Traeger, Inc. (NYSE:COOK) Receives Average Rating of “Hold” from Brokerages

Traeger, Inc. (NYSE:COOK) has been given an average recommendation of “Hold” by the seven research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $50.0833.

A number of equities research analysts have weighed in on the company. B. Riley Financial reiterated a “neutral” rating and issued a $40.00 target price (up from $30.00) on shares of Traeger in a report on Tuesday, May 12th. Weiss Ratings upgraded Traeger from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 8th. Zacks Research upgraded shares of Traeger from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 8th. Piper Sandler reiterated a “neutral” rating and set a $38.00 target price on shares of Traeger in a research report on Tuesday, May 12th. Finally, Robert W. Baird set a $40.00 target price on shares of Traeger in a research note on Tuesday, May 12th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in Traeger by 9,116.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,368,133 shares of the company’s stock valued at $2,889,000 after purchasing an additional 2,342,438 shares during the last quarter. Artisan Partners Limited Partnership raised its position in Traeger by 100.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,000,000 shares of the company’s stock valued at $2,160,000 after buying an additional 1,000,000 shares during the last quarter. FreeGulliver LLC bought a new position in Traeger during the 4th quarter valued at $248,000. Bridgeway Capital Management LLC lifted its stake in Traeger by 27.1% during the 3rd quarter. Bridgeway Capital Management LLC now owns 866,761 shares of the company’s stock valued at $1,057,000 after acquiring an additional 185,014 shares in the last quarter. Finally, MYDA Advisors LLC purchased a new position in Traeger during the 4th quarter worth $173,000. 46.84% of the stock is owned by institutional investors and hedge funds.

Traeger Stock Down 9.7%

Shares of NYSE COOK opened at $61.33 on Monday. The stock has a 50-day moving average price of $67.15 and a two-hundred day moving average price of $50.17. Traeger has a 12 month low of $20.91 and a 12 month high of $98.50. The company has a current ratio of 3.40, a quick ratio of 2.01 and a debt-to-equity ratio of 2.29. The company has a market cap of $170.49 million, a price-to-earnings ratio of -1.46 and a beta of 1.95.

Traeger (NYSE:COOK) last released its quarterly earnings data on Monday, May 11th. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.36) by $4.85. The business had revenue of $94.07 million during the quarter, compared to analysts’ expectations of $95.05 million. Traeger had a negative net margin of 21.84% and a negative return on equity of 13.76%. As a group, analysts forecast that Traeger will post -2.29 earnings per share for the current fiscal year.

Traeger Company Profile

Traeger, trading on the NYSE under the ticker COOK, is a designer, manufacturer and marketer of wood pellet grills and outdoor cooking appliances. The company’s core product lineup features a range of hardwood-pellet grills that combine wood-fired flavor with digital temperature control. Beyond grills, Traeger offers a suite of accessories—such as grill covers, smoking woods, meat probes and recipe rubs—as well as outdoor kitchen solutions designed to serve both consumer and light-commercial segments.

Founded in 1985 by Joe Traeger, the brand pioneered the wood-pellet grilling category.