Strong Q1 Performance and International Growth Drive Buy Rating for Yeti Holdings

William Blair analyst Phillip Blee has maintained their bullish stance on YETI stock, giving a Buy rating on May 5.

Phillip Blee’s rating is based on Yeti Holdings’ strong first-quarter performance, which exceeded market expectations. The company reported a 2.9% increase in sales, surpassing the anticipated 1.6% growth, primarily driven by a significant rise in cooler and equipment sales. Despite a decline in drinkware sales, Yeti’s overall growth was supported by both direct-to-consumer and wholesale channels.
International sales showed remarkable strength with a 27% increase, excluding currency impacts, which helped offset the slight decline in U.S. sales. Additionally, Yeti’s gross and EBIT margins surpassed consensus estimates, indicating efficient cost management and operational effectiveness. These factors, combined with an EPS that was higher than expected, contribute to Phillip Blee’s positive outlook and Buy rating for Yeti Holdings.

According to TipRanks, Blee is a 3-star analyst with an average return of 7.7% and a 60.71% success rate. Blee covers the Consumer Cyclical sector, focusing on stocks such as Costco, Traeger, and Driven Brands Holdings.

In another report released on May 5, Piper Sandler also maintained a Buy rating on the stock with a $38.00 price target.