Yeti Holdings Inc (NYSE:YETI) traded down 7.9% on Wednesday . The company traded as low as $24.50 and last traded at $24.84. 3,618,593 shares changed hands during mid-day trading, an increase of 109% from the average session volume of 1,735,412 shares. The stock had previously closed at $26.97.

A number of equities research analysts have recently weighed in on the stock. Goldman Sachs Group downgraded shares of Yeti from a “buy” rating to a “neutral” rating and lifted their price target for the company from $31.00 to $33.00 in a research report on Friday, May 3rd. Cowen assumed coverage on shares of Yeti in a research report on Thursday, April 11th. They issued an “outperform” rating and a $35.00 price target for the company. Morgan Stanley downgraded shares of Yeti from an “overweight” rating to an “equal weight” rating and set a $30.75 price target for the company. in a research report on Friday, March 29th. They noted that the move was a valuation call. Bank of America reiterated a “buy” rating and issued a $25.00 price target on shares of Yeti in a research report on Tuesday, March 19th. Finally, Stifel Nicolaus lifted their price target on shares of Yeti from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $27.61.

The company has a market cap of $2.10 billion and a PE ratio of 30.67.

Yeti (NYSE:YETI) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.06. The firm had revenue of $155.40 million during the quarter, compared to the consensus estimate of $143.20 million. Yeti’s revenue for the quarter was up 14.9% compared to the same quarter last year. As a group, sell-side analysts expect that Yeti Holdings Inc will post 0.95 EPS for the current fiscal year.

In related news, Director Roy J. Seiders sold 1,319,302 shares of Yeti 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 legal filing with the SEC, which is available through the SEC website. Also, insider Matthew J. Reintjes sold 43,908 shares of Yeti 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 three months. 10.70% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. bought a new position in Yeti in the fourth quarter valued at approximately $30,000. Legal & General Group Plc bought a new stake in shares of Yeti during the fourth quarter worth $40,000. NumerixS Investment Technologies Inc bought a new stake in shares of Yeti during the fourth quarter worth $43,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Yeti during the first quarter worth $45,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Yeti during the first quarter worth $49,000. 26.94% of the stock is currently owned by institutional investors and hedge funds.

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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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