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

YETI Holdings, Inc. (NYSE:YETI) 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 changing hands.

YETI has been the subject of a number of other research reports. Canaccord Genuity Group lowered their price objective on shares of YETI from $44.00 to $42.00 and set a “hold” rating for the company in a research report on Friday, February 14th. Stifel Nicolaus lowered their price objective 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. Robert W. Baird lowered their price objective 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. Jefferies Financial Group restated a “buy” rating and issued a $55.00 price objective on shares of YETI in a research report on Monday, May 5th. Finally, KeyCorp upgraded shares of YETI from an “underweight” rating to a “sector weight” rating in a research report on Thursday, April 17th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $39.40.

Institutional Trading of YETI

Large investors have recently bought and sold shares of the company. Allworth Financial LP grew its position in shares of YETI by 237.1% in the fourth quarter. Allworth Financial LP now owns 664 shares of the company’s stock valued at $25,000 after purchasing an additional 467 shares in the last quarter. Costello Asset Management INC bought a new stake in YETI during the first quarter valued at $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in YETI during the first quarter valued at $34,000. Aster Capital Management DIFC Ltd bought a new stake in YETI during the fourth quarter worth about $44,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in YETI during the fourth quarter worth about $45,000.

YETI Stock Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 2.18 and a quick ratio of 1.36. The company has a 50 day simple moving average of $30.80 and a 200-day simple moving average of $35.81. The stock has a market cap of $2.63 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 1.05 and a beta of 1.91.

YETI (NYSE:YETI) last released its earnings results on Thursday, May 8th. The company reported $0.31 earnings per share 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 company had revenue of $351.13 million during the quarter, compared to analyst estimates of $347.72 million. During the same quarter in the previous year, the company posted $0.34 EPS. YETI’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities analysts expect 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.