
Based on these figures and recommendations, potential investors may want to carefully consider their options before deciding whether to hold onto or sell their YETI holdings or explore opportunities to enter or increase their position. However, it is always crucial to conduct thorough research and consult with a financial advisor to make well-informed decisions in the stock market.
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YETI Receives Positive Outlook from Research Reports and Insider Trading Activity
September 30, 2023 – In the world of equities research analysis, a number of reports have recently emerged regarding YETI, a leading outdoor lifestyle brand known for its innovative products. These reports offer insights into the company’s performance and provide recommendations to investors on whether to buy or sell the stock.
One such report comes from Canaccord Genuity Group, which has raised its price objective on YETI from $54.00 to $58.00. Furthermore, the research note classified the stock as a “buy,” indicating confidence in its future prospects. This assessment was made public on Friday, August 11th.
Jefferies Financial Group joined Canaccord Genuity in expressing optimism about YETI’s potential. They also increased their price objective, from $57.00 to $60.00, and bestowed upon YETI a “buy” rating in their research report published on the same day.
On September 21st, B. Riley weighed in with coverage on YETI and presented a more neutral stance by assigning a “neutral” rating and setting a target price of $50.00 for the stock.
Piper Sandler chimed in as well, endorsing an “overweight” rating for YETI stock while raising their price target from $55.00 to $57.00 back in August.
Lastly, Morgan Stanley maintained its position by restating an “equal weight” rating and issuing a $50.00 price objective on shares of YETI through its research note released on Wednesday.
In other news relating to YETI’s financials, Chief Financial Officer Michael John Mcmullen executed a transaction involving the sale of 2,460 shares of company stock on Wednesday, August 30th. The shares were sold at an average price of $48.08 per share, resulting in a total value of $118,276.80. Following this transaction, Mcmullen now directly holds 36,949 shares in YETI, valued at $1,776,507.92.
The sale was disclosed in a document filed with the Securities and Exchange Commission (SEC). Interested parties can access this filing on the SEC’s official website. It is worth noting that company insiders collectively own 0.94% of the total outstanding stock.
These recent developments provide investors and analysts with an updated understanding of YETI’s status and outlook for future growth. While some research firms are bullish on the stock, recommending a “buy” rating and an increase in price objectives, others adopt a more neutral stance or maintain their existing ratings.
As always, investors are advised to carefully consider all available information before making any investment decisions. The equities research reports mentioned here can serve as important tools for assessing YETI’s prospects but should be used in conjunction with other relevant data and analysis to derive a comprehensive investment strategy.
