YETI Stock Recent News

Yeti Holdings Inc  (NYSE:YETI ) is 1.4% lower at $46.48 this morning, after Canaccord Genuity downgraded the stock to "hold" from "buy.

Yeti Holdings Inc (NYSE:YETI) stock has gone on a run up the charts, up 24% in December alone.

I reiterate my buy rating. The company reported total adjusted sales of $433.6 million, with beverage sales growing 6% year-over-year and adjusted coolers & equipment sales declining 8%. I expect to see growth acceleration in FY24 through new product launches, increased direct-to-consumer growth, and retailers restocking inventory.

Yeti's product innovation has continued this year with successful products such as the Yonder bottles. Yeti entered into a new partnership with Tractor Supply this quarter which can create new customers and buying opportunities. The company's international growth is showing positive momentum, with increased sales and new distribution centers.

Based on news reports, the Western world may have taken more interest in fitness and health during the pandemic. Because it was theorized that excess weight affected survival chances, many individuals began to take their overall health more seriously.

YETI stock may be undervalued by 30% based on its earnings outlook. With recall woes in the past, market sentiment is improving for YETI which may attract once side-lined investors. If YETI were to re-up its share repurchase program for the long-term, it could bolster EPS and drive further share price appreciation.

Yeti uses its brand ambassadors to create community among its core customers driving deeper loyalty of its outdoor enthusiasts.

Start Time: 08:00 January 1, 0000 9:02 AM ET YETI Holdings, Inc. (NYSE:YETI ) Q3 2023 Earnings Conference Call November 09, 2023, 08:00 AM ET Company Participants Matt Reintjes - President and CEO Mike McMullen - SVP, CFO and Treasurer Tom Shaw - VP, IR Conference Call Participants Peter Keith - Piper Sandler Peter Benedict - Baird Megan Alexander - Morgan Stanley Sharon Zackfia - William Blair Jim Duffy - Stifel Robby Ohmes - Bank of America Brooke Roach - Goldman Sachs Anna Glaessgen - B. Riley Operator Good morning, and welcome to the YETI Holdings' Third Quarter 2023 Earnings Conference Call.

While the top- and bottom-line numbers for Yeti (YETI) give a sense of how the business performed in the quarter ended September 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Yeti (YETI) came out with quarterly earnings of $0.60 per share, beating the Zacks Consensus Estimate of $0.54 per share. This compares to earnings of $0.63 per share a year ago.