Jefferies Financial Group Reiterates “Buy” Rating for YETI (NYSE:YETI)

YETI (NYSE:YETI)‘s stock had its “buy” rating reaffirmed by equities research analysts at Jefferies Financial Group in a report released on Monday,Benzinga reports. They presently have a $55.00 target price on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 100.77% from the company’s previous close.

Several other research analysts have also issued reports on the company. UBS Group reduced their target price on YETI from $43.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Canaccord Genuity Group lowered their target price on shares of YETI from $44.00 to $42.00 and set a “hold” rating for the company in a research note on Friday, February 14th. KeyCorp upgraded shares of YETI from an “underweight” rating to a “sector weight” rating in a research note on Thursday, April 17th. The Goldman Sachs Group lowered their price objective on shares of YETI from $41.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Finally, Morgan Stanley cut their target price on YETI from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $41.13.

YETI Price Performance

YETI opened at $27.40 on Monday. The company has a quick ratio of 1.36, a current ratio of 2.18 and a debt-to-equity ratio of 0.10. The business has a fifty day moving average of $31.24 and a 200 day moving average of $36.01. YETI has a 52-week low of $26.61 and a 52-week high of $45.25. The stock has a market cap of $2.27 billion, a P/E ratio of 13.30, a PEG ratio of 1.05 and a beta of 1.91.

YETI (NYSE:YETI) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.06). The company had revenue of $555.37 million for the quarter, compared to the consensus estimate of $554.08 million. YETI had a net margin of 9.60% and a return on equity of 28.23%. As a group, sell-side analysts anticipate that YETI will post 2.57 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Pinebridge Investments L.P. increased its stake in YETI by 42.7% during the 4th quarter. Pinebridge Investments L.P. now owns 38,074 shares of the company’s stock worth $1,466,000 after buying an additional 11,391 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of YETI by 1,172.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,807 shares of the company’s stock worth $609,000 after purchasing an additional 14,565 shares in the last quarter. JPMorgan Chase & Co. raised its stake in YETI by 16.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 436,810 shares of the company’s stock valued at $17,922,000 after purchasing an additional 62,619 shares during the last quarter. Boothbay Fund Management LLC raised its stake in YETI by 983.0% in the 4th quarter. Boothbay Fund Management LLC now owns 120,973 shares of the company’s stock valued at $4,659,000 after purchasing an additional 109,803 shares during the last quarter. Finally, Truist Financial Corp lifted its holdings in YETI by 304.2% in the 4th quarter. Truist Financial Corp now owns 28,501 shares of the company’s stock valued at $1,098,000 after purchasing an additional 21,450 shares in the last quarter.

About YETI

YETI Holdings, Inc designs, retails, and distributes products for the outdoor and recreation market under the YETI brand. It offers coolers and equipment, including hard and soft coolers, cargo, bags, outdoor living, and associated accessories, as well as backpacks, duffel bags, luggage, packing cubes, carryalls, camp chairs, blankets, dog beds, dog bowls, and gear cases under the LoadOut, Panga, Crossroads, Camino, Hondo Base, Trailhead, Lowlands, Boomer, and SideKick Dry brands.