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

YETI (NYSE:YETI) had its target price lowered by research analysts at Morgan Stanley from $48.00 to $45.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 18.37% from the stock’s current price.

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

YETI Price Performance

Shares of YETI stock opened at $38.02 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.58 and a quick ratio of 1.45. The company has a market cap of $3.22 billion, a P/E ratio of 16.32, a PEG ratio of 1.06 and a beta of 2.13. The stock’s 50-day moving average is $38.78 and its 200 day moving average is $39.20. YETI has a 1-year low of $33.41 and a 1-year high of $45.25.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of YETI. Allworth Financial LP raised 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 in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of YETI in the third quarter valued at approximately $26,000. Blue Trust Inc. increased its position in shares of YETI by 265.8% in the third quarter. Blue Trust Inc. now owns 867 shares of the company’s stock valued at $33,000 after buying an additional 630 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of YETI in the third quarter valued at approximately $38,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of YETI in the fourth quarter valued at 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.