William Blair analyst Phillip Blee has maintained their bullish stance on YETI stock, giving a Buy rating on August 8.
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Phillip Blee has given his Buy rating due to a combination of factors that suggest Yeti Holdings is poised for future growth. Despite a mixed second-quarter performance where sales were slightly below expectations, the company exceeded gross margin and EPS forecasts. Management’s confidence in a second-half improvement, driven by a projected rebound in domestic drinkware sales and a strategic focus on product innovation, supports a positive outlook.
Yeti’s commitment to expanding its product offerings and entering new categories, such as packs, bags, and luggage, is seen as a key driver for future growth. The company has maintained its wholesale shelf space and is in discussions with retail partners about expanding its footprint for upcoming product launches. These initiatives, combined with easing comparisons in the fourth quarter and a focus on new product introductions, are expected to stabilize and potentially grow Yeti’s sales, justifying the Buy rating.
In another report released on August 8, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $36.00 price target.