Traeger, Inc. (NYSE:COOK) Receives Consensus Rating of “Reduce” from Analysts

Shares of Traeger, Inc. (NYSE:COOK) have been assigned a consensus recommendation of “Reduce” from the nine research firms that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $2.0938.

COOK has been the subject of a number of recent research reports. Zacks Research downgraded Traeger from a “hold” rating to a “strong sell” rating in a research note on Monday, January 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Traeger in a report on Monday, December 29th. Wall Street Zen raised shares of Traeger from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Telsey Advisory Group cut their price objective on shares of Traeger from $1.75 to $1.50 and set a “market perform” rating on the stock in a research report on Thursday, November 6th.

Traeger Trading Up 2.2%

Traeger stock opened at $1.17 on Monday. Traeger has a 1 year low of $0.71 and a 1 year high of $2.70. The firm’s 50-day moving average is $0.97 and its 200-day moving average is $1.20. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.39 and a current ratio of 2.96. The company has a market cap of $159.81 million, a P/E ratio of -1.47 and a beta of 1.38.

Traeger (NYSE:COOK) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.14). Traeger had a negative return on equity of 11.31% and a negative net margin of 18.01%.The business had revenue of $125.40 million for the quarter, compared to analyst estimates of $111.04 million. On average, equities analysts expect that Traeger will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On Traeger

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in Traeger by 9,116.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,368,133 shares of the company’s stock valued at $2,889,000 after acquiring an additional 2,342,438 shares during the period. Artisan Partners Limited Partnership acquired a new position in Traeger during the 3rd quarter worth $1,220,000. Fortitude Financial LLC bought a new position in shares of Traeger in the second quarter worth $422,000. Drive Wealth Management LLC grew its stake in shares of Traeger by 107.4% in the third quarter. Drive Wealth Management LLC now owns 472,150 shares of the company’s stock worth $576,000 after purchasing an additional 244,493 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in shares of Traeger by 27.1% during the third quarter. Bridgeway Capital Management LLC now owns 866,761 shares of the company’s stock valued at $1,057,000 after purchasing an additional 185,014 shares during the period. 46.84% of the stock is owned by institutional investors.

About Traeger

Traeger, trading on the NYSE under the ticker COOK, is a designer, manufacturer and marketer of wood pellet grills and outdoor cooking appliances. The company’s core product lineup features a range of hardwood-pellet grills that combine wood-fired flavor with digital temperature control. Beyond grills, Traeger offers a suite of accessories—such as grill covers, smoking woods, meat probes and recipe rubs—as well as outdoor kitchen solutions designed to serve both consumer and light-commercial segments.

Founded in 1985 by Joe Traeger, the brand pioneered the wood-pellet grilling category.