Traeger, Inc. (NYSE:COOK) Given Consensus Rating of “Reduce” by Brokerages

Shares of Traeger, Inc. (NYSE:COOK) have earned a consensus recommendation of “Reduce” from the eight analysts that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $2.0938.

COOK has been the topic of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Traeger in a research report on Monday. Telsey Advisory Group lowered their price objective on shares of Traeger from $1.75 to $1.50 and set a “market perform” rating on the stock in a research report on Thursday, November 6th. B. Riley cut shares of Traeger from a “buy” rating to a “neutral” rating and reduced their target price for the company from $3.00 to $1.50 in a report on Wednesday, August 13th. Royal Bank Of Canada decreased their target price on shares of Traeger from $1.50 to $1.25 and set a “sector perform” rating for the company in a research note on Thursday, August 7th. Finally, Wall Street Zen upgraded Traeger from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th.

Institutional Investors Weigh In On Traeger

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Traeger by 9,116.3% in the third quarter. JPMorgan Chase & Co. now owns 2,368,133 shares of the company’s stock valued at $2,889,000 after acquiring an additional 2,342,438 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in Traeger during the third quarter worth about $1,220,000. Strs Ohio acquired a new stake in Traeger in the first quarter valued at about $672,000. Fortitude Financial LLC purchased a new stake in Traeger in the 2nd quarter valued at approximately $422,000. Finally, Drive Wealth Management LLC boosted its holdings in Traeger by 107.4% in the 3rd quarter. Drive Wealth Management LLC now owns 472,150 shares of the company’s stock valued at $576,000 after purchasing an additional 244,493 shares in the last quarter. Hedge funds and other institutional investors own 46.84% of the company’s stock.

Traeger Stock Performance

Shares of COOK stock opened at $0.81 on Wednesday. The stock’s 50-day moving average is $1.09 and its two-hundred day moving average is $1.41. 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 has a 1 year low of $0.77 and a 1 year high of $3.43. The firm has a market cap of $111.40 million, a price-to-earnings ratio of -1.03 and a beta of 1.41.

Traeger (NYSE:COOK) last posted its earnings results on Wednesday, November 5th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.14). The firm had revenue of $125.40 million during the quarter, compared to analysts’ expectations of $111.04 million. Traeger had a negative net margin of 18.01% and a negative return on equity of 11.31%. Traeger has set its FY 2025 guidance at EPS. Analysts predict that Traeger will post -0.12 earnings per share for the current year.

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.