Roth Capital Downgrades Yeti Holdings Inc. (YETi) to Neutral

Roth Capital analyst Matt Koranda downgraded Yeti Holdings Inc. (NYSE: YETi) from Buy to Neutral with a price target of $27.00 (from $37.00).

The analyst comments "We downgrade YETI to Neutral from Buy as we no longer view risk/reward as favorable with a weakening consumer backdrop. Our proprietary checks suggest YETI's DTC channel eroded materially in March/April, and assuming consumer softness sustains in Q2/Q3, we are resetting our 2020 DTC growth forecast. Moreover, we worry YETI's high levels of Drinkware inventory could create a drag on performance in the coming quarters. We are cutting estimates below consensus and reset our PT to $27."

For an analyst ratings summary and ratings history on Yeti Holdings Inc. click here. For more ratings news on Yeti Holdings Inc. click here.

Shares of Yeti Holdings Inc. closed at $25.51 yesterday.

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