YETI (NYSE:YETI) Price Target Lowered to $35.00 at KeyCorp

YETI (NYSE:YETI) had its price target lowered by stock analysts at KeyCorp from $36.00 to $35.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. KeyCorp’s price target indicates a potential downside of 6.74% from the company’s current price.

Several other analysts have also issued reports on the stock. Canaccord Genuity Group restated a “hold” rating and set a $44.00 target price on shares of YETI in a research report on Thursday, November 14th. Piper Sandler restated an “overweight” rating and issued a $54.00 price objective (down from $55.00) on shares of YETI in a research note on Friday, November 8th. TD Cowen lowered their target price on YETI from $46.00 to $44.00 and set a “hold” rating on the stock in a research report on Monday, November 11th. Finally, Bank of America cut YETI from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $55.00 to $40.00 in a research report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $44.83.

YETI Stock Performance

YETI traded down $0.34 during mid-day trading on Wednesday, reaching $37.53. 1,361,855 shares of the company traded hands, compared to its average volume of 1,281,809. The stock has a market capitalization of $3.18 billion, a P/E ratio of 16.11, a P/E/G ratio of 1.37 and a beta of 2.14. YETI has a 52-week low of $33.41 and a 52-week high of $49.01. 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 company’s fifty day moving average price is $39.72 and its 200-day moving average price is $39.42.

Hedge Funds Weigh In On YETI

A number of institutional investors and hedge funds have recently made changes to their positions in the business. American Century Companies Inc. raised its position in YETI by 311.4% during the second quarter. American Century Companies Inc. now owns 1,967,215 shares of the company’s stock valued at $75,049,000 after purchasing an additional 1,488,994 shares during the period. Point72 Asset Management L.P. bought a new stake in YETI in the second quarter worth $23,166,000. WCM Investment Management LLC raised its stake in shares of YETI by 655.4% in the third quarter. WCM Investment Management LLC now owns 508,882 shares of the company’s stock valued at $20,701,000 after acquiring an additional 441,516 shares during the period. Millennium Management LLC boosted its stake in shares of YETI by 54.8% during the 2nd quarter. Millennium Management LLC now owns 817,366 shares of the company’s stock worth $31,183,000 after purchasing an additional 289,298 shares during the period. Finally, Marshall Wace LLP grew its holdings in YETI by 76.2% during the 2nd quarter. Marshall Wace LLP now owns 607,551 shares of the company’s stock valued at $23,178,000 after purchasing an additional 262,829 shares during the last quarter.

YETI Company Profile

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.