Yeti (YETI) Gains As Market Dips: What You Should Know
Yeti (YETI) closed the most recent trading day at $26.09, moving +0.81% from the previous trading session. This change outpaced the S&P 500's 0.2% loss on the day. Elsewhere, the Dow lost 0.17%, while the tech-heavy Nasdaq lost 0.38%.
Prior to today's trading, shares of the maker of outdoor and recreational products had lost 9.48% over the past month. This has lagged the Consumer Discretionary sector's loss of 1.55% and the S&P 500's gain of 0.33% in that time.
YETI will be looking to display strength as it nears its next earnings release.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.07 per share and revenue of $879.60 million, which would represent changes of +17.58% and +12.94%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for YETI. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. YETI currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, YETI currently has a Forward P/E ratio of 24.24. This represents a premium compared to its industry's average Forward P/E of 15.79.
Meanwhile, YETI's PEG ratio is currently 1.42. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Leisure and Recreation Products stocks are, on average, holding a PEG ratio of 1 based on yesterday's closing prices.
The Leisure and Recreation Products industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 28, putting it in the top 11% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.