YETI
Intraday Fundamentals
Yeti Holdings Inc. (YETI) reported Thursday second-quarter earnings that beat expectations and raised its full-year outlook. The stock was still inactive in premarket trading. Net income rose to $22.2 million, or 26 cents a share, from $18.8 million, or 23 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted EPS rose to 33 cents from 28 cents, above the FactSet consensus of 30 cents. Revenue rose to $231.7 million from $206.3 million a year ago, to beat the FactSet consensus of $226.2 million. Drinkware sales grew 16% to $117.0 million, above the FactSet consensus of $112.7 million, while coolers and equipment sales increased 9% to $109.1 million to beat expectations of $ 104.8 million. For 2019, the company raised its sales growth guidance range to 13.5% to 14.0% from 11.5% to 13.0% and its adjusted EPS outlook to $1.07 to $1.09 from $1.02 to $1.06. The stock has more than doubled (up 134%) year to date through Wednesday, while S&P 500 has gained 19%.
Technicals
ADV1.95m RVOL 1.12 ATR 1.72 Short 23% Inst own 87%
Trading Plan
• Look for a long at 33.50 and 34 currently have s2 at 33.50
• A flush to 33 would leave a tighter stop at 32.80 target 34
• A hold above 35 with VWAP and the MA under target 36
Reading the tape
I still say this without a lot of confidence. But, the tape seemed strong at 33 every time it traded there. Spread was little bit hard for me to keep track. So, I couldn’t tell if there was a big buyer seller just quick moves to and off 33.
Trade Management
Trade Review
• Solid on plan trade
• I am not sure if there was anything that told me that I should leave more room
• I needed a little more presence to gun at this again looking back on that wicking candle that took out the position and it’s volume.
• I would say that I should have consider a 20c stop on a stock spreading more than 20c is probably
• I will work on giving more room on these and adding if the trade starts for these opening plays
Trade grade
Aspect Score Poss. Notes
Preparation 9 10 Always room for improvement but the level as solid to play and the target set a good risk profile.
Hard Work 8 10 I opened with this trade and followed the action best I could with my current skills
Patience 8 10 YES
Plan 8 10 Target @34. Level to play 33 stop all determined well in advnace
Discipline 8 10 Mostly 32.04 is not 32 but the stop value was adjusted and still worked within the profile
Contribution NA 10
Replay 0 10
Execution detail:
Date/time | Symbol | Side | Price | Position |
---|---|---|---|---|
2019-08-01 09:33:00 | YETI | buy | $33.045 | long |
2019-08-01 09:34:09 | YETI | sell | $32.680 | 0 |
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