Brokerages Set Traeger, Inc. (NYSE:COOK) Price Target at $4.00

Shares of Traeger, Inc. (NYSE:COOK) have received a consensus recommendation of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $4.00.

COOK has been the topic of a number of recent research reports. Piper Sandler boosted their target price on Traeger from $3.50 to $3.75 and gave the company a “neutral” rating in a report on Thursday, November 7th. Royal Bank of Canada lifted their price target on shares of Traeger from $2.50 to $2.75 and gave the company a “sector perform” rating in a research report on Thursday, November 7th. Robert W. Baird boosted their price objective on shares of Traeger from $2.50 to $3.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $4.00 target price on shares of Traeger in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group raised their price target on shares of Traeger from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in Traeger during the first quarter worth approximately $27,000. Quadrature Capital Ltd bought a new stake in shares of Traeger in the 3rd quarter worth about $50,000. AQR Capital Management LLC bought a new stake in Traeger in the second quarter valued at about $52,000. Public Employees Retirement System of Ohio increased its holdings in shares of Traeger by 70.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,883 shares of the company’s stock valued at $62,000 after acquiring an additional 7,006 shares during the last quarter. Finally, Drive Wealth Management LLC bought a new stake in Traeger during the third quarter valued at $118,000. Institutional investors and hedge funds own 46.84% of the company’s stock.

Traeger Stock Down 4.4 %

Shares of NYSE:COOK opened at $2.84 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.42. Traeger has a twelve month low of $1.97 and a twelve month high of $3.97. The company has a market capitalization of $370.90 million, a PE ratio of -7.10 and a beta of 1.25. The firm has a 50 day simple moving average of $3.31 and a 200-day simple moving average of $2.85.

Traeger (NYSE:COOK) last announced its earnings results on Wednesday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). Traeger had a negative net margin of 8.53% and a negative return on equity of 10.57%. The business had revenue of $122.05 million for the quarter, compared to analyst estimates of $118.74 million. During the same period last year, the firm posted ($0.16) earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts predict that Traeger will post -0.12 EPS for the current fiscal 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.