Yeti (NYSE:YETI) Raised to Buy at Zacks Investment Research

Yeti (NYSE:YETI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday, Zacks.com reports. The brokerage presently has a $32.00 price objective on the stock. Zacks Investment Research‘s price target indicates a potential upside of 0.66% from the company’s previous close.

According to Zacks, “Yeti Holdings, Inc. designs, markets and distributes products for the outdoor and recreation market under YETI brand primarily in the United States. The company’s products are designed for use in outdoor activities, including recreational and professional pursuits targeting various categories, including hunting, fishing, camping, barbecue, farm and ranch activities and others. Yeti Holdings, Inc. is headquartered in Austin, Texas. “

YETI has been the subject of a number of other reports. Cowen set a $38.00 price target on shares of Yeti and gave the stock a “buy” rating in a research report on Wednesday. Raymond James raised their price target on shares of Yeti from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $29.65.

YETI stock traded up $2.25 during trading on Friday, reaching $31.79. The company had a trading volume of 1,423,105 shares, compared to its average volume of 876,994. The firm has a 50-day simple moving average of $28.61 and a 200-day simple moving average of $29.52. The company has a market cap of $2.47 billion and a price-to-earnings ratio of 40.76. The company has a debt-to-equity ratio of 4.12, a quick ratio of 0.66 and a current ratio of 1.58. Yeti has a twelve month low of $12.40 and a twelve month high of $38.11.

Yeti (NYSE:YETI) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.06. Yeti had a net margin of 8.08% and a return on equity of 333.94%. The company had revenue of $231.70 million during the quarter, compared to analyst estimates of $226.22 million. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. Sell-side analysts expect that Yeti will post 0.96 earnings per share for the current year.

In other Yeti news, SVP Bryan C. Barksdale sold 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $28.02, for a total transaction of $392,280.00. Company insiders own 10.70% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of YETI. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Yeti during the 2nd quarter valued at approximately $25,000. Lee Financial Co purchased a new position in shares of Yeti during the 2nd quarter valued at approximately $26,000. Meridian Wealth Management LLC purchased a new position in shares of Yeti during the 2nd quarter valued at approximately $53,000. US Bancorp DE increased its holdings in shares of Yeti by 265.0% during the 2nd quarter. US Bancorp DE now owns 2,201 shares of the company’s stock valued at $64,000 after purchasing an additional 1,598 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. increased its holdings in shares of Yeti by 58.1% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 2,545 shares of the company’s stock valued at $74,000 after purchasing an additional 935 shares in the last quarter. 46.63% of the stock is owned by institutional investors.

About 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.

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