YETI (NYSE:YETI) Updates FY 2022 Earnings Guidance

YETI (NYSE:YETIGet Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.86-$2.91 for the period, compared to the consensus earnings per share estimate of $2.85. The company issued revenue guidance of $1.67 billion-$1.69 billion, compared to the consensus revenue estimate of $1.68 billion.

Several research firms have commented on YETI. Roth Capital dropped their target price on YETI from $80.00 to $48.00 in a research report on Thursday, May 12th. Berenberg Bank upgraded YETI from a hold rating to a buy rating and lowered their price objective for the stock from $103.00 to $92.00 in a research report on Thursday, April 7th. Citigroup lowered their price objective on YETI from $83.00 to $65.00 in a research report on Thursday, May 12th. Zacks Investment Research downgraded YETI from a buy rating to a hold rating in a research report on Friday, May 20th. Finally, Cowen lowered their price objective on YETI from $89.00 to $71.00 in a research report on Thursday, May 12th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Buy and a consensus target price of $86.42.

Shares of NYSE:YETI opened at $40.50 on Wednesday. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 1.03 and a beta of 2.57. The company has a quick ratio of 0.64, a current ratio of 1.82 and a debt-to-equity ratio of 0.20. YETI has a 12-month low of $39.83 and a 12-month high of $108.82. The business’s 50 day moving average is $53.34 and its 200 day moving average is $68.54.

YETI (NYSE:YETIGet Rating) last issued its earnings results on Wednesday, May 11th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.06. YETI had a return on equity of 47.22% and a net margin of 14.26%. During the same period last year, the firm earned $0.35 EPS. As a group, equities research analysts expect that YETI will post 2.7 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the stock. Morgan Stanley grew its position in YETI by 17.5% during the second quarter. Morgan Stanley now owns 888,163 shares of the company’s stock worth $81,551,000 after buying an additional 132,276 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of YETI by 9.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,555 shares of the company’s stock worth $294,000 after purchasing an additional 310 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of YETI by 3.2% in the 4th quarter. Legal & General Group Plc now owns 144,474 shares of the company’s stock worth $11,966,000 after purchasing an additional 4,532 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of YETI in the 4th quarter worth about $566,000. Finally, Stifel Financial Corp boosted its holdings in shares of YETI by 2.4% in the 4th quarter. Stifel Financial Corp now owns 47,600 shares of the company’s stock worth $3,942,000 after purchasing an additional 1,112 shares in the last quarter. Institutional investors own 96.33% of the company’s stock.

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.

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