Traeger (NYSE:COOK) Upgraded at Zacks Research

Zacks Research upgraded shares of Traeger (NYSE:COOK) from a strong sell rating to a hold rating in a report published on Tuesday morning,Zacks.com reports.

A number of other analysts have also issued reports on COOK. Wall Street Zen upgraded Traeger from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Telsey Advisory Group reduced their target price on Traeger from $1.75 to $1.50 and set a “market perform” rating for the company in a report on Thursday, November 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Traeger in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $2.09.

Traeger Stock Down 9.3%

COOK opened at $0.98 on Tuesday. The company has a 50 day moving average of $1.02 and a 200 day moving average of $1.15. The company has a market cap of $134.44 million, a PE ratio of -1.24 and a beta of 1.38. Traeger has a 12 month low of $0.71 and a 12 month high of $2.52. The company has a current ratio of 2.96, a quick ratio of 1.39 and a debt-to-equity ratio of 2.15.

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

Institutional Investors Weigh In On Traeger

Hedge funds have recently bought and sold shares of the stock. Drive Wealth Management LLC purchased a new stake in shares of Traeger during the 2nd quarter valued at $389,000. JPMorgan Chase & Co. grew its position in Traeger by 9,116.3% in the third quarter. JPMorgan Chase & Co. now owns 2,368,133 shares of the company’s stock worth $2,889,000 after acquiring an additional 2,342,438 shares in the last quarter. Lido Advisors LLC bought a new position in Traeger in the third quarter valued at $27,000. Diversify Wealth Management LLC raised its position in Traeger by 9.8% during the third quarter. Diversify Wealth Management LLC now owns 125,755 shares of the company’s stock valued at $153,000 after purchasing an additional 11,194 shares in the last quarter. Finally, Evergreen Capital Management LLC purchased a new stake in Traeger during the second quarter valued at about $93,000. 46.84% of the stock is currently owned by institutional investors.

Traeger Company Profile

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.