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

YETI (NYSE:YETI)‘s stock had its “hold” rating reaffirmed by equities researchers at Canaccord Genuity Group in a research report issued on Thursday,Benzinga reports. They presently have a $44.00 price target on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 15.30% from the company’s previous close.

Several other research firms have also recently commented on YETI. B. Riley increased their price target on shares of YETI from $38.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Piper Sandler reaffirmed an “overweight” rating and set a $54.00 price objective (down previously from $55.00) on shares of YETI in a report on Friday, November 8th. Citigroup lowered their target price on YETI from $49.00 to $47.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Roth Mkm upped their price target on YETI from $42.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Finally, Bank of America cut YETI from a “buy” rating to a “neutral” rating and decreased their price target for the company from $55.00 to $40.00 in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, YETI currently has a consensus rating of “Hold” and a consensus price target of $45.46.

YETI Stock Down 1.4 %

Shares of NYSE:YETI opened at $38.16 on Thursday. The company has a quick ratio of 1.45, a current ratio of 2.58 and a debt-to-equity ratio of 0.10. The firm has a market cap of $3.24 billion, a P/E ratio of 16.38, a P/E/G ratio of 1.12 and a beta of 2.12. YETI has a 12 month low of $33.41 and a 12 month high of $54.15. The company’s 50-day moving average price is $38.87 and its two-hundred day moving average price is $39.25.

Hedge Funds Weigh In On YETI

Several institutional investors have recently modified their holdings of the stock. Covestor Ltd boosted its stake in YETI by 13.5% during the 3rd quarter. Covestor Ltd now owns 2,880 shares of the company’s stock worth $118,000 after acquiring an additional 343 shares during the last quarter. Peloton Wealth Strategists boosted its position in shares of YETI by 0.4% during the third quarter. Peloton Wealth Strategists now owns 86,275 shares of the company’s stock worth $3,540,000 after purchasing an additional 350 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of 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 buying an additional 423 shares during the period. DORCHESTER WEALTH MANAGEMENT Co increased its position in shares of YETI by 1.6% in the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 29,965 shares of the company’s stock valued at $1,229,000 after buying an additional 465 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of YETI by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 24,337 shares of the company’s stock valued at $928,000 after buying an additional 468 shares in 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.