2024-01-24 01:29:32 ET
Summary
- Stanley's resurgence in popularity poses a potential threat to YETI's market share in the drinkware space.
- YETI's stock is overvalued at a 17x P/E considering its growth prospects, with aggressive expectations for FY24 unlikely to pan out.
- Resellers have been de-stocking YETI inventory and lowering orders, which diminishes YETI's overall brand presence despite its growth in DTC sales.
YETI Holdings, Inc. ( YETI ) is out, and Stanley is in. Of all the wildest social media sensations to hit us this year, the TikTok-driven rise of the Stanley cup is perhaps the most surprising. In the blink of an eye, these decade-old products have gone from being practical household staples to collectors' items, with many resellers seeing stocked-out shelves and even large theft attempts ....
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For further details see:
YETI Holdings Stock: More Risk Than Reward (Rating Downgrade)