YETI (NYSE:YETI) Posts Earnings Results, Misses Estimates By $0.01 EPS

YETI (NYSE:YETI – Get Rating) released its quarterly earnings data on Thursday. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01), Briefing.com reports. YETI had a net margin of 14.26% and a return on equity of 47.22%. The business had revenue of $420.04 million during the quarter, compared to analysts’ expectations of $422.92 million. During the same quarter in the previous year, the company posted $0.64 EPS. The company’s revenue was up 17.4% compared to the same quarter last year. YETI updated its FY 2022 guidance to $2.34-$2.46 EPS.

YETI Price Performance

YETI stock traded up $0.78 during midday trading on Friday, hitting $44.94. 2,040,511 shares of the stock were exchanged, compared to its average volume of 1,415,368. The stock’s 50-day moving average price is $46.26 and its 200-day moving average price is $53.58. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.23 and a beta of 2.42. YETI has a fifty-two week low of $38.77 and a fifty-two week high of $108.82. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.64 and a current ratio of 1.82.

Hedge Funds Weigh In On YETI

Hedge funds have recently bought and sold shares of the stock. Global Wealth Management Investment Advisory Inc. increased its position in YETI by 67.0% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 748 shares of the company’s stock worth $45,000 after buying an additional 300 shares in the last quarter. Covestor Ltd increased its position in YETI by 128.9% during the first quarter. Covestor Ltd now owns 1,751 shares of the company’s stock worth $105,000 after buying an additional 986 shares in the last quarter. Beacon Pointe Advisors LLC increased its position in YETI by 7.2% during the first quarter. Beacon Pointe Advisors LLC now owns 4,189 shares of the company’s stock worth $251,000 after buying an additional 280 shares in the last quarter. Cetera Investment Advisers increased its position in YETI by 11.5% during the first quarter. Cetera Investment Advisers now owns 6,303 shares of the company’s stock worth $378,000 after buying an additional 651 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in YETI by 25.6% during the first quarter. Advisors Asset Management Inc. now owns 7,303 shares of the company’s stock worth $438,000 after buying an additional 1,490 shares in the last quarter. Hedge funds and other institutional investors own 96.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on YETI shares. The Goldman Sachs Group dropped their price target on YETI from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, July 21st. Piper Sandler dropped their price target on YETI from $89.00 to $76.00 and set an “overweight” rating on the stock in a research note on Friday. KeyCorp downgraded YETI to a “sector weight” rating in a research note on Tuesday, July 19th. Roth Capital dropped their price target on YETI from $80.00 to $48.00 in a research note on Thursday, May 12th. Finally, Raymond James decreased their price objective on YETI from $73.00 to $54.00 in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $66.76.

About YETI

(Get Rating)

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.