Traeger (NYSE:COOK) Trading 8.4% Higher

Traeger, Inc. (NYSE:COOK)’s share price traded up 8.4% during trading on Thursday . The stock traded as high as $3.90 and last traded at $3.88. 249,188 shares were traded during mid-day trading, a decline of 13% from the average session volume of 287,568 shares. The stock had previously closed at $3.58.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Telsey Advisory Group restated an “outperform” rating and issued a $4.00 price objective on shares of Traeger in a research report on Wednesday, August 7th. Royal Bank of Canada boosted their target price on Traeger from $2.00 to $2.50 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th. Robert W. Baird boosted their target price on Traeger from $2.50 to $3.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Piper Sandler upgraded Traeger from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $3.30.

Traeger Stock Performance

The company has a debt-to-equity ratio of 1.34, a current ratio of 2.04 and a quick ratio of 1.21. The business has a 50-day simple moving average of $2.97 and a 200-day simple moving average of $2.54. The firm has a market capitalization of $493.57 million, a PE ratio of -5.82 and a beta of 1.23.

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 analysts’ consensus estimates 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 business had revenue of $168.47 million for the quarter, compared to the consensus estimate of $168.07 million. During the same period in the prior year, the business posted ($0.23) earnings per share. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities research analysts expect that Traeger, Inc. will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Traeger

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC bought a new position in shares of Traeger during the second quarter valued at approximately $52,000. Squarepoint Ops LLC grew its stake in shares of Traeger by 712.1% during the second quarter. Squarepoint Ops LLC now owns 85,713 shares of the company’s stock valued at $206,000 after buying an additional 75,159 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Traeger during the second quarter valued at approximately $345,000. Dimensional Fund Advisors LP grew its stake 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 valued at $484,000 after buying an additional 72,637 shares during the last quarter. Finally, Panagora Asset Management Inc. grew its stake in shares of Traeger by 19.4% during the second quarter. Panagora Asset Management Inc. now owns 182,484 shares of the company’s stock valued at $438,000 after buying an additional 29,694 shares during the last quarter. 46.84% of the stock is currently owned by hedge funds and other institutional investors.

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.