Traeger, Inc. (NYSE:COOK) Receives Consensus Recommendation of “Hold” from Brokerages

Traeger, Inc. (NYSE:COOK) has been given an average rating of “Hold” by the five research firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $4.10.

Several analysts have recently commented on the stock. Royal Bank of Canada upped their price objective on shares of Traeger from $2.50 to $2.75 and gave the company a “sector perform” 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 report on Thursday, November 7th. Canaccord Genuity Group boosted their price objective on Traeger from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Piper Sandler raised their target price on Traeger from $3.50 to $3.75 and gave the stock a “neutral” rating in a report on Thursday, November 7th.

Traeger Price Performance

NYSE COOK opened at $3.01 on Wednesday. The company has a market cap of $393.11 million, a price-to-earnings ratio of -7.53 and a beta of 1.25. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.09 and a quick ratio of 1.08. The stock’s fifty day moving average price is $3.13 and its 200 day moving average price is $2.97. Traeger has a 1 year low of $1.97 and a 1 year high of $3.97.

Traeger (NYSE:COOK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). Traeger had a negative return on equity of 10.57% and a negative net margin of 8.53%. The business 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 company earned ($0.16) earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. As a group, equities research analysts forecast that Traeger will post -0.12 earnings per share for the current year.

Institutional Investors Weigh In On Traeger

A number of institutional investors have recently modified their holdings of the business. Barclays PLC raised its holdings in Traeger by 271.7% in the 3rd quarter. Barclays PLC now owns 44,861 shares of the company’s stock worth $166,000 after purchasing an additional 32,793 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Traeger by 70.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,883 shares of the company’s stock worth $62,000 after buying an additional 7,006 shares during the period. XTX Topco Ltd purchased a new position in shares of Traeger during the 3rd quarter valued at approximately $118,000. State Street Corp grew its stake in Traeger by 2.4% in the 3rd quarter. State Street Corp now owns 789,912 shares of the company’s stock valued at $2,907,000 after acquiring an additional 18,671 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in Traeger during the third quarter worth $50,000. 46.84% of the stock is currently owned by institutional investors and hedge funds.

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.