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

Shares of Traeger, Inc. (NYSE:COOK) have been given a consensus recommendation of “Hold” by the five analysts that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $4.10.

COOK has been the subject of a number of recent analyst reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $4.00 price target on shares of Traeger in a report on Thursday, November 7th. Royal Bank of Canada raised their target price on Traeger from $2.50 to $2.75 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Canaccord Genuity Group upped their target price on shares of Traeger from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Piper Sandler raised their price target on Traeger from $3.50 to $3.75 and gave the company a “neutral” rating in a report on Thursday, November 7th.

Traeger Trading Down 0.7 %

Shares of COOK stock opened at $3.03 on Wednesday. The firm has a market capitalization of $395.72 million, a P/E ratio of -7.58 and a beta of 1.25. Traeger has a 1 year low of $1.97 and a 1 year high of $3.97. The firm’s fifty day simple moving average is $3.14 and its 200 day simple moving average is $2.96. The company has a current ratio of 2.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.42.

Traeger (NYSE:COOK) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). Traeger had a negative return on equity of 10.57% and a negative net margin of 8.53%. The business had revenue of $122.05 million for the quarter, compared to analysts’ expectations of $118.74 million. During the same period in the previous year, the business posted ($0.16) earnings per share. Traeger’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts predict that Traeger will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Traeger

Several hedge funds have recently bought and sold shares of COOK. Barclays PLC increased its holdings in shares of Traeger by 271.7% in the third quarter. Barclays PLC now owns 44,861 shares of the company’s stock worth $166,000 after acquiring an additional 32,793 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Traeger by 70.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,883 shares of the company’s stock valued at $62,000 after acquiring an additional 7,006 shares in the last quarter. XTX Topco Ltd bought a new stake in Traeger in the 3rd quarter valued at $118,000. State Street Corp boosted its stake in Traeger by 2.4% in the 3rd quarter. State Street Corp now owns 789,912 shares of the company’s stock worth $2,907,000 after purchasing an additional 18,671 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in shares of Traeger in the 3rd quarter valued at about $50,000. 46.84% of the stock is currently owned by institutional investors and hedge funds.

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.