Not a single analyst rates YETI a “sell”
YETI Holdings, Inc. (NYSE:YETI) is deep in the red today, last seen down 5.7% to trade at $29.62. Last week, Piper Sandler slashed YETI’s price target to $48 from $76, warning that a reduction of discretionary spending from Americans could weigh on premium products such as the drinkware maker.
While we don’t believe in #freeads, Yeti products appear to be worth the investment. But that’s just what they are, an investment that might be put on ice — no pun intended — when the macroeconomic picture is as murky as it is now.
On the charts, YETI has been consolidating around the $30 level for the last month. The shares are down 64% in 2022, and remain a chip-shot from their Sept. 30 two-year bottom of $27.86. More price-target cuts or even downgrades could be on the way, considering nine of 13 brokerages in coverage rate YETI a “buy” or better, with zero “sells” on the books. Plus, the consensus 12-month price target of $54.86 is an 84% premium to the equity’s current perch.
Short-term options traders are call-focused, per YETI’s Schaeffer’s put/call open interest ratio (SOIR) of 0.25 that sits higher than just 3% of readings from the last 12 months. Should you want to speculate on the security with options, it’s also worth noting the YETI’s Schaeffer’s Volatility Scorecard (SVS) ranks at a relatively high 85 out of 100. This suggests Yeti stock has exceeded option traders’ volatility expectations during the last year.
Image and article originally from www.schaeffersresearch.com. Read the original article here.