Traeger (NYSE:COOK) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Traeger, Inc. (NYSE:COOK) shares crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $51.02 and traded as high as $52.26. Traeger shares last traded at $51.7490, with a volume of 165,913 shares traded.

Analyst Upgrades and Downgrades

COOK has been the topic of a number of research reports. Telsey Advisory Group raised their price target on shares of Traeger from $45.00 to $65.00 and gave the company a “market perform” rating in a research note on Thursday, August 6th. Zacks Research lowered Traeger from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Canaccord Genuity Group set a $77.00 target price on Traeger and gave the company a “buy” rating in a report on Thursday, August 6th. B. Riley Financial restated a “neutral” rating on shares of Traeger in a research report on Friday, August 7th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $43.00 price target (up from $37.50) on shares of Traeger in a research note on Friday, August 7th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $50.50.

Traeger Trading Up 0.6%

The company has a quick ratio of 2.29, a current ratio of 3.49 and a debt-to-equity ratio of 2.39. The stock has a market capitalization of $147.11 million, a price-to-earnings ratio of -1.25 and a beta of 1.93. The company’s 50-day moving average is $49.85 and its 200-day moving average is $51.04.

Traeger (NYSE:COOK) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.53 EPS for the quarter, beating 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 business had revenue of $120.16 million for the quarter, compared to analyst estimates of $133.20 million. Research analysts anticipate that Traeger, Inc. will post -0.30 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Cole VandenAkker sold 2,750 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 23,913 shares of the company’s stock, valued at approximately $1,322,388.90. This trade represents a 10.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 16.20% of the company’s stock.

Institutional Investors Weigh In On Traeger

An institutional investor recently bought a new position in Traeger stock. Caz Investments LP purchased a new position in Traeger, Inc. (NYSE:COOK) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 600 shares of the company’s stock, valued at approximately $47,000. 46.84% of the stock is owned by institutional investors and hedge funds.

About Traeger

Traeger, Inc designs, manufactures and sells outdoor cooking products under the Traeger brand. The company is best known for its wood-pellet grills, which use automated temperature controls and hardwood pellets to provide wood-fired cooking. Its product portfolio also includes gas and charcoal grills, portable grills, pizza ovens, smokers and related outdoor cooking equipment.

In addition to grills, Traeger offers wood pellets, rubs, sauces, marinades, cookware, replacement parts and other accessories.