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YETI

Yeti

$16.11

-3.095 (-16.12%)

06:08
11/30/18
11/30
06:08
11/30/18
06:08

Yeti earnings selloff a buying opportunity, says Piper Jaffray

Piper Jaffray analyst Peter Keith recommends using yesterday's post-earnings selloff in shares of Yeti Holdings as a buying opportunity. The analyst attributes the 16% pullback to an overreaction on Yeti missing its Cooler & Equipment revenue estimate. However, the one-time items cited as headwinds "seem quite reasonable," and Cooler revenue appears to have accelerated in Q4, Keith tells investors in a research note. He sees no change to Yeti's earnings growth outlook of 20%-plus for at least the next two years. The analyst raised his price target for the shares to $24 from $23 and reiterates an Overweight rating on Yeti.

YETI Yeti
$16.11

-3.095 (-16.12%)

11/29/18
BARD
11/29/18
NO CHANGE
Target $23
BARD
Outperform
Baird adds 'fresh pick' designation to Yeti, recommends to buy shares
Baird analyst Peter Benedict kept his Outperform rating and $23 price target on Yeti after its Q3 results, saying the subsequent 16% decline in the stock price was "somewhat perplexing". The analyst notes that the company has matched its pre-IPO disclosures and guided FY18 consistent with expectations. Benedict also believes that the "potential concerns over soft Cooler/Equipment trends" or the lack of "immediate upside" in implied Q4 outlook are misplaced, and adds a "fresh pick" designation to the stock price. The analyst adds that his price target assumes a multiple of 14-times forward EBITDA and still offers a 25% discount to "comparable double-digit growth peers."
11/29/18
RAJA
11/29/18
NO CHANGE
RAJA
Outperform
Yeti's Q3 results, FY18 guidance in line with expectations, says Raymond James
Raymond James analyst Dan Wewer believes Yeti delivered Q3 financial performance that is exactly in line with expectations. The analyst notes that total revenues increased 7%, driven by drinkware increasing 37% and offset by a 16% decline in sales from coolers and equipment. Cooler/equipment sales were especially strong a year ago as Yeti was taking aggressive efforts to liquidate excess inventory, he notes. More importantly, Wewer adds, initial guidance for FY18 appears to be in line with expectations as well, as Yeti delivers on the investment thesis that its brand can generate robust revenue growth accompanied by impressive EBIT margin. He reiterates an Outperform rating on the shares.
11/29/18
JEFF
11/29/18
NO CHANGE
Target $34
JEFF
Buy
Yeti's momentum to continue over next several years, says Jefferies
Jefferies analyst Randal Konik says Q3 showed Yeti's expanding brand awareness and growing DTC channel are viable strategies to efficiently drive the business forward. With a strong management team in place to lead the company, the analyst expects the momentum to continue over the next several years driven by growing brand awareness, ongoing innovation in existing and new product categories, and channel and geographic expansion opportunities. Konik reiterates a Buy rating and $34 price target on the shares.
11/19/18
11/19/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Cognex (CGNX) initiated with a Buy at Berenberg. 2. Yeti (YETI) was initiated with a Buy at Jefferies, Goldman Sachs, Stifel, BofA/Merrill and Citi, an Overweight at Piper Jaffray, KeyBanc, and Morgan Stanley, as well as an Outperform at Baird, William Blair, and Raymond James. 3. WillScot (WSC) initiated with an Equal Weight at Barclays. 4. CarGurus (CARG) initiated with a Buy at SunTrust. 5. Independence Realty Trust (IRT) initiated with an Equalweight at Capital One. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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DTCWY

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SEGXF

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BORR

Borr Drilling

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INSG

Inseego

$6.89

-0.05 (-0.72%)

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FTSV

Forty Seven

$30.44

16.04 (111.39%)

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ARQL

ArQule

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XNCR

Xencor

$41.41

0.39 (0.95%)

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ABR

Arbor Realty

$14.78

(0.00%)

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STRM

Streamline Health

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NLOK

NortonLifeLock

$25.43

-0.02 (-0.08%)

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$56.52

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INTC

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AVGO

Broadcom

$314.49

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TGTX

TG Therapeutics

$9.28

2.17 (30.52%)

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NTNX

Nutanix

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SFIX

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OXY

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OXY

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EDIT

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MSB

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