YETI (NYSE:YETI) Shares Up 5.7% - Time to Buy?

Key Points

• YETI's stock price increased by 5.7% on Friday, reaching a high of $38.90 after closing at $36.80.
• Recent analyst reports show a mixed outlook, with price targets ranging from $31.00 to $50.00, and a consensus rating of "Hold" with an average target of $39.47.
• The company reported $0.31 earnings per share in its latest quarterly earnings, exceeding estimates and showing a 2.8% revenue increase year-over-year.
• Institutional interest is rising, as several hedge funds, including Gates Capital Management, have significantly increased their stakes in YETI.

YETI Holdings, Inc. (NYSE:YETI - Get Free Report)'s share price traded up 5.7% during trading on Friday . The stock traded as high as $38.43 and last traded at $38.90. 550,126 shares were traded during mid-day trading, a decline of 74% from the average session volume of 2,121,499 shares. The stock had previously closed at $36.80.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. The Goldman Sachs Group lowered their price objective on YETI from $41.00 to $29.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Citigroup upped their price objective on YETI from $36.00 to $44.00 and gave the stock a "buy" rating in a research report on Wednesday. UBS Group upped their price objective on YETI from $31.00 to $35.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Morgan Stanley boosted their price objective on YETI from $33.00 to $34.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Finally, Raymond James Financial cut their price objective on YETI from $50.00 to $34.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $39.47.

YETI Stock Performance

The firm has a market cap of $3.22 billion, a PE ratio of 18.68, a P/E/G ratio of 3.35 and a beta of 1.85. The firm has a 50-day moving average price of $32.01 and a two-hundred day moving average price of $33.01. The company has a quick ratio of 1.47, a current ratio of 2.58 and a debt-to-equity ratio of 0.09.

YETI (NYSE:YETI - Get Free Report) last released its 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. The business had revenue of $351.13 million for the quarter, compared to the consensus estimate of $347.72 million. YETI had a return on equity of 26.48% and a net margin of 9.59%. The business's quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 earnings per share. Research analysts forecast that YETI Holdings, Inc. will post 2.57 EPS for the current fiscal year.

Hedge Funds Weigh In On YETI

Hedge funds and other institutional investors have recently made changes to their positions in the company. Costello Asset Management INC purchased a new stake in shares of YETI in the first quarter valued at approximately $25,000. UMB Bank n.a. lifted its holdings in 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 acquiring an additional 468 shares during the last quarter. IFP Advisors Inc raised its position in 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 during the period. Parallel Advisors LLC raised its position in 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 during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in YETI in the first quarter valued at $34,000.

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.