Traeger Stock Scheduled to Reverse Split on Wednesday, March 18th (NYSE:COOK)

Shares of Traeger, Inc. (NYSE:COOK) are scheduled to reverse split on Wednesday, March 18th. The 1-50 reverse split was announced on Thursday, March 12th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, March 17th.

Traeger Trading Up 10.3%

COOK opened at $0.65 on Friday. Traeger has a 12 month low of $0.48 and a 12 month high of $2.21. The stock has a market capitalization of $89.35 million, a price-to-earnings ratio of -0.75 and a beta of 1.41. The company has a debt-to-equity ratio of 2.34, a current ratio of 2.68 and a quick ratio of 1.39. The business has a fifty day moving average price of $0.92 and a 200 day moving average price of $1.02.

Traeger (NYSE:COOK) last issued its quarterly earnings results on Friday, March 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $145.36 million for the quarter, compared to analysts’ expectations of $135.05 million. Traeger had a negative return on equity of 12.01% and a negative net margin of 20.59%. Sell-side analysts expect that Traeger will post -0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

COOK has been the topic of several analyst reports. Canaccord Genuity Group reduced their target price on shares of Traeger from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Friday, March 6th. Zacks Research upgraded shares of Traeger from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. Wall Street Zen downgraded shares of Traeger from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Telsey Advisory Group reduced their price objective on shares of Traeger from $1.50 to $1.00 and set a “market perform” rating on the stock in a report on Friday, March 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Traeger in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Traeger has an average rating of “Hold” and an average target price of $1.16.

Hedge Funds Weigh In On Traeger

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lido Advisors LLC purchased a new position in Traeger in the third quarter valued at approximately $27,000. RFP Financial Group LLC purchased a new stake in shares of Traeger during the 4th quarter worth approximately $27,000. Caz Investments LP lifted its position in shares of Traeger by 100.0% during the 4th quarter. Caz Investments LP now owns 40,000 shares of the company’s stock worth $43,000 after buying an additional 20,000 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Traeger in the 2nd quarter valued at $57,000. Finally, Bank of America Corp DE boosted its holdings in shares of Traeger by 36.6% in the 4th quarter. Bank of America Corp DE now owns 33,314 shares of the company’s stock valued at $80,000 after buying an additional 8,933 shares in the last quarter. 46.84% of the stock is owned by institutional investors and hedge funds.

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.