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

YETI Holdings, Inc. (NYSE:YETI)’s stock 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 changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on YETI. Morgan Stanley decreased their target price on shares of YETI from $48.00 to $45.00 and set an “equal weight” rating for the company in a research note on Friday. UBS Group reduced their price objective on shares of YETI from $44.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Stifel Nicolaus reduced their price objective on shares of YETI from $45.00 to $40.00 and set a “hold” rating for the company in a research note on Friday. TD Cowen reduced their price objective on shares of YETI from $46.00 to $44.00 and set a “hold” rating for the company in a research note on Monday, November 11th. Finally, KeyCorp reduced their price objective on shares of YETI from $36.00 to $35.00 and set an “underweight” rating for the company in a research note on Wednesday, January 8th. 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $44.77.

YETI Price Performance

The company has a market cap of $3.22 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 1.06 and a beta of 2.13. The company has a fifty day moving average price of $38.78 and a two-hundred day moving average price of $39.21. The company has a current ratio of 2.58, a quick ratio of 1.45 and a debt-to-equity ratio of 0.10.

YETI (NYSE:YETI) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.06). YETI had a net margin of 11.15% and a return on equity of 28.31%. As a group, equities research analysts anticipate that YETI Holdings, Inc. will post 2.37 EPS for the current fiscal year.

Institutional Investors Weigh In On YETI

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