Traeger (NYSE:COOK) Announces Earnings Results, Misses Estimates By $2.23 EPS

Traeger (NYSE:COOK) released its earnings results on Wednesday. The company reported ($6.77) EPS for the quarter, missing the consensus estimate of ($4.54) by ($2.23), FiscalAI reports. Traeger had a negative net margin of 23.23% and a negative return on equity of 13.76%. The company had revenue of $74.68 million for the quarter, compared to analyst estimates of $79.37 million.

Traeger Price Performance

Shares of COOK stock traded down $1.40 during mid-day trading on Wednesday, reaching $49.51. The company’s stock had a trading volume of 60,882 shares, compared to its average volume of 38,817. Traeger has a 1-year low of $20.91 and a 1-year high of $86.59. The company has a market cap of $138.63 million, a P/E ratio of -1.18 and a beta of 1.99. The company has a debt-to-equity ratio of 2.39, a quick ratio of 2.29 and a current ratio of 3.49. The firm’s 50-day moving average is $49.68 and its two-hundred day moving average is $51.05.

Insider Buying and Selling at Traeger

In other news, insider Cole VandenAkker sold 2,750 shares of Traeger stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $55.30, for a total transaction of $152,075.00. Following the sale, the insider directly owned 23,913 shares in the company, valued at approximately $1,322,388.90. The trade was a 10.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 16.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on COOK. Telsey Advisory Group boosted their price objective on shares of Traeger from $45.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. Canaccord Genuity Group set a $77.00 target price on shares of Traeger and gave the company a “buy” rating in a research note on Thursday, August 6th. B. Riley Financial reissued a “neutral” rating on shares of Traeger in a research report on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Traeger in a research note on Friday, September 4th. Finally, Zacks Research cut Traeger from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $50.50.

About Traeger

Traeger, Inc designs, manufactures and sells outdoor cooking products under the Traeger brand. The company is best known for its wood-pellet grills, which use automated temperature controls and hardwood pellets to provide wood-fired cooking. Its product portfolio also includes gas and charcoal grills, portable grills, pizza ovens, smokers and related outdoor cooking equipment.

In addition to grills, Traeger offers wood pellets, rubs, sauces, marinades, cookware, replacement parts and other accessories.