Traeger, Inc. (NYSE:COOK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Traeger, Inc. (NYSE:COOK) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the firm, Marketbeat Ratings 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 price objective among brokerages that have covered the stock in the last year is $4.00.

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

Institutional Investors Weigh In On Traeger

Several hedge funds have recently made changes to their positions in the business. Empowered Funds LLC grew its position in 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 buying an additional 102,689 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Traeger in the first quarter valued at about $27,000. Panagora Asset Management Inc. increased 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 worth $438,000 after acquiring an additional 29,694 shares during the period. Dimensional Fund Advisors LP lifted its position in Traeger by 56.3% in the second quarter. Dimensional Fund Advisors LP now owns 201,562 shares of the company’s stock valued at $484,000 after purchasing an additional 72,637 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Traeger in the 2nd quarter valued at approximately $345,000. Institutional investors and hedge funds own 46.84% of the company’s stock.

Traeger Trading Up 0.7 %

Shares of COOK opened at $2.97 on Friday. Traeger has a 12-month low of $1.97 and a 12-month high of $3.97. The firm has a market capitalization of $387.89 million, a P/E ratio of -7.43 and a beta of 1.25. The firm has a 50-day moving average price of $3.32 and a 200 day moving average price of $2.83. 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 (NYSE:COOK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). The business had revenue of $122.05 million for the quarter, compared to analyst estimates of $118.74 million. Traeger had a negative return on equity of 10.57% and a negative net margin of 8.53%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.16) EPS. Sell-side analysts forecast that Traeger will post -0.12 EPS for the current year.

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.