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

Traeger, Inc. (NYSE:COOK - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $4.00.

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

Institutional Trading of Traeger

Institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC boosted its holdings in shares of Traeger by 398.0% during the 1st quarter. Empowered Funds LLC now owns 128,493 shares of the company's stock valued at $325,000 after buying an additional 102,689 shares in the last quarter. AQR Capital Management LLC bought a new stake in Traeger during the second quarter worth about $52,000. Panagora Asset Management Inc. grew its holdings in Traeger by 19.4% in the second quarter. Panagora Asset Management Inc. now owns 182,484 shares of the company's stock worth $438,000 after purchasing an additional 29,694 shares during the period. SG Americas Securities LLC bought a new position in shares of Traeger during the first quarter valued at approximately $27,000. Finally, Squarepoint Ops LLC lifted its holdings in shares of Traeger by 712.1% during the second quarter. Squarepoint Ops LLC now owns 85,713 shares of the company's stock valued at $206,000 after purchasing an additional 75,159 shares during the last quarter. 46.84% of the stock is currently owned by hedge funds and other institutional investors.

Traeger Trading Up 0.7 %

Shares of NYSE:COOK traded up $0.02 on Friday, reaching $2.97. 110,735 shares of the company traded hands, compared to its average volume of 266,404. The stock has a market capitalization of $387.89 million, a P/E ratio of -7.43 and a beta of 1.25. The business's 50-day simple moving average is $3.32 and its 200 day simple moving average is $2.84. The company has a current ratio of 2.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.42. Traeger has a 52 week low of $1.97 and a 52 week high of $3.97.

Traeger (NYSE:COOK - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate 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 last year, the company earned ($0.16) EPS. Traeger's revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities analysts anticipate that Traeger will post -0.12 EPS 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.