Traeger, Inc. (NYSE:COOK) Receives $4.47 Average Price Target from Analysts

Traeger, Inc. (NYSE:COOK) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $4.47.

A number of brokerages recently commented on COOK. Telsey Advisory Group reissued an “outperform” rating and issued a $4.50 price objective (down previously from $5.00) on shares of Traeger in a research note on Monday, March 4th. Canaccord Genuity Group reduced their price objective on shares of Traeger from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Wednesday, March 6th.

Hedge Funds Weigh In On Traeger

A number of large investors have recently made changes to their positions in the business. Victory Capital Management Inc. purchased a new stake in Traeger in the fourth quarter valued at $28,000. SG Americas Securities LLC purchased a new stake in Traeger in the third quarter valued at $45,000. Quantbot Technologies LP purchased a new stake in Traeger in the third quarter valued at $55,000. Dynamic Technology Lab Private Ltd boosted its holdings in Traeger by 96.3% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 28,643 shares of the company’s stock valued at $78,000 after purchasing an additional 14,054 shares during the last quarter. Finally, Norden Group LLC purchased a new stake in Traeger in the first quarter valued at $118,000. 46.84% of the stock is owned by institutional investors and hedge funds.

Traeger Stock Performance

Traeger stock opened at $2.12 on Wednesday. The company has a 50 day moving average price of $2.26 and a 200-day moving average price of $2.39. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.90 and a current ratio of 1.62. Traeger has a fifty-two week low of $1.97 and a fifty-two week high of $6.70. The company has a market capitalization of $271.23 million, a PE ratio of -3.85 and a beta of 1.04.

Traeger (NYSE:COOK) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.04). Traeger had a negative net margin of 11.26% and a negative return on equity of 20.91%. The company had revenue of $163.48 million for the quarter, compared to the consensus estimate of $153.10 million. As a group, equities analysts forecast that Traeger will post -0.15 earnings per share for the current year.

About Traeger

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.