Yeti (YETI) shares ended the last trading session 7.2% higher at $41.17. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.4% gain over the past four weeks.
YETI is benefiting from strong demand for its premium drinkware and coolers, supported by brand loyalty and innovation in new product launches. It is also gaining from its direct-to-consumer expansion and international growth initiatives, which are helping drive higher-margin sales and broader market reach.
This maker of outdoor and recreational products is expected to post quarterly earnings of $0.17 per share in its upcoming report, which represents a year-over-year change of -45.2%. Revenues are expected to be $374.36 million, up 6.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Yeti, the consensus EPS estimate for the quarter has been revised 7.4% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on YETI going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Yeti is part of the Zacks Leisure and Recreation Products industry. Brunswick (BC), another stock in the same industry, closed the last trading session 5% higher at $81.23. BC has returned 8.6% in the past month.
For Brunswick, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.46. This represents a change of -17.9% from what the company reported a year ago. Brunswick currently has a Zacks Rank of #3 (Hold).
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YETI Holdings, Inc. (YETI): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).