Brokerages Set Traeger, Inc. (NYSE:COOK) Target Price at $50.08

Shares of Traeger, Inc. (NYSE:COOK) have been assigned an average rating of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $50.0833.

COOK has been the subject of several recent research reports. Piper Sandler reaffirmed a “neutral” rating and issued a $38.00 price target on shares of Traeger in a report on Tuesday, May 12th. B. Riley Financial reiterated a “neutral” rating and issued a $40.00 target price (up from $30.00) on shares of Traeger in a research note on Tuesday, May 12th. Wall Street Zen upgraded shares of Traeger from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research raised shares of Traeger from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings upgraded Traeger from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 8th.

Traeger Stock Down 4.5%

NYSE:COOK opened at $65.96 on Monday. The business’s fifty day moving average price is $66.28 and its 200 day moving average price is $50.00. The company has a current ratio of 3.40, a quick ratio of 2.01 and a debt-to-equity ratio of 2.29. The firm has a market capitalization of $183.37 million, a price-to-earnings ratio of -1.57 and a beta of 1.95. Traeger has a 1-year low of $20.91 and a 1-year high of $102.50.

Traeger (NYSE:COOK) last announced its quarterly earnings results on Monday, May 11th. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.36) by $4.85. The business had revenue of $94.07 million during the quarter, compared to analyst estimates of $95.05 million. Traeger had a negative return on equity of 13.76% and a negative net margin of 21.84%. On average, sell-side analysts forecast that Traeger will post -2.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in COOK. Bank of America Corp DE increased its holdings in shares of Traeger by 36.6% during the 4th quarter. Bank of America Corp DE now owns 33,314 shares of the company’s stock worth $80,000 after acquiring an additional 8,933 shares during the last quarter. Empowered Funds LLC boosted its position in Traeger by 9.3% during the first quarter. Empowered Funds LLC now owns 167,696 shares of the company’s stock worth $282,000 after purchasing an additional 14,271 shares during the period. XTX Topco Ltd acquired a new position in shares of Traeger in the second quarter valued at $57,000. Marshall Wace LLP raised its position in shares of Traeger by 371.7% in the second quarter. Marshall Wace LLP now owns 130,666 shares of the company’s stock valued at $223,000 after purchasing an additional 102,967 shares during the period. Finally, Diversify Wealth Management LLC raised its position in shares of Traeger by 32.8% in the second quarter. Diversify Wealth Management LLC now owns 114,561 shares of the company’s stock valued at $196,000 after purchasing an additional 28,313 shares during the period. Institutional investors and hedge funds own 46.84% of the company’s stock.

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.