Morgan Stanley Issues Pessimistic Forecast for YETI (NYSE:YETI) Stock Price

YETI (NYSE:YETI) had its price objective cut by equities research analysts at Morgan Stanley from $48.00 to $45.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 18.44% from the company’s current price.

A number of other research firms also recently issued reports on YETI. UBS Group lowered their target price on shares of YETI from $44.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. TD Cowen lowered their target price on shares of YETI from $46.00 to $44.00 and set a “hold” rating for the company in a report on Monday, November 11th. KeyCorp reduced their price target 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. Piper Sandler reaffirmed an “overweight” rating and set a $54.00 price target (down from $55.00) on shares of YETI in a research report on Friday, November 8th. Finally, Bank of America cut shares of YETI from a “buy” rating to a “neutral” rating and reduced their price target for the company from $55.00 to $40.00 in a research report on Wednesday, November 6th. One equities 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $44.85.

YETI Trading Up 1.1 %

Shares of NYSE YETI traded up $0.42 during midday trading on Friday, reaching $38.00. 239,098 shares of the stock were exchanged, compared to its average volume of 1,615,723. The company has a market capitalization of $3.22 billion, a P/E ratio of 16.34, a P/E/G 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 current ratio of 2.58, a quick ratio of 1.45 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average price of $38.87 and a 200-day moving average price of $39.23.

YETI (NYSE:YETI) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.06). YETI had a return on equity of 28.31% and a net margin of 11.15%. Equities research analysts expect that YETI will post 2.37 earnings per share for the current fiscal year.

Institutional Trading of YETI

Several institutional investors have recently added to or reduced their stakes in YETI. Allworth Financial LP raised its holdings in YETI by 237.1% in 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 bought a new stake in YETI during the third quarter valued at $26,000. Blue Trust Inc. increased its stake in YETI by 265.8% during the third quarter. Blue Trust Inc. now owns 867 shares of the company’s stock valued at $33,000 after purchasing an additional 630 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in YETI during the third quarter valued at $38,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in YETI during the fourth quarter valued at $44,000.

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.