KeyBanc Lowers Price Target for YETI Holdings, Inc. (NYSE: YETI) Amid Sales Forecast Cut

Font: Financial Modeling Prep  • Nov 13, 2026

• KeyBanc lowered its price target for YETI to $49, implying 27.94% upside from the stock's $38.30 trading price.
• YETI cut its full-year adjusted sales growth forecast to about 6% from 7% to 8%, citing consumer caution.
• Despite the lowered outlook, Q3 saw adjusted sales rise 6%, adjusted operating income increase 35% to $90 million, and adjusted EPS rise 49% to $0.91.

YETI Holdings, Inc. (NYSE: YETI) sells Drinkware products. KeyBanc lowered its price target for YETI to $49. Noah Zatzkin made the change when the stock traded at $38.30, a price that implies 27.94% upside to the target.

YETI cut its full-year adjusted sales growth forecast to about 6% from 7% to 8%, citing consumer caution, as highlighted by WSJ. It maintained its adjusted operating income margin outlook at approximately 14.9%.

The lower sales outlook follows a third quarter in which sales rose 4% and adjusted sales rose 6%, led by 8% Drinkware growth and 19% international growth, as highlighted by GlobeNewsWire. Gross margin rose 180 basis points, while adjusted gross margin rose 310 basis points.

Operating income increased 12% to $61 million, or 12% of sales. Adjusted operating income increased 35% to $90 million, or 17.4% of adjusted sales. Earnings per share rose 25% to $0.60, while adjusted earnings per share rose 49% to $0.91.

YETI traded at $38.30, down $4.49, or 10.49%, with volume of 7.47 million shares. The stock ranged from $38.15 to $40.85 during the day, compared with a 52-week range of $34.90 to $53.99. YETI repurchased approximately 0.5 million shares for $20 million.