Traeger (NYSE:COOK) Rating Lowered to “Hold” at Zacks Research

Traeger (NYSE:COOK) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $43.00 target price (up from $37.50) on shares of Traeger in a research note on Friday. Weiss Ratings raised shares of Traeger from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 8th. Robert W. Baird set a $40.00 price objective on shares of Traeger in a research report on Tuesday, May 12th. Canaccord Genuity Group set a $77.00 price objective on shares of Traeger and gave the company a “buy” rating in a research report on Thursday. Finally, Piper Sandler reiterated a “neutral” rating and issued a $38.00 target price on shares of Traeger in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $50.50.

Traeger Price Performance

Shares of NYSE COOK opened at $61.93 on Thursday. The stock’s 50-day simple moving average is $68.11 and its two-hundred day simple moving average is $51.11. Traeger has a twelve month low of $20.91 and a twelve month high of $86.59. The firm has a market capitalization of $172.18 million, a P/E ratio of -1.47 and a beta of 1.97. The company has a quick ratio of 2.01, a current ratio of 3.40 and a debt-to-equity ratio of 2.29.

Traeger (NYSE:COOK) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.57) by $2.10. Traeger had a negative return on equity of 13.56% 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. As a group, equities analysts anticipate that Traeger will post -2.29 EPS for the current fiscal year.

Institutional Trading of Traeger

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lido Advisors LLC purchased a new position in shares of Traeger during the 3rd quarter worth approximately $27,000. RFP Financial Group LLC bought a new stake in shares of Traeger during the fourth quarter valued at approximately $27,000. XTX Topco Ltd purchased a new stake in Traeger in the second quarter worth $57,000. Bank of America Corp DE grew its stake in Traeger by 36.6% in the fourth quarter. Bank of America Corp DE now owns 33,314 shares of the company’s stock worth $80,000 after purchasing an additional 8,933 shares during the period. Finally, Caz Investments LP raised its holdings in Traeger by 100.0% in the fourth quarter. Caz Investments LP now owns 40,000 shares of the company’s stock worth $43,000 after purchasing an additional 20,000 shares in the last quarter. 46.84% of the stock is currently owned by hedge funds and other institutional investors.

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.