Yeti Stock Brushes Off Quarterly Earnings, Revenue Beat

Year-to-date, Yeti stock has shed more than 23%

Digital Content Manager
Feb 17, 2022 at 11:12 AM
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Yeti Holdings Inc (NYSE:YETI) stepped into the earnings confessional to report fourth-quarter earnings results this morning. The company posted profits of 87 cents per share -- higher than Wall Street's estimates of 84 cents per share -- as well as a revenue beat, thanks to an 18% increase in net sales. However, the company's full-year outlook came in below expectations, helping nudge YETI down 2.8% to trade at $63.68 at last check. 

The equity hit an annual low of $59.24 on Jan. 28, a long way from its Nov. 5, all-time high of $108.75. The shares' descending 30-day moving average, which emerged as an area of resistance after that record peak, has been pressuring YETI lower ever since. Year-to-date, Yeti stock has now shed 23%.

The brokerage bunch is optimistic towards YETI, with six of the eight analysts in question calling it a "buy" or better. Plus, the 12-month consensus target price of $104.71 is a 61.4% premium to current levels. In other words, a shift in analyst sentiment could pressure the stock lower.

Options traders are already responding to the quarterly results. So far today, 1,675 calls and 1,284 puts have crossed the tape, which is three times what is typically seen at this point. Most popular is the February 76 call, where positions are being opened, followed by the 62 put in the same series.

Plus, Yeti's Schaeffer's put/call open interest ratio (SOIR) of 0.42 ranks in the 6th percentile of its annual range. This means short-term option players have rarely been more call-heavy during the past 12 months. Should YETI once again stall in the face of its 30-day moving average, an exodus of option bulls could translate into headwinds for the shares. 

 

 

 




 
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