Yeti Holdings Inc (NYSE:YETI)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $28.85, but opened at $27.38. Yeti shares last traded at $27.13, with a volume of 14976 shares.
A number of brokerages have recently issued reports on YETI. Morgan Stanley reiterated an “overweight” rating on shares of Yeti in a research report on Friday, February 15th. Zacks Investment Research reiterated a “sell” rating on shares of Yeti in a research report on Saturday, January 26th. Jefferies Financial Group upped their target price on shares of Yeti from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Goldman Sachs Group lowered shares of Yeti from a “buy” rating to a “neutral” rating and upped their target price for the stock from $31.00 to $33.00 in a research report on Friday, May 3rd. Finally, Cowen began coverage on shares of Yeti in a research report on Thursday, April 11th. They set an “outperform” rating and a $35.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $27.61.
The firm has a market cap of $2.34 billion and a price-to-earnings ratio of 34.13.
Yeti (NYSE:YETI) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.06. The business had revenue of $155.40 million during the quarter, compared to analyst estimates of $143.20 million. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. Equities research analysts expect that Yeti Holdings Inc will post 0.95 earnings per share for the current fiscal year.
In related news, Director Roy J. Seiders sold 1,319,302 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $28.50, for a total value of $37,600,107.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Matthew J. Reintjes sold 43,908 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $28.50, for a total transaction of $1,251,378.00. The disclosure for this sale can be found here. Insiders sold 2,549,150 shares of company stock worth $72,650,775 over the last 90 days. 10.70% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the business. FMR LLC bought a new stake in Yeti in the fourth quarter valued at approximately $53,452,000. Jennison Associates LLC bought a new stake in Yeti in the fourth quarter valued at approximately $17,726,000. BlackRock Inc. increased its stake in Yeti by 4.1% in the first quarter. BlackRock Inc. now owns 1,086,685 shares of the company’s stock valued at $32,872,000 after purchasing an additional 42,587 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Yeti in the fourth quarter valued at approximately $11,805,000. Finally, Norges Bank bought a new stake in Yeti in the fourth quarter valued at approximately $10,483,000. 20.43% of the stock is owned by hedge funds and other institutional investors.
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About Yeti (NYSE: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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