YETI (NYSE:YETI) Posts Earnings Results

YETI (NYSE:YETIGet Rating) announced its earnings results on Thursday. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01), Briefing.com reports. The business had revenue of $420.04 million during the quarter, compared to analyst estimates of $422.92 million. YETI had a net margin of 14.26% and a return on equity of 47.22%. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 earnings per share. YETI updated its FY 2022 guidance to $2.34-$2.46 EPS.

YETI Stock Performance

Shares of YETI stock opened at $44.94 on Friday. The company has a current ratio of 1.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $46.24 and a two-hundred day moving average price of $53.42. YETI has a 1-year low of $38.77 and a 1-year high of $108.82. The company has a market cap of $3.87 billion, a P/E ratio of 19.21, a PEG ratio of 1.23 and a beta of 2.42.

Institutional Trading of YETI

Several large investors have recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of YETI by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,120 shares of the company’s stock worth $1,927,000 after purchasing an additional 3,063 shares during the period. Virtu Financial LLC purchased a new position in YETI in the first quarter worth $1,487,000. Eaton Vance Management grew its position in YETI by 5,223.8% in the first quarter. Eaton Vance Management now owns 18,101 shares of the company’s stock worth $1,085,000 after acquiring an additional 17,761 shares in the last quarter. Advisory Services Network LLC lifted its stake in YETI by 7.1% in the first quarter. Advisory Services Network LLC now owns 11,833 shares of the company’s stock worth $710,000 after purchasing an additional 787 shares during the last quarter. Finally, Mariner LLC bought a new stake in YETI in the first quarter worth $646,000. 96.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Cowen lowered their price objective on YETI to $59.00 in a research note on Monday, July 25th. Raymond James reduced their target price on YETI from $73.00 to $54.00 in a report on Friday. Credit Suisse Group reduced their target price on YETI from $80.00 to $70.00 and set an “outperform” rating for the company in a report on Monday, August 1st. Cowen reduced their price objective on YETI from $89.00 to $71.00 in a research note on Thursday, May 12th. Finally, Roth Capital cut their price target on YETI from $80.00 to $48.00 in a research note on Thursday, May 12th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.76.

YETI Company Profile

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YETI Holdings, Inc designs, markets, retails, and distributes products for the outdoor and recreation market under the YETI brand. The company offers hard and soft coolers, as well as cargo, bags, outdoor living, and associated accessories. It also provides drinkware products, such as colsters, lowballs, wine tumblers, stackable pints, mugs, tumblers, bottles, and jugs, as well as accessories comprising bottle straw caps, tumbler handles, jug mounts, and bottle slings under the Rambler brand.

Further Reading

Earnings History for YETI (NYSE:YETI)

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