Traeger (NYSE:COOK) Shares Down 7.4% – Time to Sell?

Traeger, Inc. (NYSE:COOK)’s share price was down 7.4% on Wednesday . The stock traded as low as $29.00 and last traded at $27.6950. Approximately 2,473 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 8,764 shares. The stock had previously closed at $29.9150.

Analyst Upgrades and Downgrades

COOK has been the subject of several research analyst reports. Telsey Advisory Group reduced their price target on shares of Traeger from $75.00 to $50.00 and set a “market perform” rating for the company in a research report on Friday, March 6th. B. Riley Financial reiterated a “neutral” rating and set a $40.00 price objective (down from $50.00) on shares of Traeger in a research report on Friday, March 6th. Canaccord Genuity Group cut their target price on shares of Traeger from $150.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. Wall Street Zen lowered Traeger from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Finally, Zacks Research raised Traeger from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $58.00.

Traeger Stock Down 2.1%

The company has a quick ratio of 1.45, a current ratio of 2.68 and a debt-to-equity ratio of 2.34. The firm has a market capitalization of $4.02 billion, a PE ratio of -33.53 and a beta of 1.41. The business’s 50-day moving average price is $0.90 and its 200-day moving average price is $1.00.

Traeger (NYSE:COOK) last announced its quarterly earnings data on Friday, March 6th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.99). Traeger had a negative net margin of 20.59% and a negative return on equity of 12.01%. The company had revenue of $145.36 million for the quarter, compared to analysts’ expectations of $135.05 million. As a group, equities research analysts predict that Traeger, Inc. will post -0.12 EPS for the current fiscal year.

Institutional Trading of Traeger

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted its position in Traeger by 36.6% during the fourth quarter. Bank of America Corp DE now owns 33,314 shares of the company’s stock valued at $80,000 after purchasing an additional 8,933 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Traeger by 9.3% during the 1st quarter. Empowered Funds LLC now owns 167,696 shares of the company’s stock worth $282,000 after purchasing an additional 14,271 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Traeger during the 2nd quarter worth about $57,000. Marshall Wace LLP lifted its holdings in shares of Traeger by 371.7% during the 2nd quarter. Marshall Wace LLP now owns 130,666 shares of the company’s stock valued at $223,000 after buying an additional 102,967 shares during the last quarter. Finally, Diversify Wealth Management LLC lifted its holdings in shares of Traeger by 32.8% during the 2nd quarter. Diversify Wealth Management LLC now owns 114,561 shares of the company’s stock valued at $196,000 after buying an additional 28,313 shares during the last quarter. 46.84% of the stock is currently owned by hedge funds and other institutional investors.

Traeger Company Profile

Traeger, trading on the NYSE under the ticker COOK, is a designer, manufacturer and marketer of wood pellet grills and outdoor cooking appliances. The company’s core product lineup features a range of hardwood-pellet grills that combine wood-fired flavor with digital temperature control. Beyond grills, Traeger offers a suite of accessories—such as grill covers, smoking woods, meat probes and recipe rubs—as well as outdoor kitchen solutions designed to serve both consumer and light-commercial segments.

Founded in 1985 by Joe Traeger, the brand pioneered the wood-pellet grilling category.