Traeger, Inc. (NYSE:COOK) Receives $4.00 Consensus Price Target from Brokerages

Shares of Traeger, Inc. (NYSE:COOK) have been assigned an average recommendation of “Hold” from the five analysts that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $4.10.

COOK has been the subject of several analyst reports. Canaccord Genuity Group increased their target price on shares of Traeger from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Piper Sandler lifted their target price on shares of Traeger from $3.50 to $3.75 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Telsey Advisory Group restated an “outperform” rating and issued a $4.00 target price on shares of Traeger in a research note on Thursday, November 7th. Finally, Royal Bank of Canada increased 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.

Traeger Price Performance

COOK stock opened at $3.03 on Wednesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.08 and a current ratio of 2.09. The business has a 50-day simple moving average of $3.14 and a two-hundred day simple moving average of $2.95. The company has a market capitalization of $395.72 million, a P/E ratio of -7.57 and a beta of 1.25. Traeger has a 52-week low of $1.97 and a 52-week high of $3.97.

Traeger (NYSE:COOK) last announced 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). The business had revenue of $122.05 million during the quarter, compared to the consensus estimate of $118.74 million. Traeger had a negative return on equity of 10.57% and a negative net margin of 8.53%. Traeger’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.16) earnings per share. Research analysts expect that Traeger will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COOK. Jacobs Levy Equity Management Inc. increased its holdings in Traeger by 724.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 258,058 shares of the company’s stock worth $950,000 after acquiring an additional 226,750 shares during the last quarter. Renaissance Technologies LLC bought a new position in Traeger during the second quarter worth about $345,000. Squarepoint Ops LLC increased its stake in shares of Traeger by 712.1% in the second 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. Dimensional Fund Advisors LP raised its position in shares of Traeger by 56.3% in the second quarter. Dimensional Fund Advisors LP now owns 201,562 shares of the company’s stock valued at $484,000 after purchasing an additional 72,637 shares during the period. Finally, Barclays PLC lifted its stake in shares of Traeger by 271.7% during the 3rd quarter. Barclays PLC now owns 44,861 shares of the company’s stock valued at $166,000 after buying an additional 32,793 shares in the last quarter. 46.84% of the stock is currently owned by hedge funds and other institutional investors.

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.