Yeti (NYSE:YETI) Announces Quarterly Earnings Results

Yeti (NYSE:YETI) announced its earnings results on Thursday. The company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.06, Briefing.com reports. The company had revenue of $231.70 million during the quarter, compared to the consensus estimate of $226.22 million. Yeti had a net margin of 8.08% and a return on equity of 837.52%. Yeti’s revenue for the quarter was up 12.3% on a year-over-year basis. Yeti updated its FY 2019 guidance to $1.07-1.09 EPS and its FY19 guidance to $1.07-$1.09 EPS.

NYSE:YETI opened at $30.36 on Friday. Yeti has a 12 month low of $12.40 and a 12 month high of $38.11. The business’s fifty day moving average is $31.25. The company has a quick ratio of 0.59, a current ratio of 1.54 and a debt-to-equity ratio of 7.72. The firm has a market capitalization of $2.73 billion and a P/E ratio of 35.54.

In other news, SVP Bryan C. Barksdale sold 9,650 shares of Yeti stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $28.50, for a total transaction of $275,025.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roy J. Seiders sold 1,319,302 shares of Yeti stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $28.50, for a total transaction of $37,600,107.00. The disclosure for this sale can be found here. Insiders have sold 2,549,150 shares of company stock valued at $72,650,775 over the last quarter. Insiders own 10.70% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. FMR LLC purchased a new position in shares of Yeti during the fourth quarter worth $53,452,000. BlackRock Inc. purchased a new position in shares of Yeti during the fourth quarter worth $15,494,000. Norges Bank purchased a new position in shares of Yeti during the fourth quarter worth $10,483,000. Federated Investors Inc. PA raised its holdings in shares of Yeti by 39.8% during the first quarter. Federated Investors Inc. PA now owns 698,902 shares of the company’s stock worth $21,142,000 after purchasing an additional 198,902 shares during the last quarter. Finally, Emerald Advisers LLC raised its holdings in shares of Yeti by 47.1% during the second quarter. Emerald Advisers LLC now owns 584,845 shares of the company’s stock worth $16,931,000 after purchasing an additional 187,222 shares during the last quarter. 26.45% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have weighed in on YETI. Cowen began coverage on shares of Yeti in a research note on Thursday, April 11th. They issued an “outperform” rating and a $35.00 target price for the company. Goldman Sachs Group downgraded shares of Yeti from a “buy” rating to a “neutral” rating and raised their target price for the company from $31.00 to $33.00 in a research note on Friday, May 3rd. Raymond James raised their target price on shares of Yeti from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Zacks Investment Research downgraded shares of Yeti from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 5th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Yeti presently has an average rating of “Buy” and a consensus price target of $29.16.

About Yeti

YETI Holdings, Inc designs, markets, retails, and distributes products for the outdoor and recreation market under the YETI brand in the United States, Canada, Australia, and Japan. The company offers hard and soft coolers, as well as storage, transport, outdoor living, and associated accessories. It also provides drinkware products, including colsters, lowballs, stackable pints, mugs, tumblers, bottles, and jugs, as well as accessories comprising bottle straw caps, tumbler handles, and jug mounts under the Rambler brand.

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