Traeger, Inc. (NYSE:COOK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Traeger, Inc. (NYSE:COOK) have earned an average rating of “Moderate Buy” from the six research firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $4.00.

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

Traeger Price Performance

Traeger stock opened at $2.87 on Friday. The company has a market capitalization of $374.83 million, a price-to-earnings ratio of -7.18 and a beta of 1.25. 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 12 month low of $1.97 and a 12 month high of $3.97. The stock’s 50 day moving average is $3.29 and its 200-day moving average is $2.85.

Traeger (NYSE:COOK) last announced its earnings results on Wednesday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). Traeger had a negative net margin of 8.53% and a negative return on equity of 10.57%. The company had revenue of $122.05 million during the quarter, compared to analysts’ expectations of $118.74 million. During the same quarter in the previous year, the business posted ($0.16) earnings per share. Traeger’s quarterly revenue was up 3.7% on a year-over-year basis. Equities research analysts expect that Traeger will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Traeger

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio lifted its holdings 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 buying an additional 7,006 shares during the period. Empowered Funds LLC boosted its position in shares of Traeger by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 145,763 shares of the company’s stock valued at $536,000 after purchasing an additional 7,370 shares in the last quarter. Diversify Wealth Management LLC grew its stake in Traeger by 5.4% during the third quarter. Diversify Wealth Management LLC now owns 164,547 shares of the company’s stock worth $606,000 after purchasing an additional 8,499 shares during the period. SG Americas Securities LLC bought a new stake in Traeger in the first quarter worth approximately $27,000. Finally, Quadrature Capital Ltd acquired a new position in Traeger in the third quarter valued at approximately $50,000. 46.84% of the stock is owned by institutional investors and hedge funds.

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.