Yeti (NYSE:YETI) Cut to “Hold” at Berenberg Bank

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Berenberg Bank lowered shares of Yeti (NYSE:YETI) from a buy rating to a hold rating in a report released on Monday morning, Benzinga reports. The firm currently has $48.00 price objective on the stock.

Several other equities research analysts also recently issued reports on the company. TheStreet raised Yeti from a d rating to a c- rating in a research note on Tuesday, May 12th. Goldman Sachs Group lowered Yeti from a buy rating to a neutral rating and increased their price objective for the company from $31.00 to $40.00 in a report on Tuesday, July 7th. Morgan Stanley boosted their price objective on shares of Yeti from $26.00 to $41.00 and gave the stock an equal weight rating in a research note on Monday, August 10th. Stifel Nicolaus boosted their price objective on shares of Yeti from $33.00 to $45.00 and gave the stock a hold rating in a research note on Friday, July 24th. Finally, Raymond James upped their target price on shares of Yeti from $39.00 to $56.00 and gave the company an outperform rating in a research note on Friday, August 7th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $49.07.

NYSE:YETI opened at $50.37 on Monday. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.80 and a quick ratio of 1.74. Yeti has a 1-year low of $15.28 and a 1-year high of $55.04. The firm has a 50-day moving average of $46.02 and a two-hundred day moving average of $33.35. The stock has a market cap of $4.38 billion, a P/E ratio of 64.58, a PEG ratio of 2.37 and a beta of 2.92.

Yeti (NYSE:YETI) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.25. The firm had revenue of $246.90 million during the quarter, compared to the consensus estimate of $188.55 million. Yeti had a return on equity of 84.63% and a net margin of 7.17%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 EPS. As a group, equities analysts expect that Yeti will post 1.32 earnings per share for the current year.

In other news, CEO Matthew J. Reintjes sold 10,000 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $48.99, for a total value of $489,900.00. Following the sale, the chief executive officer now owns 409,828 shares of the company’s stock, valued at approximately $20,077,473.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Bryan C. Barksdale sold 5,970 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $36.19, for a total transaction of $216,054.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 561,692 shares of company stock worth $19,589,742. 10.70% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in Yeti by 45.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 487,942 shares of the company’s stock worth $20,850,000 after buying an additional 153,585 shares in the last quarter. Legend Financial Advisors Inc. acquired a new position in Yeti during the 2nd quarter worth about $743,000. AQR Capital Management LLC lifted its position in Yeti by 13.5% during the 2nd quarter. AQR Capital Management LLC now owns 19,576 shares of the company’s stock worth $836,000 after buying an additional 2,332 shares in the last quarter. California State Teachers Retirement System lifted its position in Yeti by 32.8% during the 2nd quarter. California State Teachers Retirement System now owns 111,828 shares of the company’s stock worth $4,778,000 after buying an additional 27,591 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in Yeti by 3,059.6% during the 2nd quarter. Great West Life Assurance Co. Can now owns 83,286 shares of the company’s stock worth $3,555,000 after buying an additional 80,650 shares in the last quarter. Institutional investors and hedge funds own 69.95% of the company’s stock.

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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Analyst Recommendations for Yeti (NYSE:YETI)

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