Raymond James Financial Reiterates "Outperform" Rating for YETI (NYSE:YETI)

Key Points

• Raymond James Financial raised its price target on YETI stock from $34.00 to $37.00, indicating a potential upside of 14.09% from the previous close and maintaining an "outperform" rating.
• In contrast, Goldman Sachs downgraded YETI's target price from $41.00 to $29.00, while other firms like Stifel Nicolaus and UBS Group adjusted their targets to $33.00 and $35.00 respectively.
• YETI reported earnings of $0.31 per share for the latest quarter, surpassing expectations and showing a revenue increase of 2.8% year-over-year.

YETI (NYSE:YETI - Get Free Report)'s stock had its "outperform" rating reiterated by equities research analysts at Raymond James Financial in a report released on Friday, MarketBeat reports. They currently have a $37.00 target price on the stock, up from their previous target price of $34.00. Raymond James Financial's price objective would suggest a potential upside of 12.84% from the company's previous close.

A number of other equities analysts have also commented on the company. Cowen reiterated a "hold" rating on shares of YETI in a research note on Friday. Jefferies Financial Group reiterated a "buy" rating and issued a $55.00 price objective on shares of YETI in a research note on Monday, May 5th. Morgan Stanley lifted their price objective on YETI from $33.00 to $34.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. KeyCorp upgraded YETI from an "underweight" rating to a "sector weight" rating in a research note on Thursday, April 17th. Finally, The Goldman Sachs Group dropped their price objective on YETI from $41.00 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $38.54.

YETI Stock Up 2.9%

Shares of NYSE YETI traded up $0.93 during mid-day trading on Friday, reaching $32.79. 194,187 shares of the company traded hands, compared to its average volume of 2,176,466. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.48 and a current ratio of 2.52. The stock has a market cap of $2.66 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 2.82 and a beta of 1.84. The company's fifty day moving average is $33.23 and its two-hundred day moving average is $32.85. YETI has a fifty-two week low of $26.61 and a fifty-two week high of $45.25.

YETI (NYSE:YETI - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.12. The business had revenue of $445.89 million for the quarter, compared to analyst estimates of $461.73 million. YETI had a return on equity of 24.60% and a net margin of 9.73%. The firm's revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 EPS. On average, analysts expect that YETI will post 2.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Mystic Asset Management Inc. raised its position in YETI by 2.0% in the 1st quarter. Mystic Asset Management Inc. now owns 19,278 shares of the company's stock worth $638,000 after purchasing an additional 375 shares during the last quarter. Parallel Advisors LLC raised its position in YETI by 61.6% in the 2nd quarter. Parallel Advisors LLC now owns 984 shares of the company's stock worth $31,000 after purchasing an additional 375 shares during the last quarter. UMB Bank n.a. raised its position in YETI by 109.3% in the 2nd 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 last quarter. Hsbc Holdings PLC raised its position in YETI by 2.5% in the 1st quarter. Hsbc Holdings PLC now owns 19,429 shares of the company's stock worth $638,000 after purchasing an additional 483 shares during the last quarter. Finally, Assetmark Inc. raised its position in YETI by 7.6% in the 2nd quarter. Assetmark Inc. now owns 6,909 shares of the company's stock worth $218,000 after purchasing an additional 488 shares during the last quarter.

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.