Panagora Asset Management Inc. Buys 29,694 Shares of Traeger, Inc. (NYSE:COOK)

Panagora Asset Management Inc. lifted its stake in Traeger, Inc. (NYSE:COOK) by 19.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 182,484 shares of the company’s stock after purchasing an additional 29,694 shares during the period. Panagora Asset Management Inc. owned 0.14% of Traeger worth $438,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Capital World Investors lifted its position in Traeger by 4.9% during the fourth quarter. Capital World Investors now owns 6,499,660 shares of the company’s stock valued at $17,744,000 after buying an additional 304,660 shares during the period. Empowered Funds LLC boosted its stake in Traeger by 398.0% during the first quarter. Empowered Funds LLC now owns 128,493 shares of the company’s stock worth $325,000 after acquiring an additional 102,689 shares in the last quarter. Norden Group LLC purchased a new stake in Traeger in the first quarter worth about $118,000. Dynamic Technology Lab Private Ltd increased its stake 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. Finally, SG Americas Securities LLC purchased a new position in shares of Traeger during the first quarter valued at approximately $27,000. Institutional investors own 46.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on COOK. Piper Sandler upgraded Traeger from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Robert W. Baird lifted their price target on Traeger from $2.50 to $3.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Telsey Advisory Group reissued an “outperform” rating and set a $4.00 price objective on shares of Traeger in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada lifted their target price on shares of Traeger from $2.00 to $2.50 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $3.30.

Traeger Stock Up 0.8 %

COOK stock opened at $3.62 on Wednesday. The business’s 50-day moving average price is $2.70 and its 200-day moving average price is $2.44. The stock has a market cap of $466.51 million, a P/E ratio of -5.48 and a beta of 1.15. The company has a quick ratio of 1.21, a current ratio of 2.04 and a debt-to-equity ratio of 1.34. Traeger, Inc. has a twelve month low of $1.97 and a twelve month high of $4.32.

Traeger (NYSE:COOK) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.06 earnings per share 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 the consensus estimate of $168.07 million. Traeger had a negative net margin of 8.50% and a negative return on equity of 12.65%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.23) earnings per share. On average, equities research analysts forecast that Traeger, Inc. will post -0.12 EPS for the current year.

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.