Morgan Stanley Raises YETI (NYSE:YETI) Price Target to $34.00

YETI (NYSE:YETI) had its price objective boosted by Morgan Stanley from $33.00 to $34.00 in a research note released on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

YETI has been the subject of several other reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $55.00 target price on shares of YETI in a research report on Monday, May 5th. KeyCorp upgraded YETI from an “underweight” rating to a “sector weight” rating in a research note on Thursday, April 17th. The Goldman Sachs Group cut their price target on YETI from $41.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Robert W. Baird cut their price target on YETI from $50.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Finally, UBS Group cut their price target on YETI from $43.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, YETI has a consensus rating of “Hold” and an average target price of $39.40.

YETI Trading Down 5.0%

NYSE YETI opened at $28.14 on Friday. The firm has a market capitalization of $2.33 billion, a P/E ratio of 13.66, a PEG ratio of 1.05 and a beta of 1.91. The business has a fifty day simple moving average of $30.85 and a 200 day simple moving average of $35.84. YETI has a 12 month low of $26.61 and a 12 month high of $45.25. The company has a current ratio of 2.18, a quick ratio of 1.36 and a debt-to-equity ratio of 0.10.

YETI (NYSE:YETI) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. YETI had a return on equity of 28.23% and a net margin of 9.60%. The business had revenue of $351.13 million during the quarter, compared to analyst estimates of $347.72 million. During the same period in the prior year, the firm posted $0.34 EPS. YETI’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, analysts predict that YETI will post 2.57 EPS for the current fiscal year.

Institutional Trading of YETI

Hedge funds have recently bought and sold shares of the company. Allworth Financial LP lifted its position in YETI by 237.1% in the 4th quarter. Allworth Financial LP now owns 664 shares of the company’s stock worth $25,000 after buying an additional 467 shares during the last quarter. Costello Asset Management INC bought a new stake in YETI in the 1st quarter worth approximately $25,000. Wilmington Savings Fund Society FSB bought a new stake in YETI in the 3rd quarter worth approximately $38,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in YETI in the 1st quarter worth approximately $34,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in YETI in the 4th quarter worth approximately $44,000.

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.