Traeger, Inc. (NYSE:COOK) Given Consensus Recommendation of “Moderate Buy” by Analysts

Traeger, Inc. (NYSE:COOK) has earned an average recommendation of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $3.30.

Several equities research analysts have issued reports on COOK shares. Robert W. Baird lifted their price objective on Traeger from $2.50 to $3.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Piper Sandler upgraded Traeger from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Telsey Advisory Group reiterated an “outperform” rating and issued a $4.00 price target on shares of Traeger in a report on Wednesday, August 7th. Finally, Royal Bank of Canada boosted their price target on Traeger from $2.00 to $2.50 and gave the company a “sector perform” rating in a report on Thursday, August 8th.

Traeger Price Performance

COOK stock opened at $3.59 on Monday. The company has a quick ratio of 1.21, a current ratio of 2.04 and a debt-to-equity ratio of 1.34. Traeger has a 52-week low of $1.97 and a 52-week high of $4.61. The stock’s 50 day moving average is $2.65 and its two-hundred day moving average is $2.42. The company has a market capitalization of $462.64 million, a PE ratio of -5.44 and a beta of 1.15.

Traeger (NYSE:COOK) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. Traeger had a negative return on equity of 12.65% and a negative net margin of 8.50%. The company had revenue of $168.47 million for the quarter, compared to the consensus estimate of $168.07 million. During the same period in the previous year, the business earned ($0.23) EPS. Traeger’s revenue for the quarter was down 1.8% compared to the same quarter last year. Analysts predict that Traeger will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Traeger

A number of institutional investors have recently made changes to their positions in COOK. Capital World Investors grew its stake in Traeger by 4.9% during the 4th quarter. Capital World Investors now owns 6,499,660 shares of the company’s stock worth $17,744,000 after buying an additional 304,660 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Traeger by 56.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 201,562 shares of the company’s stock worth $484,000 after buying an additional 72,637 shares during the last quarter. Panagora Asset Management Inc. grew its stake in Traeger by 19.4% during the 2nd quarter. Panagora Asset Management Inc. now owns 182,484 shares of the company’s stock worth $438,000 after buying an additional 29,694 shares during the last quarter. Renaissance Technologies LLC bought a new position in Traeger during the 2nd quarter worth $345,000. Finally, Empowered Funds LLC grew its stake in Traeger by 398.0% during the 1st quarter. Empowered Funds LLC now owns 128,493 shares of the company’s stock worth $325,000 after buying an additional 102,689 shares during the last quarter. 46.84% of the stock is currently owned by institutional investors.

About Traeger

Traeger, Inc, together with its subsidiaries, designs, sources, sells, and supports wood pellet fueled barbecue grills for retailers, distributors, and direct to consumers in the United States. Its wood pellet grills are internet of things devices that allow owners to program, monitor, and control their grill through its Traeger app.