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

Shares of YETI Holdings, Inc. (NYSE:YETI) gapped up prior to trading 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.

A number of other brokerages have also issued reports on YETI. UBS Group lowered their price target on YETI from $43.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. The Goldman Sachs Group dropped their target price 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. Jefferies Financial Group reissued a “buy” rating and issued a $55.00 target price on shares of YETI in a research note on Monday, May 5th. 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 report on Friday, April 11th. Finally, Stifel Nicolaus lowered their price objective on YETI from $40.00 to $34.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $39.40.

Institutional Trading of YETI

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wasatch Advisors LP boosted its stake in YETI by 0.9% during the fourth quarter. Wasatch Advisors LP now owns 5,529,046 shares of the company’s stock worth $212,924,000 after buying an additional 51,443 shares during the period. Wellington Management Group LLP boosted its position in shares of YETI by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 3,560,485 shares of the company’s stock worth $137,114,000 after purchasing an additional 489,063 shares during the period. Gates Capital Management Inc. acquired a new stake in YETI in the 4th quarter valued at approximately $135,356,000. Dimensional Fund Advisors LP raised its position in YETI by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,501,170 shares of the company’s stock valued at $57,812,000 after purchasing an additional 22,123 shares during the period. Finally, Congress Asset Management Co. raised its position in YETI by 7.7% in the first quarter. Congress Asset Management Co. now owns 1,217,966 shares of the company’s stock valued at $40,315,000 after purchasing an additional 86,906 shares during the period.

YETI Stock Up 12.0%

The business has a 50 day simple moving average of $30.85 and a 200 day simple moving average of $35.84. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 1.05 and a beta of 1.91. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.18 and a quick ratio of 1.36.

YETI (NYSE:YETI) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.04. The business 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 business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 earnings per share. As a group, equities analysts predict that YETI Holdings, Inc. will post 2.57 earnings per share for the current fiscal 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.