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

Traeger, Inc. (NYSE:COOK) has received a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $5.20.

COOK has been the topic of a number of recent research reports. William Blair began coverage on Traeger in a research report on Wednesday, June 14th. They set a “market perform” rating on the stock. Canaccord Genuity Group boosted their price objective on shares of Traeger from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Morgan Stanley raised their target price on shares of Traeger from $4.50 to $4.75 and gave the stock an “equal weight” rating in a report on Thursday, August 3rd. Telsey Advisory Group upgraded shares of Traeger from a “market perform” rating to an “outperform” rating and upped their price target for the company from $3.50 to $6.50 in a report on Thursday, August 3rd. Finally, Piper Sandler raised their price objective on shares of Traeger from $4.00 to $5.00 in a research note on Thursday, August 3rd.

Traeger Stock Down 6.0 %

NYSE COOK opened at $3.76 on Tuesday. The stock has a 50 day moving average price of $4.50 and a 200-day moving average price of $3.96. Traeger has a one year low of $2.48 and a one year high of $6.70. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.00 and a current ratio of 1.77. The company has a market capitalization of $466.13 million, a P/E ratio of -1.72 and a beta of 0.91.

Traeger (NYSE:COOK) last released its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.16). Traeger had a negative net margin of 47.48% and a negative return on equity of 37.17%. The business had revenue of $171.51 million for the quarter, compared to the consensus estimate of $154.10 million. As a group, equities analysts predict that Traeger will post -0.44 EPS for the current fiscal year.

Insider Buying and Selling at Traeger

In other news, CFO Dominic Blosil sold 7,656 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $4.01, for a total transaction of $30,700.56. Following the transaction, the chief financial officer now directly owns 1,375,865 shares of the company’s stock, valued at $5,517,218.65. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, COO James H. Hardy, Jr. sold 6,294 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $4.37, for a total value of $27,504.78. Following the completion of the sale, the chief operating officer now owns 946,858 shares in the company, valued at $4,137,769.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dominic Blosil sold 7,656 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $4.01, for a total transaction of $30,700.56. Following the completion of the sale, the chief financial officer now directly owns 1,375,865 shares of the company’s stock, valued at $5,517,218.65. The disclosure for this sale can be found here. Insiders sold a total of 83,308 shares of company stock valued at $385,820 in the last three months. Company insiders own 9.80% of the company’s stock.

Institutional Trading of Traeger

A number of hedge funds have recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC lifted its stake in Traeger by 133,627.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 139,892,199 shares of the company’s stock worth $394,496,000 after acquiring an additional 139,787,589 shares during the period. FMR LLC lifted its holdings in Traeger by 1.3% during the first quarter. FMR LLC now owns 8,134,745 shares of the company’s stock worth $33,434,000 after buying an additional 103,027 shares during the period. Vanguard Group Inc. lifted its holdings in Traeger by 19.5% during the third quarter. Vanguard Group Inc. now owns 3,060,681 shares of the company’s stock worth $8,632,000 after buying an additional 498,380 shares during the period. BlackRock Inc. lifted its holdings in Traeger by 6.4% during the second quarter. BlackRock Inc. now owns 2,817,825 shares of the company’s stock worth $11,976,000 after buying an additional 170,458 shares during the period. Finally, Millennium Management LLC lifted its holdings in Traeger by 615.6% during the second quarter. Millennium Management LLC now owns 1,757,399 shares of the company’s stock worth $7,469,000 after buying an additional 1,511,821 shares during the period. 42.28% of the stock is owned by hedge funds and other 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.