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

Traeger, Inc. (NYSE:COOK) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $4.00.

Several equities analysts recently issued reports on the company. Canaccord Genuity Group lifted their price objective on Traeger from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $4.00 price target on shares of Traeger in a research note on Thursday, November 7th. Robert W. Baird increased their price objective on shares of Traeger from $2.50 to $3.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Piper Sandler upped their price target on shares of Traeger from $3.50 to $3.75 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada raised their price objective on shares of Traeger from $2.50 to $2.75 and gave the stock a “sector perform” rating in a research note on Thursday, November 7th.

Hedge Funds Weigh In On Traeger

Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC purchased a new position in Traeger during the first quarter worth about $27,000. Quadrature Capital Ltd acquired a new position in shares of Traeger during the 3rd quarter valued at about $50,000. AQR Capital Management LLC purchased a new position in shares of Traeger during the 2nd quarter worth about $52,000. Public Employees Retirement System of Ohio boosted its position in shares of Traeger by 70.9% in the third quarter. Public Employees Retirement System of Ohio now owns 16,883 shares of the company’s stock worth $62,000 after acquiring an additional 7,006 shares during the last quarter. Finally, Drive Wealth Management LLC purchased a new stake in Traeger in the third quarter valued at approximately $118,000. Hedge funds and other institutional investors own 46.84% of the company’s stock.

Traeger Stock Performance

NYSE:COOK opened at $2.97 on Friday. The firm’s fifty day simple moving average is $3.32 and its 200-day simple moving average is $2.83. The company has a quick ratio of 1.08, a current ratio of 2.09 and a debt-to-equity ratio of 1.42. The stock has a market cap of $387.89 million, a PE ratio of -7.43 and a beta of 1.25. Traeger has a fifty-two week low of $1.97 and a fifty-two week high of $3.97.

Traeger (NYSE:COOK) last issued its earnings results on Wednesday, November 6th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). Traeger had a negative net margin of 8.53% and a negative return on equity of 10.57%. The company had revenue of $122.05 million for the quarter, compared to analyst estimates of $118.74 million. During the same period in the prior year, the business posted ($0.16) earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. Analysts expect that Traeger will post -0.12 earnings per share for the current fiscal year.

About Traeger

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.