Traeger (NYSE:COOK) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Traeger (NYSE:COOKGet Rating) from a sell rating to a hold rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “Traeger Inc. provides wood pellet grill. The company’s pellet grills utilize wood-fired convection power, owners can grill, smoke, bake, roast, braise and barbecue meals on one cooking system. Traeger Inc. is headquartered in Salt Lake City. “

COOK has been the subject of several other reports. Stifel Nicolaus lowered Traeger from a buy rating to a hold rating and cut their price objective for the stock from $26.00 to $7.50 in a report on Thursday, March 24th. Telsey Advisory Group cut their price objective on Traeger from $28.00 to $20.00 and set an outperform rating for the company in a report on Monday, March 21st. BMO Capital Markets cut their price objective on Traeger from $23.00 to $16.00 and set an outperform rating for the company in a report on Thursday, March 24th. Jefferies Financial Group lowered Traeger from a buy rating to a hold rating and cut their target price for the company from $25.00 to $7.00 in a report on Thursday, March 24th. Finally, Morgan Stanley cut their target price on Traeger from $26.00 to $10.00 and set an equal weight rating on the stock in a report on Thursday, March 24th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Buy and an average target price of $14.83.

COOK opened at $5.08 on Tuesday. The stock has a fifty day moving average of $7.56 and a 200-day moving average of $11.06. Traeger has a 12-month low of $4.84 and a 12-month 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.

Traeger (NYSE:COOKGet Rating) last announced its quarterly earnings data on Wednesday, March 23rd. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.14). Traeger had a negative return on equity of 4.89% and a negative net margin of 11.31%. The business had revenue of $174.93 million during the quarter, compared to analyst estimates of $156.80 million. The firm’s quarterly revenue was up 30.8% on a year-over-year basis. On average, sell-side analysts anticipate that Traeger will post -0.21 EPS for the current fiscal year.

Large investors have recently modified their holdings of the company. First Mercantile Trust Co. acquired a new stake in shares of Traeger in the third quarter valued at about $44,000. Advisor Group Holdings Inc. acquired a new stake in shares of Traeger in the third quarter valued at about $47,000. Citigroup Inc. acquired a new stake in shares of Traeger in the third quarter valued at about $55,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Traeger in the fourth quarter valued at about $46,000. Finally, Royal Bank of Canada acquired a new stake in shares of Traeger in the third quarter valued at about $134,000. 59.28% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Traeger (NYSE:COOK)

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