YETI (NYSE:YETI) Given New $37.00 Price Target at Morgan Stanley

Key Points

• Analysts at Morgan Stanley have raised YETI's price target from $34.00 to $37.00, indicating a potential upside of 16.86% from the current stock price.
• YETI's stock closed at $31.66, after trading down by $1.00, with recent reports showing a year-over-year revenue decline of 3.8% and a consensus earnings estimate of $2.57 per share for the current fiscal year.
• Despite the mixed ratings from several analysts, YETI maintains an average target price of $38.54, with the majority of ratings categorized as "hold."

YETI (NYSE:YETI - Get Free Report) had its price objective upped by analysts at Morgan Stanley from $34.00 to $37.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price target would suggest a potential upside of 16.86% from the stock's current price.

A number of other analysts have also issued reports on YETI. Cowen reaffirmed a "hold" rating on shares of YETI in a report on Friday. Piper Sandler reduced their price objective on YETI from $52.00 to $38.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. The Goldman Sachs Group reduced their price objective on YETI from $41.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Stifel Nicolaus raised their price objective on YETI from $31.00 to $33.00 and gave the stock a "hold" rating in a research report on Friday. Finally, Canaccord Genuity Group raised their target price on YETI from $33.00 to $34.00 and gave the stock a "hold" rating in a research report on Friday. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, YETI has an average rating of "Hold" and an average target price of $38.54.

YETI Stock Performance

Shares of NYSE YETI traded down $1.00 during trading on Monday, reaching $31.66. The stock had a trading volume of 184,191 shares, compared to its average volume of 2,177,308. YETI has a one year low of $26.61 and a one year high of $45.25. 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 firm's 50 day moving average price is $33.20 and its two-hundred day moving average price is $32.89. The stock has a market cap of $2.57 billion, a PE ratio of 15.06, a P/E/G ratio of 2.82 and a beta of 1.84.

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

Institutional Investors Weigh In On YETI

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Wasatch Advisors LP raised its position in shares of 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 acquiring an additional 51,443 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of YETI by 3.0% during the first quarter. Wellington Management Group LLP now owns 3,668,128 shares of the company's stock worth $121,415,000 after purchasing an additional 107,643 shares during the period. Gates Capital Management Inc. acquired a new stake in shares of YETI during the fourth quarter worth $135,356,000. Westwood Holdings Group Inc. grew its stake in shares of YETI by 110.2% during the second quarter. Westwood Holdings Group Inc. now owns 2,507,921 shares of the company's stock worth $79,050,000 after purchasing an additional 1,314,878 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of YETI by 48.9% during the first quarter. American Century Companies Inc. now owns 2,150,724 shares of the company's stock worth $71,189,000 after purchasing an additional 706,601 shares during the period.

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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