YETI (NYSE:YETI) Stock Price Expected to Rise, Morgan Stanley Analyst Says

YETI (NYSE:YETI) had its price target hoisted by Morgan Stanley from $34.00 to $37.00 in a report issued on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research firms have also recently weighed in on YETI. The Goldman Sachs Group reduced their price target on YETI from $41.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Raymond James Financial reiterated an “outperform” rating and issued a $37.00 target price (up from $34.00) on shares of YETI in a report on Friday. Canaccord Genuity Group upped their target price on YETI from $33.00 to $34.00 and gave the company a “hold” rating in a report on Friday. Citigroup upped their target price on YETI from $36.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $55.00 target price on shares of YETI in a report on Monday, May 5th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $38.54.

YETI Stock Performance

NYSE:YETI opened at $31.88 on Monday. The stock has a market cap of $2.59 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 2.82 and a beta of 1.84. The company has a current ratio of 2.52, a quick ratio of 1.48 and a debt-to-equity ratio of 0.09. The stock’s 50-day moving average is $33.23 and its 200-day moving average is $32.85. YETI has a 1-year low of $26.61 and a 1-year high of $45.25.

YETI (NYSE:YETI) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.12. The company had revenue of $445.89 million for the quarter, compared to analysts’ expectations of $461.73 million. YETI had a return on equity of 24.60% and a net margin of 9.73%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.70 earnings per share. Equities research analysts anticipate that YETI will post 2.57 earnings per share for the current year.

Hedge Funds Weigh In On YETI

Institutional investors and hedge funds have recently modified their holdings of the business. Costello Asset Management INC acquired a new position in shares of YETI during the first quarter worth approximately $25,000. UMB Bank n.a. raised its position in shares of YETI by 109.3% during the second quarter. UMB Bank n.a. now owns 896 shares of the company’s stock worth $28,000 after purchasing an additional 468 shares during the period. IFP Advisors Inc raised its position in shares of YETI by 4,552.6% during the second quarter. IFP Advisors Inc now owns 884 shares of the company’s stock worth $30,000 after purchasing an additional 865 shares during the period. Parallel Advisors LLC raised its position in shares of YETI by 61.6% during the second quarter. Parallel Advisors LLC now owns 984 shares of the company’s stock worth $31,000 after purchasing an additional 375 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of YETI during the first quarter worth approximately $34,000.

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.