Shares of Yeti Holdings (YETI) - Get YETI Holdings Inc. Report slumped on Friday after shares of the recently public drinks-holder and cooler-maker received a downgrade from analysts at Morgan Stanley.
Shares in the Austin-based company slid more than 7% Friday after Morgan Stanley analyst Kim Greenberger in a note to clients said she was lowering her rating on the company's stock to equal weight from overweight.
Yeti shares were down 7.1% to $29.63.
To be sure, TheStreet's Jim Cramer holds a different view on Yeti, noting during his Mad Money lightning round earlier this week that he remains a huge fan of the company's products.
Meantime, Tim Collins with TangleTrade Management LLC in a report for TheStreet's Real Money Pro earlier this month also singled out Yeti's potential, noting the company is "hitting on all cylinders and proving those who believed this offering to be a PE dumping onto the public to cash out type of company wrong."
"What was once a brand targeted to mainly outdoors folks (hunting and fishing) has evolved into a social and status brand as well," he wrote.
For 2019, the company said it expects adjusted earnings of between 99 cents and $1.04 a share. The latest consensus estimate of analysts surveyed by FactSet is for full-year adjusted earnings of $1.02 a share.
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