Traeger (NYSE:COOK) Stock Rating Lowered by Zacks Research

Traeger (NYSE:COOK) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

A number of other research firms also recently weighed in on COOK. Canaccord Genuity Group set a $77.00 price target on shares of Traeger and gave the stock a “buy” rating in a research note on Thursday. Weiss Ratings raised Traeger from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 8th. Royal Bank Of Canada reissued a “sector perform” rating and set a $43.00 target price (up from $37.50) on shares of Traeger in a research report on Friday. Piper Sandler reiterated a “neutral” rating and set a $38.00 price target on shares of Traeger in a report on Tuesday, May 12th. Finally, Robert W. Baird set a $40.00 target price on shares of Traeger in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Traeger has a consensus rating of “Hold” and an average target price of $50.50.

Traeger Stock Performance

COOK stock opened at $61.93 on Thursday. The firm has a 50 day simple moving average of $68.11 and a 200 day simple moving average of $51.11. Traeger has a 52 week low of $20.91 and a 52 week high of $86.59. The stock has a market cap of $172.18 million, a P/E ratio of -1.47 and a beta of 1.97. The company has a debt-to-equity ratio of 2.29, a quick ratio of 2.01 and a current ratio of 3.40.

Traeger (NYSE:COOK) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of ($1.57) by $2.10. Traeger had a negative net margin of 23.23% and a negative return on equity of 13.56%. The firm had revenue of $120.16 million for the quarter, compared to analyst estimates of $133.20 million. Research analysts anticipate that Traeger will post -2.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Traeger

A number of large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in shares of Traeger by 9,116.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,368,133 shares of the company’s stock valued at $2,889,000 after purchasing an additional 2,342,438 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Traeger by 100.0% during 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. FreeGulliver LLC bought a new stake in Traeger in the fourth quarter valued at about $248,000. Bridgeway Capital Management LLC increased its holdings in Traeger by 27.1% in the third quarter. Bridgeway Capital Management LLC now owns 866,761 shares of the company’s stock valued at $1,057,000 after purchasing an additional 185,014 shares during the last quarter. Finally, MYDA Advisors LLC acquired a new position in Traeger in the fourth quarter valued at about $173,000. 46.84% of the stock is currently owned by institutional investors and hedge funds.

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.