Zacks: Analysts Expect Traeger, Inc. (NYSE:COOK) Will Announce Earnings of $0.09 Per Share

Equities research analysts expect that Traeger, Inc. (NYSE:COOK – Get Rating) will announce earnings of $0.09 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Traeger’s earnings, with the lowest EPS estimate coming in at $0.05 and the highest estimate coming in at $0.12. The firm is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Traeger will report full year earnings of $0.15 per share for the current fiscal year, with EPS estimates ranging from $0.03 to $0.22. For the next fiscal year, analysts expect that the business will post earnings of $0.45 per share, with EPS estimates ranging from $0.36 to $0.67. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Traeger.

Traeger (NYSE:COOK – Get Rating) last released its earnings results on Wednesday, March 23rd. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.14). The company had revenue of $174.93 million for the quarter, compared to analyst estimates of $156.80 million. Traeger had a negative return on equity of 4.89% and a negative net margin of 11.31%. Traeger’s revenue for the quarter was up 30.8% on a year-over-year basis.

Several research firms have recently issued reports on COOK. Stifel Nicolaus lowered Traeger from a “buy” rating to a “hold” rating and reduced their target price for the stock from $26.00 to $7.50 in a report on Thursday, March 24th. Zacks Investment Research downgraded Traeger from a “hold” rating to a “sell” rating in a research report on Wednesday, March 30th. Telsey Advisory Group dropped their target price on Traeger from $28.00 to $20.00 and set an “outperform” rating for the company in a research report on Monday, March 21st. Jefferies Financial Group downgraded Traeger from a “buy” rating to a “hold” rating and dropped their target price for the company from $25.00 to $7.00 in a research report on Thursday, March 24th. Finally, Credit Suisse Group dropped their target price on Traeger from $14.00 to $11.00 and set an “outperform” rating for the company in a research report on Thursday, March 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Traeger has a consensus rating of “Buy” and an average price target of $14.83.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ontario Teachers Pension Plan Board acquired a new stake in Traeger in the third quarter valued at approximately $516,826,000. Capital World Investors lifted its holdings in shares of Traeger by 9.0% in the fourth quarter. Capital World Investors now owns 4,702,640 shares of the company’s stock valued at $57,184,000 after purchasing an additional 388,470 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Traeger by 20.9% in the fourth quarter. Nuveen Asset Management LLC now owns 2,942,401 shares of the company’s stock valued at $35,780,000 after purchasing an additional 508,446 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Traeger by 11.9% in the fourth quarter. BlackRock Inc. now owns 1,513,957 shares of the company’s stock valued at $18,411,000 after purchasing an additional 160,455 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of Traeger in the third quarter valued at approximately $24,729,000. 45.00% of the stock is owned by institutional investors and hedge funds.

Shares of COOK traded down $0.09 during trading hours on Monday, hitting $7.21. 13,334 shares of the company were exchanged, compared to its average volume of 1,099,574. Traeger has a fifty-two week low of $6.82 and a fifty-two week high of $32.59. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.75 and a current ratio of 1.62. The firm’s fifty day moving average is $8.69 and its 200 day moving average is $12.67.

Traeger Company Profile (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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