12 Best RV and Camping Stocks To Buy Now

4. YETI Holdings, Inc. (NYSE:YETI)

Number of Hedge Fund Holders: 31

YETI Holdings, Inc. (NYSE:YETI) designs, retails and distributes innovative products for the outdoor and recreation market. The company caters to various outdoor activities such as camping, hunting, fishing, barbecue, and other activities, making its products ideal for outdoor enthusiasts.

In Q2 2024, the company highlighted the success of its innovative cooler designs, which are expected to drive growth in the second half of 2024. YETI Holdings, Inc. (NYSE:YETI) is also expanding its drinkware line, enhancing customer engagement through strong social media presence and global sales performance. This focus on innovation and customer satisfaction positions YETI well in the competitive outdoor and camping market.

YETI Holdings, Inc. (NYSE:YETI) is investing to strengthen its presence in Asia and Europe and expand its logistics capabilities. These efforts support the company’s goal of efficiently scaling operations while diversifying its global supply chain. During the third quarter of 2024, the company commenced production at its second drinkware facility outside of China.

In Q3 2024, the company introduced several exciting new products, with a focus on its drinkware segment while also expanding into bar and tableware and entering the premium cookware market. The company’s global business also performed extremely well, with the brand’s international sales increasing for the fourth straight quarter by over 30%.

YETI Holdings, Inc. (NYSE:YETI) reported a 10% increase in net sales in Q3 2024, with coolers and equipment sales rising by 12%. Drinkware sales grew by 9% year-over-year. The company’s US sales increased by 7% while international sales surged by 30%, reflecting strong demand across all channels. The company also achieved a 32% increase in net income to $56.3 million, demonstrating effective management and operational efficiency.

YETI ranks among the best RV and camping stocks to buy. Over the past 5 years, YETI Holdings, Inc. (NYSE:YETI) has managed to grow its revenue at a compound annual growth rate (CAGR) of 16%, while its net income has increased at a CAGR of 23%.

According to Insider Monkey’s database, 31 hedge funds held stakes in YETI Holdings, Inc. (NYSE:YETI) in the second quarter of 2024. Additionally, the median 1-year stock price target for YETI set by analysts indicates a potential upside of 17% from its current price.