Analysts Set Traeger, Inc. (NYSE:COOK) Price Target at $4.47

Traeger, Inc. (NYSE:COOK) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $4.47.

Several research firms recently commented on COOK. Canaccord Genuity Group reduced their target price on Traeger from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, March 6th. Telsey Advisory Group restated an “outperform” rating and set a $4.50 target price (down from $5.00) on shares of Traeger in a research report on Monday, March 4th.

Traeger Stock Performance

NYSE:COOK opened at $2.12 on Wednesday. Traeger has a 1 year low of $1.97 and a 1 year high of $6.70. The business has a fifty day simple moving average of $2.26 and a two-hundred day simple moving average of $2.39. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.62 and a quick ratio of 0.90. The company has a market capitalization of $271.23 million, a P/E ratio of -3.85 and a beta of 1.04.

Traeger (NYSE:COOK) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.12) EPS 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 company had revenue of $163.48 million during the quarter, compared to the consensus estimate of $153.10 million. On average, analysts expect that Traeger will post -0.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norden Group LLC bought a new position in Traeger during the 1st quarter valued at approximately $118,000. Capital World Investors raised its position in Traeger by 4.9% during the 4th quarter. Capital World Investors now owns 6,499,660 shares of the company’s stock valued at $17,744,000 after purchasing an additional 304,660 shares during the last quarter. Glendon Capital Management LP raised its position in Traeger by 223.8% during the 4th quarter. Glendon Capital Management LP now owns 1,165,546 shares of the company’s stock valued at $3,182,000 after purchasing an additional 805,546 shares during the last quarter. Dynamic Technology Lab Private Ltd raised its position in Traeger by 96.3% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 28,643 shares of the company’s stock valued at $78,000 after purchasing an additional 14,054 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its position in Traeger by 28.8% during the 4th quarter. Panagora Asset Management Inc. now owns 153,761 shares of the company’s stock valued at $420,000 after purchasing an additional 34,344 shares during the last quarter. 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.