Traeger, Inc. (NYSE:COOK) Stock Has Average Target Price of $50.50

Traeger, Inc. (NYSE:COOK) has received an average recommendation of “Hold” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $50.50.

A number of research analysts recently commented on COOK shares. Telsey Advisory Group boosted their price objective on shares of Traeger from $45.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, August 6th. B. Riley Financial reiterated a “neutral” rating on shares of Traeger in a report on Friday, August 7th. Canaccord Genuity Group set a $77.00 target price on shares of Traeger and gave the company a “buy” rating in a research note on Thursday, August 6th. Zacks Research cut Traeger from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Traeger in a research note on Friday, September 4th.

Insider Buying and Selling at Traeger

In other news, insider Cole VandenAkker sold 2,750 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $55.30, for a total value of $152,075.00. Following the sale, the insider owned 23,913 shares in the company, valued at approximately $1,322,388.90. This trade represents a 10.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 16.20% of the company’s stock.

Institutional Investors Weigh In On Traeger

A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp acquired a new position in Traeger in the second quarter valued at about $444,000. Caz Investments LP bought a new position in shares of Traeger in the second quarter worth about $47,000. RFP Financial Group LLC bought a new position in shares of Traeger in the fourth quarter worth about $27,000. Finally, MYDA Advisors LLC acquired a new position in shares of Traeger during the fourth quarter worth approximately $173,000. 46.84% of the stock is owned by institutional investors and hedge funds.

Traeger Stock Performance

Shares of COOK stock opened at $53.55 on Friday. Traeger has a 1-year low of $20.91 and a 1-year high of $86.59. The company has a current ratio of 3.49, a quick ratio of 2.29 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $149.94 million, a price-to-earnings ratio of -1.27 and a beta of 1.93. The stock’s fifty day simple moving average is $54.42 and its 200-day simple moving average is $53.57.

Traeger (NYSE:COOK) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.57) by $2.10. Traeger had a negative return on equity of 13.76% and a negative net margin of 23.23%.The firm had revenue of $120.16 million during the quarter, compared to the consensus estimate of $133.20 million. On average, sell-side analysts predict that Traeger will post -0.3 earnings per share for the current fiscal year.

Traeger Company Profile

Traeger, Inc is a consumer-products company focused on wood-fired outdoor cooking. Its product portfolio includes wood pellet grills and smokers, portable grills, grill accessories, replacement parts, and related outdoor-cooking equipment. The company also sells wood pellets, sauces, rubs, seasonings, and other consumable products designed for use with its cooking systems.

Traeger markets its products through specialty retailers, mass merchants, e-commerce channels, and its own direct-to-consumer platform.