YETI (NYSE:YETI) Stock Price Up 8.2% – Here’s Why

YETI Holdings, Inc. (NYSE:YETI) shot up 8.2% during mid-day trading on Monday . The company traded as high as $34.61 and last traded at $34.79. 1,332,010 shares were traded during trading, a decline of 15% from the average session volume of 1,566,850 shares. The stock had previously closed at $32.17.

Analyst Ratings Changes

Several brokerages have issued reports on YETI. UBS Group lowered their target price on YETI from $44.00 to $43.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Canaccord Genuity Group reduced their price target on shares of YETI from $44.00 to $42.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Stifel Nicolaus lowered their price objective on YETI from $45.00 to $40.00 and set a “hold” rating for the company in a research report on Friday, February 14th. Morgan Stanley cut their target price on shares of YETI from $48.00 to $45.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Finally, KeyCorp lowered their price target on shares of YETI from $36.00 to $35.00 and set an “underweight” rating for the company in a report on Wednesday, January 8th. One 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.com, the company presently has an average rating of “Hold” and an average price target of $44.77.

YETI Price Performance

The company has a current ratio of 2.18, a quick ratio of 1.36 and a debt-to-equity ratio of 0.10. The stock has a market cap of $2.81 billion, a PE ratio of 16.63, a P/E/G ratio of 1.05 and a beta of 2.15. The business has a fifty day simple moving average of $36.72 and a two-hundred day simple moving average of $38.52.

YETI (NYSE:YETI) last announced 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 firm had revenue of $555.37 million for the quarter, compared to analysts’ expectations of $554.08 million. YETI had a net margin of 9.60% and a return on equity of 28.23%. Research analysts forecast that YETI Holdings, Inc. will post 2.57 earnings per share for the current year.

Hedge Funds Weigh In On YETI

Several large investors have recently modified their holdings of YETI. Gates Capital Management Inc. purchased a new position in YETI in the 4th quarter worth approximately $135,356,000. Brown Advisory Inc. bought a new position in shares of YETI during the fourth quarter valued at $40,496,000. Westwood Holdings Group Inc. purchased a new stake in shares of YETI during the fourth quarter valued at $37,098,000. Norges Bank purchased a new stake in shares of YETI during the fourth quarter valued at $36,778,000. Finally, Nomura Holdings Inc. increased its holdings in YETI by 595.8% in the 4th quarter. Nomura Holdings Inc. now owns 595,154 shares of the company’s stock worth $22,919,000 after buying an additional 509,616 shares in the last quarter.

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.