Traeger, Inc. (NYSE:COOK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Traeger, Inc. (NYSE:COOK) have earned a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $4.47.

COOK has been the topic of several recent research reports. Canaccord Genuity Group cut their price target on Traeger from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, March 6th. Telsey Advisory Group reiterated an “outperform” rating and set a $4.50 price objective (down from $5.00) on shares of Traeger in a report on Monday, March 4th.

Traeger Trading Up 3.1 %

COOK opened at $2.14 on Wednesday. The stock has a market cap of $273.15 million, a PE ratio of -3.88 and a beta of 1.04. The company has a quick ratio of 0.90, a current ratio of 1.62 and a debt-to-equity ratio of 1.36. Traeger has a twelve month low of $1.97 and a twelve month high of $6.70. The company has a fifty day moving average of $2.26 and a 200-day moving average of $2.40.

Traeger (NYSE:COOK) last issued its earnings results on Thursday, March 7th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.04). Traeger had a negative return on equity of 20.91% and a negative net margin of 11.26%. The business had revenue of $163.48 million during the quarter, compared to the consensus estimate of $153.10 million. On average, sell-side analysts predict that Traeger will post -0.15 EPS for the current year.

Hedge Funds Weigh In On Traeger

A number of hedge funds and other institutional investors have recently modified their holdings of COOK. Capital World Investors increased its position in shares of 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 acquiring an additional 304,660 shares during the last quarter. Glendon Capital Management LP grew its position in Traeger by 223.8% during the fourth quarter. Glendon Capital Management LP now owns 1,165,546 shares of the company’s stock valued at $3,182,000 after buying an additional 805,546 shares during the period. Panagora Asset Management Inc. raised its position in Traeger by 28.8% in the fourth quarter. Panagora Asset Management Inc. now owns 153,761 shares of the company’s stock worth $420,000 after acquiring an additional 34,344 shares during the period. Swiss National Bank boosted its stake in Traeger by 14.4% in the third quarter. Swiss National Bank now owns 136,200 shares of the company’s stock valued at $372,000 after acquiring an additional 17,100 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Traeger by 5.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 121,540 shares of the company’s stock worth $332,000 after purchasing an additional 5,752 shares during the last quarter. Hedge funds and other institutional investors 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.