YETI (NYSE:YETI) Shares Gap Up on Analyst Upgrade

YETI Holdings, Inc. (NYSE:YETI)’s stock price gapped up before the market opened on Monday after Morgan Stanley raised their price target on the stock from $33.00 to $34.00. The stock had previously closed at $28.16, but opened at $31.94. Morgan Stanley currently has an equal weight rating on the stock. YETI shares last traded at $32.26, with a volume of 932,303 shares.

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird reduced their target price on shares of YETI from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Stifel Nicolaus reduced their target price on shares of YETI from $40.00 to $34.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 target price on shares of YETI in a research report on Monday, May 5th. Piper Sandler reduced their target price on shares of YETI from $52.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Finally, The Goldman Sachs Group dropped their price objective on shares of YETI from $41.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $39.40.

Institutional Trading of YETI

Several hedge funds have recently made changes to their positions in YETI. Gates Capital Management Inc. acquired a new stake in shares of YETI during the fourth quarter worth about $135,356,000. Reinhart Partners LLC. acquired a new stake in shares of YETI during the first quarter worth about $35,177,000. Brown Advisory Inc. acquired a new stake in shares of YETI during the fourth quarter worth about $40,496,000. Westwood Holdings Group Inc. acquired a new stake in shares of YETI during the fourth quarter worth about $37,098,000. Finally, Norges Bank acquired a new stake in shares of YETI during the fourth quarter worth about $36,778,000.

YETI Price Performance

The company’s 50-day moving average price is $30.73 and its 200-day moving average price is $35.78. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.05 and a beta of 1.91. The company has a quick ratio of 1.36, a current ratio of 2.18 and a debt-to-equity ratio of 0.10.

YETI (NYSE:YETI) last issued its earnings results on Thursday, May 8th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.04. The firm had revenue of $351.13 million for the quarter, compared to analysts’ expectations of $347.72 million. YETI had a net margin of 9.60% and a return on equity of 28.23%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 earnings per share. On average, equities research analysts forecast that YETI Holdings, Inc. will post 2.57 EPS for the current year.

YETI Company Profile

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.