YETI (NYSE:YETI) Shares Gap Up – Still a Buy?

YETI Holdings, Inc. (NYSE:YETI)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $37.91, but opened at $39.87. YETI shares last traded at $37.49, with a volume of 1,218,209 shares.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Bank of America lowered YETI from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $55.00 to $40.00 in a research note on Wednesday, November 6th. Piper Sandler reiterated 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. UBS Group lowered their price target on YETI from $44.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Morgan Stanley lowered their price target on YETI from $48.00 to $45.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Canaccord Genuity Group lowered their target price on YETI from $44.00 to $42.00 and set a “hold” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.77.

YETI Stock Up 1.2 %

The stock’s fifty day simple moving average is $38.78 and its 200-day simple moving average is $39.21. The stock 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 company has a debt-to-equity ratio of 0.10, a current ratio of 2.58 and a quick ratio of 1.45.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in YETI by 16.7% in the third quarter. JPMorgan Chase & Co. now owns 436,810 shares of the company’s stock worth $17,922,000 after buying an additional 62,619 shares during the last quarter. Algert Global LLC boosted its stake in YETI by 443.0% in the 3rd quarter. Algert Global LLC now owns 47,550 shares of the company’s stock worth $1,951,000 after purchasing an additional 38,793 shares during the period. International Assets Investment Management LLC boosted its stake in YETI by 26,657.7% in the 3rd quarter. International Assets Investment Management LLC now owns 43,615 shares of the company’s stock worth $1,790,000 after purchasing an additional 43,452 shares during the period. Qsemble Capital Management LP boosted its stake in YETI by 320.3% in the 3rd quarter. Qsemble Capital Management LP now owns 26,576 shares of the company’s stock worth $1,090,000 after purchasing an additional 20,253 shares during the period. Finally, Intech Investment Management LLC acquired a new position in YETI in the 3rd quarter worth approximately $1,415,000.

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.