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

Shares of Traeger, Inc. (NYSE:COOK) have earned an average recommendation of “Hold” from the five analysts that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $4.10.

Several analysts recently issued reports on COOK shares. Canaccord Genuity Group upped their price objective on shares of Traeger from $6.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Royal Bank of Canada upped their price target on Traeger from $2.50 to $2.75 and gave the company a “sector perform” rating in a research report on Thursday, November 7th. Telsey Advisory Group reiterated an “outperform” rating and set a $4.00 price objective on shares of Traeger in a research report on Thursday, November 7th. Finally, Piper Sandler upped 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.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Quadrature Capital Ltd purchased a new stake in Traeger in the third quarter valued at $50,000. SG Americas Securities LLC purchased a new stake in Traeger in the 3rd quarter valued at about $51,000. Public Employees Retirement System of Ohio lifted its position in Traeger by 70.9% in the third quarter. Public Employees Retirement System of Ohio now owns 16,883 shares of the company’s stock valued at $62,000 after buying an additional 7,006 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Traeger during the second quarter valued at about $52,000. Finally, XTX Topco Ltd purchased a new stake in shares of Traeger in the 3rd quarter valued at approximately $118,000. 46.84% of the stock is currently owned by hedge funds and other institutional investors.

Traeger Stock Performance

Shares of NYSE:COOK opened at $3.01 on Wednesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.09 and a quick ratio of 1.08. Traeger has a 1 year low of $1.97 and a 1 year high of $3.97. The firm has a market capitalization of $393.11 million, a PE ratio of -7.53 and a beta of 1.25. The business’s 50 day moving average price is $3.13 and its 200-day moving average price is $2.97.

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 the consensus estimate of ($0.06). Traeger had a negative net margin of 8.53% and a negative return on equity of 10.57%. The company had revenue of $122.05 million for the quarter, compared to analysts’ expectations of $118.74 million. During the same quarter in the previous year, the company posted ($0.16) EPS. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts expect that Traeger will post -0.12 earnings per share 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.