Yeti Holdings Inc (NYSE:YETI)’s stock price dropped 5.6% during mid-day trading on Wednesday . The stock traded as low as $27.50 and last traded at $28.05, approximately 1,266,934 shares traded hands during trading. A decline of 25% from the average daily volume of 1,689,784 shares. The stock had previously closed at $29.72.

YETI has been the topic of several analyst reports. Zacks Investment Research cut Yeti from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 5th. Raymond James lifted their target price on Yeti from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Goldman Sachs Group cut Yeti from a “buy” rating to a “neutral” rating and lifted their target price for the company from $31.00 to $33.00 in a research report on Friday, May 3rd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Yeti presently has an average rating of “Buy” and a consensus price target of $29.16.

The stock has a 50-day simple moving average of $31.66. The company has a current ratio of 1.58, a quick ratio of 0.66 and a debt-to-equity ratio of 4.12. The firm has a market capitalization of $2.55 billion and a price-to-earnings ratio of 35.96.

Yeti (NYSE:YETI) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.06. Yeti had a return on equity of 333.94% and a net margin of 8.08%. The business had revenue of $231.70 million for the quarter, compared to analysts’ expectations of $226.22 million. The company’s quarterly revenue was up 12.3% on a year-over-year basis. On average, equities analysts expect that Yeti Holdings Inc will post 0.96 EPS for the current year.

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC purchased a new position in Yeti in the fourth quarter worth $2,804,000. Sit Investment Associates Inc. purchased a new position in shares of Yeti during the 1st quarter valued at $1,596,000. Northern Trust Corp purchased a new position in shares of Yeti during the 4th quarter valued at $3,249,000. Oak Ridge Investments LLC purchased a new position in shares of Yeti during the 1st quarter valued at $12,234,000. Finally, Alps Advisors Inc. purchased a new position in shares of Yeti during the 1st quarter valued at $493,000. 27.23% of the stock is currently owned by institutional investors and hedge funds.

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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