Traeger (NYSE:COOK) Trading Up 3.1%

Traeger, Inc. (NYSE:COOK)’s stock price was up 3.1% during mid-day trading on Tuesday . The stock traded as high as $2.22 and last traded at $2.14. Approximately 249,636 shares traded hands during trading, a decline of 22% from the average daily volume of 320,252 shares. The stock had previously closed at $2.07.

Analyst Upgrades and Downgrades

COOK has been the topic of a number of analyst reports. Canaccord Genuity Group cut their price target on Traeger from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, March 6th. Telsey Advisory Group reissued an “outperform” rating and issued a $4.50 price target (down previously from $5.00) on shares of Traeger in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.47.

Traeger Stock Performance

The stock has a fifty day simple moving average of $2.26 and a 200-day simple moving average of $2.40. The stock has a market cap of $273.15 million, a P/E ratio of -3.88 and a beta of 1.04. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.90 and a current ratio of 1.62.

Traeger (NYSE:COOK) last released its earnings results on Thursday, March 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.04). The firm had revenue of $163.48 million for the quarter, compared to the consensus estimate of $153.10 million. Traeger had a negative return on equity of 20.91% and a negative net margin of 11.26%. On average, equities analysts expect that Traeger, Inc. will post -0.15 earnings per share for the current year.

Institutional Investors Weigh In On Traeger

Hedge funds have recently bought and sold shares of the company. Glendon Capital Management LP acquired a new stake in Traeger in the 3rd quarter valued at about $983,000. Swiss National Bank lifted its stake in Traeger by 14.4% in the 3rd quarter. Swiss National Bank now owns 136,200 shares of the company’s stock valued at $372,000 after purchasing an additional 17,100 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Traeger by 5.0% during the third quarter. Bank of New York Mellon Corp now owns 121,540 shares of the company’s stock worth $332,000 after acquiring an additional 5,752 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in Traeger during the third quarter worth approximately $326,000. Finally, Blair William & Co. IL lifted its position in Traeger by 11.6% during the third quarter. Blair William & Co. IL now owns 98,447 shares of the company’s stock worth $269,000 after acquiring an additional 10,260 shares during the last quarter. 46.84% of the stock is currently owned by institutional investors and hedge funds.

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.