Traeger, Inc. (NYSE:COOK) Receives $3.30 Consensus PT from Analysts

Traeger, Inc. (NYSE:COOK) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $3.30.

A number of research analysts have issued reports on COOK shares. Robert W. Baird upped their target price 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. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $4.00 price objective on shares of Traeger in a research note on Wednesday, August 7th. Piper Sandler upgraded shares of Traeger from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada raised their price target on Traeger from $2.00 to $2.50 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th.

Hedge Funds Weigh In On Traeger

Several institutional investors and hedge funds have recently made changes to their positions in COOK. SG Americas Securities LLC bought a new position in Traeger during the third quarter worth about $51,000. AQR Capital Management LLC acquired a new position in shares of Traeger during the 2nd quarter worth approximately $52,000. Squarepoint Ops LLC raised its stake in shares of Traeger by 712.1% during the 2nd quarter. Squarepoint Ops LLC now owns 85,713 shares of the company’s stock worth $206,000 after purchasing an additional 75,159 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Traeger in the 2nd quarter valued at approximately $345,000. Finally, Dimensional Fund Advisors LP increased its holdings in Traeger by 56.3% during the second quarter. Dimensional Fund Advisors LP now owns 201,562 shares of the company’s stock worth $484,000 after buying an additional 72,637 shares during the last quarter. Institutional investors and hedge funds own 46.84% of the company’s stock.

Traeger Stock Performance

Shares of Traeger stock opened at $3.44 on Friday. The firm has a 50 day simple moving average of $3.24 and a 200 day simple moving average of $2.65. Traeger has a fifty-two week low of $1.97 and a fifty-two week high of $3.97. The company has a debt-to-equity ratio of 1.34, a current ratio of 2.04 and a quick ratio of 1.21. The firm has a market cap of $443.31 million, a P/E ratio of -5.21 and a beta of 1.23.

Traeger (NYSE:COOK) last released its earnings results on Tuesday, August 6th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. Traeger had a negative return on equity of 12.65% and a negative net margin of 8.50%. The company had revenue of $168.47 million during the quarter, compared to analysts’ expectations of $168.07 million. During the same period last year, the firm earned ($0.23) EPS. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. Sell-side analysts predict that Traeger will post -0.12 earnings per share for the current fiscal year.

Traeger Company Profile

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.