Stifel Nicolaus Forecasts Strong Price Appreciation for YETI (NYSE:YETI) Stock

Key Points

• Stifel Nicolaus has raised its price target for YETI from $31.00 to $33.00, maintaining a "hold" rating despite indicating a potential downside of 0.27% from the current stock price.
• YETI's recent earnings report showed a beat on estimates, with earnings per share at $0.31, and revenue of $351.13 million, reflecting a 2.8% year-over-year increase.
• Institutional investment activity includes significant purchases, with some firms like IFP Advisors and UMB Bank increasing their stakes dramatically, highlighting investor interest in YETI's stock.

YETI (NYSE:YETI - Get Free Report) had its price target increased by equities researchers at Stifel Nicolaus from $31.00 to $33.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "hold" rating on the stock. Stifel Nicolaus' price target would suggest a potential downside of 0.27% from the stock's current price.

YETI has been the topic of several other research reports. Cowen reaffirmed a "hold" rating on shares of YETI in a report on Friday. Piper Sandler decreased their price objective on shares of YETI from $52.00 to $38.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Jefferies Financial Group reaffirmed a "buy" rating and set a $55.00 target price on shares of YETI in a research note on Monday, May 5th. Raymond James Financial lowered their target price on shares of YETI from $50.00 to $34.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Finally, The Goldman Sachs Group reduced their price target on shares of YETI from $41.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $39.40.

YETI Trading Up 1.3%

YETI stock traded up $0.43 during trading on Friday, hitting $33.09. The company had a trading volume of 974,953 shares, compared to its average volume of 2,177,279. The stock has a market cap of $2.74 billion, a PE ratio of 15.94, a PEG ratio of 3.14 and a beta of 1.84. YETI has a one year low of $26.61 and a one year high of $45.25. The company has a current ratio of 2.58, a quick ratio of 1.47 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average of $33.16 and a 200-day moving average of $32.99.

YETI (NYSE:YETI - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.31 earnings per share 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 in the previous year, the firm posted $0.34 earnings per share. The business's revenue was up 2.8% compared to the same quarter last year. Research analysts predict that YETI will post 2.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On YETI

Institutional investors and hedge funds have recently made changes to their positions in the stock. Costello Asset Management INC purchased a new stake in shares of YETI in the first quarter worth about $25,000. IFP Advisors Inc grew its stake in shares of YETI by 4,552.6% during the 2nd quarter. IFP Advisors Inc now owns 884 shares of the company's stock worth $30,000 after purchasing an additional 865 shares during the period. UMB Bank n.a. increased its holdings in shares of YETI by 109.3% during the 2nd 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 boosted its holdings in YETI by 61.6% during the second quarter. Parallel Advisors LLC now owns 984 shares of the company's stock worth $31,000 after buying an additional 375 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of YETI during the 1st 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.

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