FMP

FMP

Enter

Yeti Plunges 5% Following KeyBanc Downgrade

- (Last modified: Dec 19, 2023 6:49 PM)

twitterlinkedinfacebook
blog post cover photo

Image credit: FMP

Yeti Holdings (NYSE:YETI) has been downgraded from Sector Weight to Underweight by KeyBanc analysts. As a result, shares dropped more than 5% intra-day today.

The analysts expressed concerns based on their research within the quarter, which indicated a growing skepticism regarding Yeti's ability to achieve peak-season revenue growth as anticipated, even with the introduction of the soft cooler refresh. Additionally, the analysts doubt the company's ability to sustain double-digit growth in the medium term due to ongoing email promotions, high inventory levels in the wholesale channel, widespread in-store discounts, and weaker direct-to-consumer (DTC) trends.

The analysts explains that recent price movements and additional evidence of continuous promotional activities, increased competition, and a decline in DTC performance have heightened the potential for downside risk. While initially hesitant to downgrade Yeti in mid-June, these factors have led the analysts to reassess their outlook on the stock.

Other Blogs

May 14, 2024 11:41 AM - Sanzhi Kobzhan

The easiest way to calculate stock’s target price and why the target price is important.

A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...

blog post title

May 16, 2024 8:06 PM - Gordon Thompson

Deutsche Bank Upgrades AST SpaceMobile to Buy Amid Legal Challenges

On Thursday, May 16, 2024, Deutsche Bank upgraded its rating on NASDAQ:ASTS to Buy, maintaining a hold position. At the time of the announcement, ASTS was trading at $4.03. This decision was accompanied by an increase in the price target for AST SpaceMobile, raised to $22 from $19, as detailed in a ...

blog post title

May 24, 2024 9:30 AM - Rajnish Katharotiya

How to Access and Analyze Earnings Call Transcripts

Earnings call transcripts are invaluable resources for investors, analysts, and financial enthusiasts. They provide insights into a company's performance, strategy, and future outlook, making them essential for making informed investment decisions. With Financial Modeling Prep, Earnings Call Transcr...

blog post title
FMP

FMP

Financial Modeling Prep API provides real time stock price, company financial statements, major index prices, stock historical data, forex real time rate and cryptocurrencies. Financial Modeling Prep stock price API is in real time, the company reports can be found in quarter or annual format, and goes back 30 years in history.
twitterlinkedinfacebookinstagram
2017-2024 © Financial Modeling Prep