Canaccord Genuity Group Reiterates Hold Rating for YETI (NYSE:YETI)

YETI (NYSE:YETI)‘s stock had its “hold” rating reissued by equities research analysts at Canaccord Genuity Group in a research note issued on Thursday,Benzinga reports. They presently have a $44.00 price target on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 11.11% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Roth Mkm increased their price objective on YETI from $42.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Citigroup decreased their price objective on shares of YETI from $49.00 to $47.00 and set a “buy” rating for the company in a report on Monday, August 5th. Bank of America cut shares of YETI from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $55.00 to $40.00 in a report on Wednesday, November 6th. Piper Sandler reissued an “overweight” rating and set a $54.00 price target (down from $55.00) on shares of YETI in a report on Friday, November 8th. Finally, TD Cowen cut their price objective on YETI from $46.00 to $44.00 and set a “hold” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $45.46.

YETI Stock Down 2.6 %

YETI stock traded down $1.05 during mid-day trading on Thursday, reaching $39.60. The stock had a trading volume of 530,819 shares, compared to its average volume of 1,621,534. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.58 and a quick ratio of 1.45. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 1.20 and a beta of 2.12. YETI has a one year low of $33.41 and a one year high of $54.15. The company has a 50-day moving average price of $38.84 and a two-hundred day moving average price of $39.24.

Institutional Trading of YETI

A number of hedge funds and other institutional investors have recently modified their holdings of YETI. Covestor Ltd boosted its stake in YETI by 13.5% in the 3rd quarter. Covestor Ltd now owns 2,880 shares of the company’s stock worth $118,000 after purchasing an additional 343 shares during the period. GAMMA Investing LLC increased its holdings in YETI by 52.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,223 shares of the company’s stock valued at $50,000 after acquiring an additional 423 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co boosted its holdings in shares of YETI by 1.6% during the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 29,965 shares of the company’s stock valued at $1,229,000 after purchasing an additional 465 shares during the last quarter. Arizona State Retirement System grew its position in shares of YETI by 2.0% during the second quarter. Arizona State Retirement System now owns 24,337 shares of the company’s stock valued at $928,000 after purchasing an additional 468 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in shares of YETI by 0.3% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 146,236 shares of the company’s stock worth $5,637,000 after purchasing an additional 480 shares during the last quarter.

About YETI

YETI Holdings, Inc designs, retails, and distributes products for the outdoor and recreation market under the YETI brand. It offers coolers and equipment, including hard and soft coolers, cargo, bags, outdoor living, and associated accessories, as well as backpacks, duffel bags, luggage, packing cubes, carryalls, camp chairs, blankets, dog beds, dog bowls, and gear cases under the LoadOut, Panga, Crossroads, Camino, Hondo Base, Trailhead, Lowlands, Boomer, and SideKick Dry brands.