Zacks Research Downgrades Traeger (NYSE:COOK) to Strong Sell

Traeger (NYSE:COOK) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of Traeger from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Traeger in a report on Monday, December 29th. Finally, Telsey Advisory Group dropped their price objective on Traeger from $1.75 to $1.50 and set a “market perform” rating on the stock in a research report on Thursday, November 6th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Traeger currently has an average rating of “Reduce” and a consensus price target of $2.09.

Traeger Stock Performance

Shares of Traeger stock opened at $0.93 on Monday. Traeger has a 12 month low of $0.71 and a 12 month high of $2.70. The firm has a market capitalization of $127.03 million, a P/E ratio of -1.17 and a beta of 1.38. The company has a current ratio of 2.96, a quick ratio of 1.39 and a debt-to-equity ratio of 2.15. The business has a fifty day simple moving average of $0.94 and a two-hundred day simple moving average of $1.27.

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

Institutional Investors Weigh In On Traeger

A number of hedge funds have recently modified their holdings of COOK. Norden Group LLC increased its holdings in shares of Traeger by 27.2% during the second quarter. Norden Group LLC now owns 23,350 shares of the company’s stock valued at $40,000 after acquiring an additional 5,000 shares in the last quarter. Bank of America Corp DE increased its position in shares of Traeger by 36.6% in the 4th quarter. Bank of America Corp DE now owns 33,314 shares of the company’s stock valued at $80,000 after acquiring an additional 8,933 shares during the period. Diversify Wealth Management LLC raised its stake in Traeger by 9.8% in the 3rd quarter. Diversify Wealth Management LLC now owns 125,755 shares of the company’s stock worth $153,000 after acquiring an additional 11,194 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Traeger by 9.3% during the first quarter. Empowered Funds LLC now owns 167,696 shares of the company’s stock worth $282,000 after purchasing an additional 14,271 shares during the period. Finally, Bridgeway Capital Management LLC boosted its position in Traeger by 2.5% in the second quarter. Bridgeway Capital Management LLC now owns 681,747 shares of the company’s stock valued at $1,166,000 after buying an additional 16,751 shares during the last quarter. Institutional investors own 46.84% of the company’s stock.

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.