The stock of YETI Holdings, Inc. (NYSE:YETI) is now priced at $53.54 and the shares are 2.16 points up or 4.2% higher compared to its previous closing price of $51.38. The stock had 1.446 million contracts set over the past session. YETI shares’ daily volume is compared to its average trading volume at 1.566 million shares. However, it has a float of 78.01 million and although its performance was 3.7% over the week, it’s one to watch. Analysts have given the YETI stock a yearly average price target of $56.36 per share. It means the stock’s upside potential is 5.27% with the YETI share price recently placing at $51.66 to $53.54. However, some brokerage firms have priced the stock below the average, including one that has called $41.
The shorts are running away from the YETI Holdings, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the YETI shares have declined. Short interest in the stock represents just 9.88% of its float, but the volume has dropped by 0.
In the last trading session, YETI Holdings, Inc. (NYSE:YETI) raised by $1.91 over the week and gained $3.03 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $55.04. The stock recorded its established 52-week high on 08/06/20.
Since 03/23/20, the stock has traded to a low of $15.28 at 250.39%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, YETI Holdings, Inc.’s two-week RSI is 68.46. This suggests that the stock is neutral at the moment and that YETI shares’ price movement remains stable. The stochastic readings are equally revealing at 81.25% meaning the YETI share price is currently in oversold territory.
The technical chart shows that the YETI stock will likely settle at between $54.17 and $54.79 per share. However, if the stock dips below $52.29, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $51.03.
Currently, the stock is trading in the green of MACD, with a reading of 0.64. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Berenberg cut their recommendation for YETI from Buy to Hold in August 17 review while maintai their target price of $48. Goldman analysts downgraded their recommendation of the stock from Buy to Neutral while keeping its target price at $31 to $40 in a flash note released to investors on July 07. BTIG Research analysts see the stock as Buy when the analysts initiated the share price coverage on April 29, placing it at $30.
The average rating for the YETI equity is 1.87 and is currently gathering a bullish momentum. Of 15 analysts tracking YETI Holdings, Inc. polled by Reuters, 5 rated YETI as a hold. The remaining 10 analysts were split evenly. However, the split wasn’t equal as a majority (10) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the YETI stock price is 30.97X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for YETI Holdings, Inc. (NYSE:YETI) will decrease by about -99.89%, which will see them reach $260 million. The company’s full-year revenues are, however, expected to increase by about 11.63%, up from $914 million to $1020 million. YETI’s expected adjusted earnings should surge almost 23.33% to end up at $0.37 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 20.83% to record $1.45/share.