Citigroup Has Lowered Expectations for YETI (NYSE:YETI) Stock Price

YETI (NYSE:YETI) had its price target cut by stock analysts at Citigroup from $53.00 to $50.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup‘s price objective would suggest a potential upside of 27.08% from the company’s previous close.

A number of other research analysts have also recently commented on YETI. Stifel Nicolaus reduced their target price on YETI from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday. Bank of America upped their price objective on YETI from $44.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, August 14th. UBS Group set a $44.00 price objective on YETI in a research report on Thursday, October 15th. Raymond James Financial reaffirmed an “outperform” rating on shares of YETI in a research note on Thursday. Finally, Weiss Ratings upgraded shares of YETI from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.67.

YETI Stock Performance

Shares of NYSE YETI traded up $1.04 during trading on Friday, reaching $39.34. 4,652,515 shares of the stock traded hands, compared to its average volume of 1,810,075. YETI has a 52-week low of $34.90 and a 52-week high of $53.99. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.77 and a quick ratio of 0.87. The company has a 50-day moving average of $42.09 and a 200-day moving average of $43.84. The stock has a market capitalization of $2.87 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 1.01 and a beta of 1.63.

YETI (NYSE:YETI) last posted its earnings results on Thursday, November 12th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.07. YETI had a return on equity of 27.19% and a net margin of 9.39%. The firm had revenue of $509.42 million for the quarter, compared to the consensus estimate of $523.07 million. During the same quarter in the prior year, the business posted $0.48 earnings per share. The business’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts forecast that YETI will post 2.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Reinhart Partners LLC. grew its position in YETI by 5.1% during the 2nd quarter. Reinhart Partners LLC. now owns 3,277,296 shares of the company’s stock valued at $162,423,000 after purchasing an additional 158,957 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in YETI by 3.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,887,097 shares of the company’s stock worth $69,043,000 after buying an additional 70,273 shares during the last quarter. Quantinno Capital Management LP raised its holdings in YETI by 46.0% in the first quarter. Quantinno Capital Management LP now owns 1,871,188 shares of the company’s stock worth $68,467,000 after buying an additional 589,205 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of YETI during the second quarter valued at approximately $57,971,000. Finally, Fort Washington Investment Advisors Inc. OH raised its holdings in YETI by 38.5% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 847,874 shares of the company’s stock worth $34,780,000 after acquiring an additional 235,490 shares during the last quarter.

Recent YETI Headlines

Here are a few of the latest headlines about YETI:

• Positive Sentiment: Third-quarter EPS was $0.91, above the roughly $0.84 consensus, while adjusted sales rose 6% to $518 million. International sales increased 19% to $119 million, offering a bright spot. Article: YETI: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Several firms cut price targets, but many maintained bullish ratings: Citigroup and Stifel kept “buy,” while Roth Capital, KeyCorp and Baird also retained positive ratings. The lower targets nevertheless reflect more cautious expectations. Citigroup rating
• Negative Sentiment: Piper Sandler downgraded YETI from “overweight” to “neutral” and cut its price target to $39 from $58. Canaccord also moved to “hold,” while multiple other analysts reduced targets, reinforcing the cautious outlook. Piper Sandler rating

YETI Company Profile

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.