Citigroup Raises YETI (NYSE:YETI) Price Target to $44.00

YETI (NYSE:YETI - Get Free Report) had its price target boosted by analysts at Citigroup from $36.00 to $44.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's target price would suggest a potential upside of 13.25% from the company's current price.

Several other brokerages also recently issued reports on YETI. UBS Group lifted their price objective on YETI from $31.00 to $35.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Morgan Stanley boosted their target price on shares of YETI from $33.00 to $34.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. 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 research note on Tuesday, April 22nd. Robert W. Baird dropped 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. Finally, Piper Sandler dropped their price objective 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. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $39.47.

YETI Price Performance

Shares of NYSE YETI traded up $2.05 during midday trading on Wednesday, reaching $38.85. 2,550,178 shares of the company traded hands, compared to its average volume of 2,137,282. The firm has a market cap of $3.22 billion, a PE ratio of 18.68, a PEG ratio of 3.42 and a beta of 1.85. The stock's 50-day simple moving average is $31.87 and its 200-day simple moving average is $33.03. YETI has a 12 month low of $26.61 and a 12 month high of $45.25. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.47 and a current ratio of 2.58.

YETI (NYSE:YETI - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04. YETI had a net margin of 9.59% and a return on equity of 26.48%. The firm had revenue of $351.13 million during the quarter, compared to the consensus estimate of $347.72 million. During the same period last year, the firm posted $0.34 EPS. The firm's quarterly revenue was up 2.8% on a year-over-year basis. As a group, equities analysts anticipate that YETI will post 2.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On YETI

Large investors have recently bought and sold shares of the company. Costello Asset Management INC bought a new stake in shares of YETI during the first quarter worth $25,000. IFP Advisors Inc lifted its holdings in shares of YETI by 4,552.6% in the second quarter. IFP Advisors Inc now owns 884 shares of the company's stock valued at $30,000 after purchasing an additional 865 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of YETI by 109.3% in the second quarter. UMB Bank n.a. now owns 896 shares of the company's stock valued at $28,000 after purchasing an additional 468 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of YETI by 61.6% in the second quarter. Parallel Advisors LLC now owns 984 shares of the company's stock valued at $31,000 after purchasing an additional 375 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of YETI during the first quarter worth about $34,000.

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.