Brokerages Set Traeger, Inc. (NYSE:COOK) PT at $3.30

by · The Markets Daily

Traeger, Inc. (NYSE:COOK – Get Free Report) has been given an average recommendation of “Moderate Buy” by the seven brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, three have given a buy recommendation and one has given a strong 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 $3.30.

A number of research analysts recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Traeger from $2.00 to $2.50 and gave the company a “sector perform” rating in a research note on Thursday, August 8th. Piper Sandler raised shares of Traeger from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Robert W. Baird lifted their price objective on shares of Traeger from $2.50 to $3.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $4.00 price objective on shares of Traeger in a research note on Wednesday, August 7th.

Read Our Latest Research Report on COOK

Traeger Stock Down 2.7 %

Shares of COOK opened at $3.58 on Friday. Traeger has a 12 month low of $1.97 and a 12 month high of $3.97. The firm’s 50 day moving average is $3.19 and its 200-day moving average is $2.63. The stock has a market capitalization of $461.35 million, a PE ratio of -5.42 and a beta of 1.23. The company has a current ratio of 2.04, a quick ratio of 1.21 and a debt-to-equity ratio of 1.34.

Traeger (NYSE:COOK – Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. The company had revenue of $168.47 million for the quarter, compared to analysts’ expectations of $168.07 million. Traeger had a negative net margin of 8.50% and a negative return on equity of 12.65%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the firm earned ($0.23) earnings per share. Equities research analysts forecast that Traeger will post -0.12 EPS for the current year.

Institutional Trading of Traeger

A number of hedge funds and other institutional investors have recently modified their holdings of COOK. Victory Capital Management Inc. bought a new stake in shares of Traeger during the fourth quarter worth $28,000. Dynamic Technology Lab Private Ltd grew its stake in shares of Traeger by 96.3% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 28,643 shares of the company’s stock worth $78,000 after buying an additional 14,054 shares during the last quarter. Capital World Investors grew its stake in shares of Traeger by 4.9% during the fourth quarter. Capital World Investors now owns 6,499,660 shares of the company’s stock worth $17,744,000 after buying an additional 304,660 shares during the last quarter. Norden Group LLC bought a new stake in shares of Traeger during the first quarter worth $118,000. Finally, Empowered Funds LLC grew its stake in shares of Traeger by 398.0% during the first quarter. Empowered Funds LLC now owns 128,493 shares of the company’s stock worth $325,000 after buying an additional 102,689 shares during the last quarter. Institutional investors own 46.84% of the company’s stock.

About Traeger

(Get Free Report

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.

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