Morgan Stanley Cuts YETI (NYSE:YETI) Price Target to $45.00

YETI (NYSE:YETI) had its price objective trimmed by Morgan Stanley from $48.00 to $45.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

YETI has been the topic of a number of other reports. Canaccord Genuity Group lowered their price target on shares of YETI from $44.00 to $42.00 and set a “hold” rating on the stock in a report on Friday. Bank of America downgraded shares of YETI from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $55.00 to $40.00 in a report on Wednesday, November 6th. Piper Sandler reissued an “overweight” rating and issued a $54.00 price target (down from $55.00) on shares of YETI in a report on Friday, November 8th. KeyCorp decreased their price objective on shares of YETI from $36.00 to $35.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. Finally, UBS Group decreased their price objective on shares of YETI from $44.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $44.77.

YETI Price Performance

NYSE YETI opened at $38.02 on Friday. The company has a market cap of $3.22 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 1.06 and a beta of 2.13. YETI has a 52 week low of $33.41 and a 52 week high of $45.25. The company has a quick ratio of 1.45, a current ratio of 2.58 and a debt-to-equity ratio of 0.10. The firm’s 50-day simple moving average is $38.78 and its two-hundred day simple moving average is $39.19.

YETI (NYSE:YETI) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.06). The business had revenue of $555.37 million for the quarter, compared to analysts’ expectations of $554.08 million. YETI had a net margin of 11.15% and a return on equity of 28.31%. Research analysts predict that YETI will post 2.37 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Allworth Financial LP grew its position in YETI by 237.1% during the fourth quarter. Allworth Financial LP now owns 664 shares of the company’s stock valued at $25,000 after acquiring an additional 467 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of YETI in the third quarter worth approximately $26,000. Blue Trust Inc. grew its holdings in shares of YETI by 265.8% in the third quarter. Blue Trust Inc. now owns 867 shares of the company’s stock worth $33,000 after purchasing an additional 630 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of YETI in the third quarter worth approximately $38,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of YETI in the fourth quarter worth approximately $44,000.

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.