Traeger (NYSE:COOK) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Traeger (NYSE:COOK) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Several other analysts have also recently commented on COOK. Telsey Advisory Group raised their price target on Traeger from $43.00 to $45.00 and gave the company a “market perform” rating in a report on Tuesday, May 12th. Piper Sandler reaffirmed a “neutral” rating and set a $38.00 price objective on shares of Traeger in a report on Tuesday, May 12th. Canaccord Genuity Group cut their price objective on Traeger from $100.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Weiss Ratings raised Traeger from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 8th. Finally, B. Riley Financial restated a “neutral” rating and set a $40.00 target price (up from $30.00) on shares of Traeger in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $50.08.

Traeger Trading Up 3.5%

NYSE COOK opened at $71.16 on Wednesday. The company has a quick ratio of 2.01, a current ratio of 3.40 and a debt-to-equity ratio of 2.29. The stock has a market capitalization of $197.82 million, a P/E ratio of -1.70 and a beta of 1.95. Traeger has a 52-week low of $20.91 and a 52-week high of $104.00. The firm has a 50-day moving average price of $61.58 and a 200 day moving average price of $49.01.

Traeger (NYSE:COOK) last announced its quarterly earnings data on Monday, May 11th. The company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($3.36) by $4.85. Traeger had a negative return on equity of 13.76% and a negative net margin of 21.84%.The company had revenue of $94.07 million for the quarter, compared to analyst estimates of $95.05 million. Equities research analysts expect that Traeger will post -2.29 EPS for the current year.

Institutional Investors Weigh In On Traeger

A number of institutional investors and hedge funds have recently modified their holdings of the company. Lido Advisors LLC acquired a new position in Traeger during the third quarter worth $27,000. RFP Financial Group LLC purchased a new position in shares of Traeger in the fourth quarter valued at $27,000. Caz Investments LP raised its stake in shares of Traeger by 100.0% during the 4th quarter. Caz Investments LP now owns 40,000 shares of the company’s stock worth $43,000 after buying an additional 20,000 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Traeger in the 2nd quarter worth about $57,000. Finally, Bank of America Corp DE boosted 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 worth $80,000 after buying an additional 8,933 shares in the last quarter. Institutional investors and hedge funds 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.