Traeger, Inc. (NYSE:COOK) Given Average Recommendation of “Hold” by Brokerages

Shares of Traeger, Inc. (NYSE:COOK) have been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $1.16.

A number of research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Traeger in a report on Monday, December 29th. Zacks Research raised Traeger from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. Canaccord Genuity Group dropped their target price on Traeger from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Friday, March 6th. B. Riley Financial reaffirmed a “neutral” rating and set a $0.80 price target (down from $1.00) on shares of Traeger in a research note on Friday, March 6th. Finally, Telsey Advisory Group decreased their price target on Traeger from $1.50 to $1.00 and set a “market perform” rating on the stock in a report on Friday, March 6th.

Institutional Investors Weigh In On Traeger

A number of institutional investors and hedge funds have recently modified their holdings of COOK. Empowered Funds LLC lifted its holdings in Traeger by 9.2% in the fourth quarter. Empowered Funds LLC now owns 227,741 shares of the company’s stock valued at $246,000 after buying an additional 19,280 shares during the period. Artisan Partners Limited Partnership grew its holdings in Traeger by 100.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 2,000,000 shares of the company’s stock worth $2,160,000 after acquiring an additional 1,000,000 shares during the period. Blair William & Co. IL raised its position in shares of Traeger by 19.9% during the 4th quarter. Blair William & Co. IL now owns 92,680 shares of the company’s stock valued at $100,000 after acquiring an additional 15,400 shares during the last quarter. RFP Financial Group LLC acquired a new position in shares of Traeger in the 4th quarter valued at $27,000. Finally, MYDA Advisors LLC bought a new position in shares of Traeger in the 4th quarter worth $173,000. 46.84% of the stock is owned by institutional investors.

Traeger Stock Performance

NYSE:COOK opened at $0.60 on Tuesday. The stock has a market capitalization of $82.35 million, a P/E ratio of -0.69 and a beta of 1.41. The company has a current ratio of 2.68, a quick ratio of 1.45 and a debt-to-equity ratio of 2.34. Traeger has a 1 year low of $0.48 and a 1 year high of $2.21. The firm has a 50 day moving average of $0.91 and a 200-day moving average of $1.01.

Traeger shares are set to reverse split before the market opens 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 closing bell on Tuesday, March 17th.

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

About Traeger

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.