Traeger, Inc. (NYSE:COOK) Given Average Rating of “Moderate Buy” by Brokerages

Traeger, Inc. (NYSE:COOK) has been given an average recommendation of “Moderate Buy” by the seven analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $3.30.

COOK has been the subject of several recent analyst reports. Piper Sandler upgraded shares of Traeger from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Telsey Advisory Group reiterated an “outperform” rating and issued a $4.00 target price on shares of Traeger in a research note on Wednesday, August 7th. Royal Bank of Canada raised their target price on shares of Traeger from $2.00 to $2.50 and gave the company a “sector perform” rating in a research note on Thursday, August 8th. Finally, Robert W. Baird raised their target price on shares of Traeger from $2.50 to $3.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th.

Institutional Investors Weigh In On Traeger

Several hedge funds have recently bought and sold shares of the stock. Capital World Investors lifted its position in Traeger by 4.9% during the fourth quarter. Capital World Investors now owns 6,499,660 shares of the company’s stock worth $17,744,000 after acquiring an additional 304,660 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Traeger by 56.3% during the second quarter. Dimensional Fund Advisors LP now owns 201,562 shares of the company’s stock worth $484,000 after purchasing an additional 72,637 shares during the period. Panagora Asset Management Inc. increased its holdings in shares of Traeger by 19.4% during the second quarter. Panagora Asset Management Inc. now owns 182,484 shares of the company’s stock worth $438,000 after purchasing an additional 29,694 shares during the period. Renaissance Technologies LLC bought a new position in shares of Traeger during the second quarter worth approximately $345,000. Finally, Empowered Funds LLC increased its holdings in shares of Traeger by 398.0% during the first quarter. Empowered Funds LLC now owns 128,493 shares of the company’s stock worth $325,000 after purchasing an additional 102,689 shares during the period. 46.84% of the stock is currently owned by institutional investors and hedge funds.

Traeger Trading Down 2.7 %

Traeger stock opened at $3.58 on Friday. The firm has a 50-day moving average of $3.19 and a 200-day moving average of $2.63. Traeger has a one year low of $1.97 and a one year high of $3.97. The company has a debt-to-equity ratio of 1.34, a current ratio of 2.04 and a quick ratio of 1.21. The company has a market cap of $461.35 million, a price-to-earnings ratio of -5.42 and a beta of 1.23.

Traeger (NYSE:COOK) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. Traeger had a negative net margin of 8.50% and a negative return on equity of 12.65%. The company had revenue of $168.47 million during the quarter, compared to the consensus estimate of $168.07 million. During the same period in the prior year, the business posted ($0.23) EPS. The company’s quarterly revenue was down 1.8% on a year-over-year basis. On average, equities analysts expect that Traeger will post -0.12 earnings per share for the current fiscal year.

About Traeger

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.