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

Traeger, Inc. (NYSE:COOK) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $3.30.

Several equities analysts have weighed in on the company. Piper Sandler raised Traeger from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Telsey Advisory Group reissued an “outperform” rating and set a $4.00 price objective on shares of Traeger in a research report on Wednesday, August 7th. Royal Bank of Canada boosted their price objective on Traeger from $2.00 to $2.50 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th. Finally, Robert W. Baird boosted their price objective on Traeger from $2.50 to $3.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th.

Traeger Stock Performance

NYSE COOK opened at $3.59 on Monday. The company has a market cap of $462.64 million, a P/E ratio of -5.44 and a beta of 1.15. 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 stock has a 50-day moving average of $2.65 and a two-hundred day moving average of $2.42. Traeger has a 1-year low of $1.97 and a 1-year high of $4.61.

Traeger (NYSE:COOK) last released its earnings results on Tuesday, August 6th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.02. The company had revenue of $168.47 million during the quarter, compared to the consensus estimate of $168.07 million. Traeger had a negative return on equity of 12.65% and a negative net margin of 8.50%. Traeger’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.23) EPS. As a group, analysts anticipate that Traeger will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Traeger

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. acquired a new position in Traeger in the fourth quarter valued at approximately $28,000. SG Americas Securities LLC acquired a new position in Traeger in the first quarter valued at approximately $27,000. AQR Capital Management LLC acquired a new position in Traeger in the second quarter valued at approximately $52,000. Norden Group LLC acquired a new position in Traeger in the first quarter valued at approximately $59,000. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in Traeger by 96.3% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 28,643 shares of the company’s stock valued at $78,000 after purchasing an additional 14,054 shares in the last quarter. 46.84% of the stock is 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.