Traeger, Inc. (NYSE:COOK) Receives $2.09 Consensus Target Price from Analysts

Shares of Traeger, Inc. (NYSE:COOK) have been assigned a consensus recommendation of “Reduce” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $2.0938.

A number of equities analysts have commented on the stock. Telsey Advisory Group reduced their price target on shares of Traeger from $1.75 to $1.50 and set a “market perform” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Traeger in a report on Monday, December 1st. Wall Street Zen upgraded Traeger from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, B. Riley downgraded Traeger from a “buy” rating to a “neutral” rating and cut their price objective for the company from $3.00 to $1.50 in a research report on Wednesday, August 13th.

Traeger Price Performance

Shares of COOK stock opened at $0.92 on Friday. The company has a debt-to-equity ratio of 2.15, a current ratio of 2.96 and a quick ratio of 1.39. The stock’s fifty day simple moving average is $0.94 and its 200 day simple moving average is $1.35. Traeger has a one year low of $0.71 and a one year high of $3.14. The firm has a market cap of $125.52 million, a price-to-earnings ratio of -1.16 and a beta of 1.41.

Traeger (NYSE:COOK) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.14). Traeger had a negative net margin of 18.01% and a negative return on equity of 11.31%. The company had revenue of $125.40 million for the quarter, compared to the consensus estimate of $111.04 million. On average, analysts expect that Traeger will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lido Advisors LLC bought a new stake in Traeger during the 3rd quarter worth about $27,000. Norden Group LLC raised its stake in shares of Traeger by 27.2% in the second quarter. Norden Group LLC now owns 23,350 shares of the company’s stock worth $40,000 after acquiring an additional 5,000 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Traeger during the second quarter worth approximately $57,000. Bank of America Corp DE grew its stake in shares of Traeger by 36.6% during the fourth quarter. Bank of America Corp DE now owns 33,314 shares of the company’s stock valued at $80,000 after purchasing an additional 8,933 shares during the last quarter. Finally, Evergreen Capital Management LLC bought a new stake in shares of Traeger during the second quarter valued at approximately $93,000. Institutional investors and hedge funds own 46.84% of the company’s stock.

Traeger Company Profile

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.