Traeger, Inc. (NYSE:COOK) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Traeger, Inc. (NYSE:COOK - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six ratings firms that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $4.00.

COOK has been the topic of a number of recent research reports. Royal Bank of Canada boosted their price target 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. Canaccord Genuity Group upped their target price on shares of Traeger from $6.00 to $7.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Piper Sandler raised their price target on shares of Traeger from $3.50 to $3.75 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and set a $4.00 price objective on shares of Traeger in a research report on Thursday, November 7th.

Hedge Funds Weigh In On Traeger

Institutional investors and hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio boosted its stake in Traeger by 70.9% in the third quarter. Public Employees Retirement System of Ohio now owns 16,883 shares of the company's stock valued at $62,000 after acquiring an additional 7,006 shares in the last quarter. Empowered Funds LLC raised its position in Traeger by 5.3% in the third quarter. Empowered Funds LLC now owns 145,763 shares of the company's stock worth $536,000 after acquiring an additional 7,370 shares in the last quarter. Diversify Wealth Management LLC increased its holdings in shares of Traeger by 5.4% in the 3rd quarter. Diversify Wealth Management LLC now owns 164,547 shares of the company's stock valued at $606,000 after purchasing an additional 8,499 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Traeger during the 3rd quarter worth approximately $50,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Traeger in the 3rd quarter worth approximately $51,000. Institutional investors and hedge funds own 46.84% of the company's stock.

Traeger Trading Down 1.0 %

NYSE COOK traded down $0.03 on Wednesday, reaching $3.05. 143,184 shares of the company were exchanged, compared to its average volume of 259,287. The company has a current ratio of 2.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.42. The business's fifty day moving average price is $3.17 and its 200 day moving average price is $2.95. The stock has a market capitalization of $398.34 million, a P/E ratio of -7.70 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 - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.06) EPS for the quarter, meeting analysts' consensus estimates of ($0.06). The firm had revenue of $122.05 million for the quarter, compared to analysts' expectations of $118.74 million. Traeger had a negative return on equity of 10.57% and a negative net margin of 8.53%. The firm's quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.16) earnings per share. Analysts forecast that Traeger will post -0.12 earnings per share for the current 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.