Traeger, Inc. (NYSE:COOK) Receives $3.30 Consensus PT from Brokerages

Shares of Traeger, Inc. (NYSE:COOK) have been assigned a consensus rating of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $3.30.

Several brokerages recently weighed in on COOK. Royal Bank of Canada upped their price target on Traeger from $2.00 to $2.50 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. Piper Sandler raised shares of Traeger from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Robert W. Baird lifted their price target on shares of Traeger from $2.50 to $3.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $4.00 price objective on shares of Traeger in a report on Wednesday, August 7th.

Hedge Funds Weigh In On Traeger

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in Traeger in the first quarter worth about $27,000. AQR Capital Management LLC purchased a new position in Traeger in the 2nd quarter worth approximately $52,000. Norden Group LLC bought a new position in Traeger in the 1st quarter valued at approximately $59,000. Squarepoint Ops LLC boosted its stake in Traeger by 712.1% during the 2nd quarter. Squarepoint Ops LLC now owns 85,713 shares of the company’s stock valued at $206,000 after purchasing an additional 75,159 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Traeger by 398.0% in the 1st quarter. Empowered Funds LLC now owns 128,493 shares of the company’s stock worth $325,000 after purchasing an additional 102,689 shares in the last quarter. Institutional investors own 46.84% of the company’s stock.

Traeger Trading Up 0.7 %

Shares of COOK opened at $3.05 on Tuesday. Traeger has a 1-year low of $1.97 and a 1-year high of $3.97. 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’s 50-day moving average price is $3.44 and its 200-day moving average price is $2.73. The firm has a market capitalization of $393.05 million, a price-to-earnings ratio of -4.58 and a beta of 1.23.

Traeger (NYSE:COOK) last posted its quarterly earnings data 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. Traeger had a negative return on equity of 12.65% and a negative net margin of 8.50%. The business had revenue of $168.47 million for the quarter, compared to analysts’ expectations of $168.07 million. During the same period in the previous year, the firm posted ($0.23) EPS. The business’s revenue was down 1.8% on a year-over-year basis. Sell-side analysts anticipate that Traeger 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.