AQR Capital Management LLC Makes New Investment in Traeger, Inc. (NYSE:COOK)

AQR Capital Management LLC bought a new stake in Traeger, Inc. (NYSE:COOK) during the 2nd quarter, Holdings Channel reports. The firm bought 21,726 shares of the company’s stock, valued at approximately $52,000.

A number of other institutional investors have also modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in Traeger in the first quarter valued at about $27,000. Norden Group LLC acquired a new stake in shares of Traeger in the 1st quarter valued at approximately $59,000. Panagora Asset Management Inc. raised its position in Traeger by 19.4% in the second quarter. Panagora Asset Management Inc. now owns 182,484 shares of the company’s stock worth $438,000 after acquiring an additional 29,694 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Traeger by 56.3% in the second quarter. Dimensional Fund Advisors LP now owns 201,562 shares of the company’s stock valued at $484,000 after acquiring an additional 72,637 shares during the period. Finally, Squarepoint Ops LLC lifted its holdings in Traeger by 712.1% in the second quarter. Squarepoint Ops LLC now owns 85,713 shares of the company’s stock valued at $206,000 after acquiring an additional 75,159 shares during the period. Institutional investors and hedge funds own 46.84% of the company’s stock.

Traeger Stock Down 1.5 %

Shares of NYSE COOK opened at $3.21 on Friday. The firm’s 50-day moving average is $3.42 and its two-hundred day moving average is $2.71. The company has a market capitalization of $413.67 million, a PE ratio of -4.86 and a beta of 1.23. Traeger, Inc. has a 12-month low of $1.97 and a 12-month high of $3.97. The company has a debt-to-equity ratio of 1.34, a current ratio of 2.04 and a quick ratio of 1.21.

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

Analyst Ratings Changes

COOK has been the subject of a number of research analyst reports. Robert W. Baird increased their price target on shares of Traeger from $2.50 to $3.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada increased their target price on shares of Traeger from $2.00 to $2.50 and gave the company a “sector perform” rating in a report on Thursday, August 8th. Telsey Advisory Group reissued an “outperform” rating and set a $4.00 price target on shares of Traeger in a research note on Wednesday, August 7th. Finally, Piper Sandler upgraded Traeger from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Traeger currently has a consensus rating of “Moderate Buy” and an average price target of $3.30.

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.