Brokerages Set Traeger, Inc. (NYSE:COOK) PT at $4.00

Traeger, Inc. (NYSE:COOK) has received a consensus rating of “Hold” from the five brokerages that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $4.10.

Several brokerages have weighed in on COOK. Canaccord Genuity Group lifted their price objective on Traeger from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $4.00 price target on shares of Traeger in a research note on Thursday, November 7th. Royal Bank of Canada increased their price objective on shares of 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 boosted their target price on shares of Traeger from $3.50 to $3.75 and gave the company a “neutral” rating in a research report on Thursday, November 7th.

Traeger Price Performance

Shares of NYSE COOK opened at $3.03 on Wednesday. The firm has a market cap of $395.72 million, a P/E ratio of -7.57 and a beta of 1.25. The business’s 50 day moving average is $3.14 and its 200-day moving average is $2.95. 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 1-year low of $1.97 and a 1-year high of $3.97.

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

Hedge Funds Weigh In On Traeger

Several hedge funds and other institutional investors have recently bought and sold shares of COOK. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Traeger by 724.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 258,058 shares of the company’s stock worth $950,000 after buying an additional 226,750 shares in the last quarter. 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 worth $536,000 after purchasing an additional 7,370 shares in the last quarter. AQR Capital Management LLC bought a new position in Traeger in the second quarter worth approximately $52,000. Panagora Asset Management Inc. lifted its holdings in shares of Traeger by 19.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 182,484 shares of the company’s stock worth $438,000 after purchasing an additional 29,694 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in Traeger by 712.1% in 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 period. Institutional investors and hedge funds own 46.84% of the company’s stock.

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.