YETI - YETI Holdings: With Return To Solid Growth And Consistent Margin Expansion Some Clouds Have Lifted (Upgrade)
2024-06-22 10:34:02 ET
Summary
- YETI stock has fallen over 10% year to date, but a hopeful Q1 earnings report has led to a slight rebound.
- The company has returned to solid double-digit growth alongside significant gross margin expansion.
- International performance is particularly impressive, with >30% revenue growth in Q1.
- The stock trades at a relatively modest ~15x P/E multiple, a discount to the broader S&P 500 despite improved growth expectations.
- Upgrading YETI to Neutral.
While the stock market has risen robustly this year, the rising tide has not lifted all boats. Many companies in the consumer discretionary sector still remain holdouts in the rally as overall spending weakens, and YETI ( YETI ) is no exception. ...
YETI Holdings: With Return To Solid Growth And Consistent Margin Expansion, Some Clouds Have Lifted (Upgrade)