Brokerages Set Traeger, Inc. (NYSE:COOK) Price Target at $3.30

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

A number of analysts have weighed in on the company. Telsey Advisory Group restated an “outperform” rating and set a $4.00 target price on shares of Traeger in a report on Wednesday, August 7th. Royal Bank of Canada upped their target price on Traeger from $2.00 to $2.50 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. Piper Sandler upgraded Traeger from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Robert W. Baird upped their target price on Traeger from $2.50 to $3.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th.

Institutional Trading of Traeger

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in shares of Traeger by 56.3% in the 2nd 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. Panagora Asset Management Inc. increased its position in shares of Traeger by 19.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 182,484 shares of the company’s stock valued at $438,000 after acquiring an additional 29,694 shares during the period. Diversify Wealth Management LLC increased its position in shares of Traeger by 5.4% in the 3rd quarter. Diversify Wealth Management LLC now owns 164,547 shares of the company’s stock valued at $606,000 after acquiring an additional 8,499 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Traeger in the 2nd quarter valued at $345,000. Finally, Empowered Funds LLC increased its position in shares of Traeger by 398.0% in the 1st quarter. Empowered Funds LLC now owns 128,493 shares of the company’s stock valued at $325,000 after acquiring an additional 102,689 shares during the period. Hedge funds and other institutional investors own 46.84% of the company’s stock.

Traeger Price Performance

Shares of NYSE COOK opened at $3.05 on Tuesday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.21 and a current ratio of 2.04. The firm has a market capitalization of $393.05 million, a price-to-earnings ratio of -4.62 and a beta of 1.23. The stock has a 50 day moving average price of $3.44 and a 200 day moving average price of $2.74. Traeger has a 52-week low of $1.97 and a 52-week high of $3.97.

Traeger (NYSE:COOK) last posted its 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 company had revenue of $168.47 million during the quarter, compared to analyst estimates of $168.07 million. Traeger had a negative return on equity of 12.65% and a negative net margin of 8.50%. Traeger’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.23) earnings per share. Sell-side analysts expect that Traeger will post -0.12 earnings per share for the current year.

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.