Traeger (NYSE:COOK) Trading 8.4% Higher

Traeger, Inc. (NYSE:COOK) shares shot up 8.4% during trading on Thursday . The company traded as high as $3.90 and last traded at $3.88. 249,188 shares traded hands during trading, a decline of 13% from the average session volume of 287,568 shares. The stock had previously closed at $3.58.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on COOK. Piper Sandler raised 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 Traeger from $2.50 to $3.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Telsey Advisory Group reissued an “outperform” rating and issued a $4.00 price objective on shares of Traeger in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada increased their price objective on Traeger from $2.00 to $2.50 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $3.30.

Traeger Price Performance

The company has a current ratio of 2.04, a quick ratio of 1.21 and a debt-to-equity ratio of 1.34. The firm has a market cap of $493.57 million, a P/E ratio of -5.82 and a beta of 1.23. The firm has a 50-day simple moving average of $2.97 and a 200-day simple moving average of $2.54.

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

Institutional Trading of Traeger

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital World Investors lifted its holdings in shares of Traeger by 4.9% during the 4th quarter. Capital World Investors now owns 6,499,660 shares of the company’s stock valued at $17,744,000 after purchasing an additional 304,660 shares during the last quarter. Norden Group LLC purchased a new stake in shares of Traeger during the 1st quarter valued at $118,000. Empowered Funds LLC lifted 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 purchasing an additional 102,689 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of Traeger by 28.8% during the 4th quarter. Panagora Asset Management Inc. now owns 153,761 shares of the company’s stock valued at $420,000 after purchasing an additional 34,344 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its holdings in shares of Traeger by 96.3% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 28,643 shares of the company’s stock valued at $78,000 after purchasing an additional 14,054 shares during the last quarter. Institutional investors own 46.84% of the company’s stock.

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.