Yeti (NYSE:YETI) Shares Gap Down to $29.97

Yeti Holdings Inc (NYSE:YETI)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $28.90, but opened at $29.97. Yeti shares last traded at $31.07, with a volume of 32,116 shares changing hands.

Several research firms have issued reports on YETI. Cowen set a $38.00 price target on shares of Yeti and gave the stock a “buy” rating in a research report on Wednesday, October 9th. ValuEngine lowered shares of Yeti from a “hold” rating to a “sell” rating in a research note on Thursday, October 24th. Piper Jaffray Companies set a $39.00 target price on shares of Yeti and gave the company a “buy” rating in a report on Monday, October 21st. KeyCorp raised their target price on shares of Yeti from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Citigroup cut Yeti from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $40.00 to $37.00 in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $34.15.

The company has a current ratio of 1.65, a quick ratio of 0.61 and a debt-to-equity ratio of 2.88. The company has a 50 day moving average of $31.36 and a 200-day moving average of $29.61. The firm has a market capitalization of $2.68 billion, a P/E ratio of 40.41, a P/E/G ratio of 1.94 and a beta of 2.96.

Yeti (NYSE:YETI) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.06. The firm had revenue of $229.10 million for the quarter, compared to analysts’ expectations of $222.35 million. Yeti had a return on equity of 152.95% and a net margin of 8.27%. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.24 EPS. As a group, sell-side analysts forecast that Yeti Holdings Inc will post 1.04 EPS for the current fiscal year.

In other Yeti news, major shareholder Ryan R. Seiders sold 1,462,751 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $29.00, for a total transaction of $42,419,779.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Bryan C. Barksdale sold 14,000 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $28.02, for a total transaction of $392,280.00. Over the last three months, insiders sold 2,417,983 shares of company stock worth $70,107,787. Insiders own 10.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Yeti by 107.2% in the second quarter. Vanguard Group Inc. now owns 4,159,500 shares of the company’s stock valued at $120,418,000 after purchasing an additional 2,151,857 shares during the last quarter. Eagle Asset Management Inc. bought a new stake in Yeti in the 2nd quarter valued at $31,092,000. Carillon Tower Advisers Inc. acquired a new stake in shares of Yeti in the second quarter valued at approximately $28,383,000. BlackRock Inc. lifted its position in shares of Yeti by 83.1% in the second quarter. BlackRock Inc. now owns 1,989,544 shares of the company’s stock worth $57,597,000 after purchasing an additional 902,859 shares in the last quarter. Finally, Hodges Capital Management Inc. boosted its holdings in Yeti by 288.9% during the second quarter. Hodges Capital Management Inc. now owns 644,305 shares of the company’s stock worth $18,653,000 after purchasing an additional 478,630 shares during the last quarter. 49.58% of the stock is currently owned by hedge funds and other institutional investors.

Yeti Company Profile (NYSE:YETI)

YETI Holdings, Inc designs, markets, retails, and distributes products for the outdoor and recreation market under the YETI brand in the United States, Canada, Australia, and Japan. The company offers hard and soft coolers, as well as storage, transport, outdoor living, and associated accessories. It also provides drinkware products, including colsters, lowballs, stackable pints, mugs, tumblers, bottles, and jugs, as well as accessories comprising bottle straw caps, tumbler handles, and jug mounts under the Rambler brand.

Read More: What Does a Sell-Side Analyst Rating Mean?

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