Traeger, Inc. (NYSE:COOK) Receives Average Recommendation of “Reduce” from Analysts

Traeger, Inc. (NYSE:COOK) has earned a consensus rating of “Reduce” from the eight research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $2.0938.

Several equities analysts recently commented on COOK shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Traeger in a report on Monday. Telsey Advisory Group cut their target price on Traeger from $1.75 to $1.50 and set a “market perform” rating on the stock in a research note on Thursday, November 6th. Finally, Wall Street Zen raised Traeger from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th.

Traeger Stock Performance

NYSE:COOK opened at $1.12 on Friday. The firm has a market capitalization of $152.79 million, a PE ratio of -1.41 and a beta of 1.41. The stock’s fifty day moving average is $0.94 and its 200 day moving average is $1.35. Traeger has a fifty-two week low of $0.71 and a fifty-two week high of $3.12. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.39 and a current ratio of 2.96.

Traeger (NYSE:COOK) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.14). Traeger had a negative return on equity of 11.31% and a negative net margin of 18.01%.The firm had revenue of $125.40 million for the quarter, compared to analysts’ expectations of $111.04 million. On average, sell-side analysts anticipate that Traeger will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Strs Ohio bought a new position in Traeger in the 1st quarter worth about $672,000. Nuveen LLC purchased a new stake in shares of Traeger in the first quarter valued at approximately $122,000. Drive Wealth Management LLC bought a new position in Traeger in the second quarter worth approximately $389,000. Jacobs Levy Equity Management Inc. increased its holdings in Traeger by 118.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 256,082 shares of the company’s stock worth $312,000 after purchasing an additional 138,603 shares during the period. Finally, Millennium Management LLC raised its position in Traeger by 20.2% during the 3rd quarter. Millennium Management LLC now owns 498,259 shares of the company’s stock valued at $608,000 after purchasing an additional 83,796 shares in the last quarter. 46.84% of the stock is currently owned by institutional investors.

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.