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

Traeger, Inc. (NYSE:COOK) has received a consensus rating of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $4.00.

Several equities research analysts have issued reports on COOK shares. Royal Bank of Canada increased their price target on Traeger from $2.50 to $2.75 and gave the stock a “sector perform” rating in a report on Thursday, November 7th. Telsey Advisory Group restated an “outperform” rating and issued a $4.00 price target on shares of Traeger in a report on Thursday, November 7th. Piper Sandler increased their price target on Traeger from $3.50 to $3.75 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Canaccord Genuity Group increased their price target on Traeger from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. grew its holdings in shares of Traeger by 724.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 258,058 shares of the company’s stock worth $950,000 after buying an additional 226,750 shares in the last quarter. Empowered Funds LLC boosted its position in Traeger by 5.3% during the third quarter. Empowered Funds LLC now owns 145,763 shares of the company’s stock valued at $536,000 after purchasing an additional 7,370 shares during the last quarter. AQR Capital Management LLC acquired a new position in Traeger during the second quarter valued at approximately $52,000. Panagora Asset Management Inc. boosted its position in Traeger by 19.4% during the second quarter. Panagora Asset Management Inc. now owns 182,484 shares of the company’s stock valued at $438,000 after purchasing an additional 29,694 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its position in Traeger by 712.1% during the second quarter. Squarepoint Ops LLC now owns 85,713 shares of the company’s stock valued at $206,000 after purchasing an additional 75,159 shares during the last quarter. 46.84% of the stock is currently owned by institutional investors.

Traeger Trading Down 1.3 %

NYSE:COOK opened at $3.08 on Wednesday. Traeger has a 1-year low of $1.97 and a 1-year high of $3.97. The business’s 50-day moving average price is $3.17 and its two-hundred day moving average price is $2.95. The company has a current ratio of 2.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $402.25 million, a price-to-earnings ratio of -7.70 and a beta of 1.25.

Traeger (NYSE:COOK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). Traeger had a negative return on equity of 10.57% and a negative net margin of 8.53%. The company had revenue of $122.05 million during the quarter, compared to the consensus estimate of $118.74 million. During the same period in the prior year, the company earned ($0.16) earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities analysts expect that Traeger will post -0.12 earnings per share for the current 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.