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

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

Several research firms have commented on COOK. Robert W. Baird increased their target price on Traeger from $2.50 to $3.00 and gave the company a “neutral” rating in a research report 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. Royal Bank of Canada upped their price target on shares of Traeger from $2.00 to $2.50 and gave the company a “sector perform” rating in a research report on Thursday, August 8th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $4.00 price target on shares of Traeger in a report on Wednesday, August 7th.

Traeger Stock Up 5.2 %

NYSE COOK opened at $3.84 on Friday. The business has a fifty day moving average price of $3.14 and a two-hundred day moving average price of $2.62. The stock has a market capitalization of $494.86 million, a PE ratio of -5.82 and a beta of 1.23. 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.

Traeger (NYSE:COOK) last posted its earnings results on Tuesday, August 6th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $168.47 million during 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 business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.23) earnings per share. Equities analysts expect that Traeger will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. bought a new stake in Traeger during the fourth quarter worth $28,000. SG Americas Securities LLC purchased a new stake in shares of Traeger in the first quarter valued at about $27,000. Dynamic Technology Lab Private Ltd lifted its position in shares of Traeger by 96.3% during the fourth 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 in the last quarter. AQR Capital Management LLC purchased a new position in Traeger during the second quarter worth about $52,000. Finally, Norden Group LLC bought a new stake in Traeger in the 1st quarter worth about $59,000. Institutional investors and hedge funds 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.