Canaccord Genuity Group Issues Pessimistic Forecast for Traeger (NYSE:COOK) Stock Price

Traeger (NYSE:COOK) had its price objective decreased by equities research analysts at Canaccord Genuity Group from $100.00 to $75.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 195.57% from the stock’s previous close.

Other analysts have also issued research reports about the company. Zacks Research raised Traeger from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. B. Riley Financial reissued a “neutral” rating and set a $40.00 target price (down from $50.00) on shares of Traeger in a research note on Friday, March 6th. Piper Sandler cut their price target on Traeger from $75.00 to $37.50 and set a “neutral” rating on the stock in a report on Friday, March 6th. Wall Street Zen lowered Traeger from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Finally, Telsey Advisory Group decreased their price objective on Traeger from $75.00 to $50.00 and set a “market perform” rating for the company in a research note on Friday, March 6th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $53.00.

Traeger Trading Up 3.9%

Shares of COOK stock opened at $25.38 on Wednesday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.45 and a current ratio of 2.68. The stock has a market capitalization of $69.53 million, a P/E ratio of -0.58 and a beta of 1.41. The company has a 50 day moving average price of $42.22 and a 200 day moving average price of $48.47. Traeger has a fifty-two week low of $20.91 and a fifty-two week high of $110.50.

Traeger (NYSE:COOK) last released its earnings results on Friday, March 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.99). Traeger had a negative return on equity of 12.01% and a negative net margin of 20.59%.The business had revenue of $145.36 million for the quarter, compared to analyst estimates of $135.05 million. Equities research analysts predict that Traeger will post -0.12 EPS for the current fiscal year.

Institutional Trading of Traeger

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE boosted its position in shares of Traeger by 36.6% during the 4th quarter. Bank of America Corp DE now owns 33,314 shares of the company’s stock worth $80,000 after acquiring an additional 8,933 shares in the last quarter. Diversify Wealth Management LLC raised its position in shares of Traeger by 9.8% during the 3rd quarter. Diversify Wealth Management LLC now owns 125,755 shares of the company’s stock worth $153,000 after acquiring an additional 11,194 shares in the last quarter. Williams & Novak LLC lifted its stake in Traeger by 16.9% during the fourth quarter. Williams & Novak LLC now owns 95,000 shares of the company’s stock worth $103,000 after purchasing an additional 13,700 shares during the last quarter. Empowered Funds LLC lifted its stake in Traeger by 9.3% during the first quarter. Empowered Funds LLC now owns 167,696 shares of the company’s stock worth $282,000 after purchasing an additional 14,271 shares during the last quarter. Finally, Blair William & Co. IL boosted its holdings in Traeger by 19.9% in the fourth quarter. Blair William & Co. IL now owns 92,680 shares of the company’s stock valued at $100,000 after purchasing an additional 15,400 shares in the last quarter. 46.84% of the stock is currently owned by institutional investors and hedge funds.

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.