Traeger, Inc. (NYSE:COOK) Receives Average Recommendation of “Hold” from Analysts

Traeger, Inc. (NYSE:COOK) has earned an average recommendation of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $50.50.

A number of analysts recently issued reports on the company. Canaccord Genuity Group set a $77.00 price objective on Traeger and gave the stock a “buy” rating in a report on Thursday, August 6th. Piper Sandler reaffirmed a “neutral” rating and set a $38.00 target price on shares of Traeger in a report on Tuesday, May 12th. Robert W. Baird set a $40.00 price target on Traeger in a research report on Tuesday, May 12th. Telsey Advisory Group increased their price target on shares of Traeger from $45.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. Finally, Wall Street Zen upgraded shares of Traeger from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th.

Institutional Trading of Traeger

Several institutional investors and hedge funds have recently bought and sold shares of COOK. Empowered Funds LLC boosted its holdings in Traeger by 9.2% in the 4th quarter. Empowered Funds LLC now owns 227,741 shares of the company’s stock valued at $246,000 after purchasing an additional 19,280 shares during the period. Artisan Partners Limited Partnership increased its holdings in shares of Traeger by 100.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,000,000 shares of the company’s stock worth $2,160,000 after purchasing an additional 1,000,000 shares during the period. Blair William & Co. IL raised its position in shares of Traeger by 19.9% in the fourth quarter. Blair William & Co. IL now owns 92,680 shares of the company’s stock worth $100,000 after buying an additional 15,400 shares in the last quarter. RFP Financial Group LLC purchased a new stake in shares of Traeger in the fourth quarter worth $27,000. Finally, MYDA Advisors LLC bought a new stake in Traeger during the fourth quarter valued at $173,000. 46.84% of the stock is currently owned by hedge funds and other institutional investors.

Traeger Trading Down 2.5%

Shares of COOK stock opened at $59.73 on Friday. The stock has a market capitalization of $167.25 million, a price-to-earnings ratio of -1.42 and a beta of 1.97. The company’s fifty day simple moving average is $67.69 and its two-hundred day simple moving average is $51.26. Traeger has a 1 year low of $20.91 and a 1 year high of $86.59. The company has a debt-to-equity ratio of 2.39, a current ratio of 3.49 and a quick ratio of 2.29.

Traeger (NYSE:COOK) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of ($1.57) by $2.10. The firm had revenue of $120.16 million during the quarter, compared to analyst estimates of $133.20 million. Traeger had a negative return on equity of 13.76% and a negative net margin of 23.23%. As a group, analysts anticipate that Traeger will post -2.29 earnings per share for the current year.

About Traeger

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.