Traeger (NYSE:COOK) Announces Earnings Results

Traeger (NYSE:COOK – Get Rating) announced its quarterly earnings results on Wednesday. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.08, MarketWatch Earnings reports. Traeger had a negative net margin of 17.60% and a negative return on equity of 10.67%. Traeger updated its FY 2022 guidance to EPS.

COOK stock opened at $5.74 on Friday. The company has a current ratio of 1.62, a quick ratio of 0.75 and a debt-to-equity ratio of 0.62. Traeger has a 1-year low of $4.25 and a 1-year high of $32.59. The firm has a fifty day moving average price of $7.31 and a two-hundred day moving average price of $10.82.

COOK has been the topic of a number of recent research reports. Telsey Advisory Group reduced their price target on shares of Traeger from $28.00 to $20.00 and set an “outperform” rating on the stock in a research report on Monday, March 21st. Piper Sandler reduced their target price on shares of Traeger from $10.00 to $7.00 in a research report on Thursday. BMO Capital Markets reduced their target price on shares of Traeger from $23.00 to $16.00 and set an “outperform” rating on the stock in a research report on Thursday, March 24th. Zacks Investment Research upgraded shares of Traeger from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Credit Suisse Group dropped their price target on shares of Traeger from $14.00 to $11.00 and set an “outperform” rating for the company in a research note on Thursday, March 24th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $12.72.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Traeger by 27.2% during the first quarter. Vanguard Group Inc. now owns 2,682,974 shares of the company’s stock valued at $19,962,000 after purchasing an additional 574,500 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Traeger by 17.2% during the first quarter. BlackRock Inc. now owns 1,774,890 shares of the company’s stock valued at $13,204,000 after acquiring an additional 260,933 shares during the period. State Street Corp boosted its holdings in shares of Traeger by 26.0% during the fourth quarter. State Street Corp now owns 385,919 shares of the company’s stock valued at $4,693,000 after acquiring an additional 79,640 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Traeger by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 365,311 shares of the company’s stock valued at $4,442,000 after acquiring an additional 5,509 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Traeger by 232.4% during the first quarter. Renaissance Technologies LLC now owns 267,900 shares of the company’s stock valued at $1,993,000 after acquiring an additional 187,300 shares during the period. Hedge funds and other institutional investors own 59.28% of the company’s stock.

About Traeger (Get Rating)

Traeger, Inc, together with its subsidiaries, designs, sources, sells, and supports wood pellet fueled barbeque 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.

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