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

Shares of YETI Holdings, Inc. (NYSE:YETI - Get Free Report) 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.

Several other equities research analysts also recently weighed in on YETI. KeyCorp raised YETI from an "underweight" rating to a "sector weight" rating in a report on Thursday, April 17th. Canaccord Genuity Group cut their target price on YETI from $44.00 to $42.00 and set a "hold" rating on the stock in a research report on Friday, February 14th. Jefferies Financial Group reissued a "buy" rating and issued a $55.00 price objective on shares of YETI in a report on Monday, May 5th. Stifel Nicolaus reduced their price objective on YETI from $40.00 to $34.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Finally, Piper Sandler decreased their target price on YETI from $52.00 to $38.00 and set an "overweight" rating for the company in a 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 stock. According to data from MarketBeat.com, YETI has a consensus rating of "Hold" and a consensus target price of $39.40.

Hedge Funds Weigh In On YETI

Several large investors have recently made changes to their positions in YETI. Jones Financial Companies Lllp grew its position in YETI by 22.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,526 shares of the company's stock valued at $59,000 after buying an additional 280 shares during the period. Atria Investments Inc boosted its stake in shares of YETI by 4.2% during the 4th quarter. Atria Investments Inc now owns 8,110 shares of the company's stock worth $312,000 after acquiring an additional 328 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of YETI by 2.7% during the 4th quarter. Pacer Advisors Inc. now owns 12,646 shares of the company's stock valued at $487,000 after acquiring an additional 332 shares during the period. Blue Trust Inc. raised its holdings in YETI by 38.4% in the 4th quarter. Blue Trust Inc. now owns 1,200 shares of the company's stock worth $49,000 after purchasing an additional 333 shares during the period. Finally, Xponance Inc. raised its holdings in YETI by 2.6% in the 4th quarter. Xponance Inc. now owns 13,250 shares of the company's stock worth $510,000 after purchasing an additional 340 shares during the period.

YETI Stock Up 12.0%

The company has a market cap of $2.61 billion, a PE ratio of 15.46, a P/E/G ratio of 1.05 and a beta of 1.91. The business has a 50-day simple moving average of $30.85 and a 200-day simple moving average of $35.84. The company has a quick ratio of 1.36, a current ratio of 2.18 and a debt-to-equity ratio of 0.10.

YETI (NYSE:YETI - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.04. The firm had revenue of $351.13 million for the quarter, compared to analysts' expectations of $347.72 million. YETI had a net margin of 9.60% and a return on equity of 28.23%. The firm's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 EPS. Equities research analysts anticipate that YETI Holdings, Inc. will post 2.57 EPS for the current 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.

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