2 Stocks Move on Tuesday

Ecology & Environment, Yeti Holdings rise on earnings and rating news

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Jun 18, 2019
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Shares of Ecology & Environment Inc. (

EEI, Financial) gained more than 3% on Tuesday after announcing third-quarter results on Monday. The company posted a loss of 24 cents per share on $51.9 million in revenue, reflecting a 19.8% decline from the prior-year quarter.

“We have been notified by Nasdaq that our filing delinquencies have been remedied and that the potential delisting has been favorably resolved,” Executive Chairman Marshall A. Heinberg said. “Unfortunately, our third quarter was a difficult one. Nonrecurring employee severance costs and audit expenses associated with the restatement had a negative impact, while growth initiatives undertaken in the second quarter, including a restructuring of US Operations to drive improved efficiency and strategic investments in sales and marketing, are not yet reflected in our results.”

During the quarter ended March 31,

Jim Simons (Trades, Portfolio)'s Renaissance Technologies reduced its position by 0.39% to 128,517 shares.

Shares of Yeti Holdings Inc. (

YETI, Financial) gained more than 5% on Tuesday after analysts at Robert W. Baird reiterated their “outperform rating” after it announced several new products, including a next-generation soft cooler, stackable coffee mug, lunch box and dog bed. Further, it will introduce three new colors: river green, peak purple and clay.

“We are encouraged by the pace of product innovation at YETI, which serves to expand the brand’s addressable market opportunity,” Baird analyst Peter Benedict wrote in a note to clients.

The stock has risen more than 50% since going public in October. Yahoo Finance's price target implies 30% upside from the current price.

During the quarter ended March 31, guru 

Paul Tudor Jones (Trades, Portfolio) trimmed his holding of the stock.

Disclosure: The author holds no positions in any stocks mentioned.

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