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

Shares of Traeger, Inc. (NYSE:COOK) have been given a consensus recommendation of “Moderate Buy” by the seven research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $3.30.

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

Traeger Stock Up 3.1 %

Shares of NYSE COOK opened at $3.65 on Friday. The company has a quick ratio of 1.21, a current ratio of 2.04 and a debt-to-equity ratio of 1.34. The firm has a 50-day moving average price of $3.12 and a 200 day moving average price of $2.60. Traeger has a 52 week low of $1.97 and a 52 week high of $3.96. The stock has a market capitalization of $472.57 million, a price-to-earnings ratio of -5.53 and a beta of 1.23.

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

Institutional Trading of Traeger

A number of institutional investors have recently modified their holdings of COOK. Capital World Investors grew its stake in shares of Traeger by 4.9% in the fourth quarter. Capital World Investors now owns 6,499,660 shares of the company’s stock valued at $17,744,000 after buying an additional 304,660 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Traeger in the second quarter valued at approximately $345,000. Empowered Funds LLC raised its stake in shares of Traeger by 398.0% during the first quarter. Empowered Funds LLC now owns 128,493 shares of the company’s stock valued at $325,000 after purchasing an additional 102,689 shares during the period. Squarepoint Ops LLC lifted its position in shares of Traeger by 712.1% during the second quarter. Squarepoint Ops LLC now owns 85,713 shares of the company’s stock worth $206,000 after purchasing an additional 75,159 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Traeger by 56.3% during the second quarter. Dimensional Fund Advisors LP now owns 201,562 shares of the company’s stock worth $484,000 after purchasing an additional 72,637 shares in the last quarter. Hedge funds and other institutional investors own 46.84% of the company’s stock.

Traeger Company Profile

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.