Traeger, Inc. (NYSE:COOK) Stock Has Average Target Price of $50.50 According to Analysts

Shares of Traeger, Inc. (NYSE:COOK) have been assigned an average recommendation of “Hold” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $50.50.

A number of research analysts have commented on COOK shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Traeger in a report on Friday, September 4th. B. Riley Financial restated a “neutral” rating on shares of Traeger in a research report on Friday, August 7th. Zacks Research lowered shares of Traeger from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Telsey Advisory Group boosted their price objective on shares of Traeger from $45.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, August 6th. Finally, Canaccord Genuity Group set a $77.00 price objective on shares of Traeger and gave the stock a “buy” rating in a research note on Thursday, August 6th.

Traeger Price Performance

Shares of COOK stock opened at $51.63 on Friday. The firm has a fifty day moving average of $53.70 and a two-hundred day moving average of $53.99. The firm has a market cap of $144.58 million, a P/E ratio of -1.23 and a beta of 1.93. Traeger has a 1-year low of $20.91 and a 1-year high of $86.59. The company has a debt-to-equity ratio of 2.39, a current ratio of 3.49 and a quick ratio of 2.29.

Traeger (NYSE:COOK) last issued its earnings results on Thursday, August 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.57) by $2.10. The business had revenue of $120.16 million for the quarter, compared to analyst estimates of $133.20 million. Traeger had a negative net margin of 23.23% and a negative return on equity of 13.76%. As a group, research analysts anticipate that Traeger will post -0.30 earnings per share for the current fiscal year.

Insider Activity at Traeger

In other news, insider Cole VandenAkker sold 2,750 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $55.30, for a total transaction of $152,075.00. Following the completion of the transaction, the insider directly owned 23,913 shares of the company’s stock, valued at approximately $1,322,388.90. This represents a 10.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 16.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MYDA Advisors LLC acquired a new stake in Traeger in the fourth quarter worth $173,000. RFP Financial Group LLC bought a new stake in Traeger in the fourth quarter valued at $27,000. State Street Corp acquired a new position in shares of Traeger during the second quarter valued at $444,000. Finally, Caz Investments LP acquired a new position in shares of Traeger during the second quarter valued at $47,000. Institutional investors and hedge funds own 46.84% of the company’s stock.

About Traeger

Traeger, Inc is a consumer-products company focused on wood-fired outdoor cooking. Its product portfolio includes wood pellet grills and smokers, portable grills, grill accessories, replacement parts, and related outdoor-cooking equipment. The company also sells wood pellets, sauces, rubs, seasonings, and other consumable products designed for use with its cooking systems.

Traeger markets its products through specialty retailers, mass merchants, e-commerce channels, and its own direct-to-consumer platform.