Traeger Stock Set to Reverse Split on Wednesday, March 18th (NYSE:COOK)

Shares of Traeger, Inc. (NYSE:COOK) are scheduled to reverse split on Wednesday, March 18th. The 1-50 reverse split was announced on Thursday, March 12th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, March 17th.

Traeger Stock Up 10.3%

Shares of COOK opened at $0.65 on Friday. The firm has a market capitalization of $89.35 million, a P/E ratio of -0.75 and a beta of 1.41. Traeger has a 12-month low of $0.48 and a 12-month high of $2.21. The company has a current ratio of 2.68, a quick ratio of 1.39 and a debt-to-equity ratio of 2.34. The firm has a fifty day moving average price of $0.92 and a 200-day moving average price of $1.02.

Traeger (NYSE:COOK) last posted its quarterly earnings results on Friday, March 6th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The company had revenue of $145.36 million during the quarter, compared to the consensus estimate of $135.05 million. Traeger had a negative return on equity of 12.01% and a negative net margin of 20.59%. Equities research analysts expect that Traeger will post -0.12 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. B. Riley Financial reaffirmed a “neutral” rating and set a $0.80 target price (down from $1.00) on shares of Traeger in a research report on Friday, March 6th. Canaccord Genuity Group dropped their price objective on Traeger from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. Telsey Advisory Group reduced their price objective on Traeger from $1.50 to $1.00 and set a “market perform” rating on the stock in a report on Friday, March 6th. Piper Sandler decreased their target price on Traeger from $1.50 to $0.75 and set a “neutral” rating for the company in a research report on Friday, March 6th. Finally, Wall Street Zen downgraded Traeger from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $1.16.

Hedge Funds Weigh In On Traeger

Large investors have recently bought and sold shares of the business. Lido Advisors LLC purchased a new stake in Traeger during the third quarter worth $27,000. RFP Financial Group LLC purchased a new position in shares of Traeger in the 4th quarter valued at $27,000. Caz Investments LP raised its position in shares of Traeger by 100.0% in the 4th quarter. Caz Investments LP now owns 40,000 shares of the company’s stock worth $43,000 after acquiring an additional 20,000 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Traeger during the 2nd quarter worth $57,000. Finally, 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 in the last quarter. Institutional investors own 46.84% of the company’s stock.

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.