Brokerages Set Traeger, Inc. (NYSE:COOK) Target Price at $3.30

Shares of Traeger, Inc. (NYSE:COOK) have been given a consensus recommendation of “Moderate Buy” by the seven analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $3.30.

COOK has been the subject of several research analyst reports. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $4.00 price objective on shares of Traeger in a report on Wednesday, August 7th. Piper Sandler upgraded Traeger from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Robert W. Baird increased their price objective on shares of Traeger from $2.50 to $3.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada increased their price target on shares of Traeger from $2.00 to $2.50 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of Traeger during the first quarter valued at approximately $27,000. AQR Capital Management LLC bought a new stake in Traeger in the 2nd quarter valued at $52,000. Norden Group LLC purchased a new stake in Traeger in the 1st quarter worth $59,000. Squarepoint Ops LLC boosted its holdings in shares of Traeger by 712.1% during the 2nd 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. Finally, Empowered Funds LLC grew its position in shares of Traeger by 398.0% during the first quarter. Empowered Funds LLC now owns 128,493 shares of the company’s stock valued at $325,000 after purchasing an additional 102,689 shares in the last quarter. 46.84% of the stock is owned by hedge funds and other institutional investors.

Traeger Stock Performance

Shares of COOK stock opened at $3.05 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 2.04 and a debt-to-equity ratio of 1.34. The company has a 50 day moving average price of $3.44 and a 200-day moving average price of $2.73. Traeger has a 52 week low of $1.97 and a 52 week high of $3.97. The firm has a market capitalization of $393.05 million, a PE ratio of -4.58 and a beta of 1.23.

Traeger (NYSE:COOK) last issued its earnings results on Tuesday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. The company had revenue of $168.47 million for the quarter, compared to analysts’ expectations of $168.07 million. Traeger had a negative net margin of 8.50% and a negative return on equity of 12.65%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.23) earnings per share. As a group, equities research analysts expect that Traeger will post -0.12 earnings per share for the current 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.