Traeger, Inc. (NYSE:COOK) Stock Has Average Price Target of $50.50

Traeger, Inc. (NYSE:COOK) has been given a consensus rating of “Hold” by the seven research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $50.50.

COOK has been the topic of a number of recent analyst reports. Canaccord Genuity Group set a $77.00 price objective on Traeger and gave the stock a “buy” rating in a report on Thursday, August 6th. Telsey Advisory Group increased their price objective on Traeger from $45.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. Zacks Research downgraded Traeger from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Traeger in a research report on Friday, September 4th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $43.00 target price (up from $37.50) on shares of Traeger in a research report on Friday, August 7th.

Insider Activity

In related news, insider Cole VandenAkker sold 2,750 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $55.30, for a total value of $152,075.00. Following the completion of the sale, the insider owned 23,913 shares in the company, valued at $1,322,388.90. This trade represents a 10.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 16.20% of the stock is owned by corporate insiders.

Institutional Trading of Traeger

An institutional investor recently bought a new stake in Traeger stock. Caz Investments LP acquired a new position in shares of Traeger, Inc. (NYSE:COOK) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 600 shares of the company’s stock, valued at approximately $47,000. 46.84% of the stock is owned by institutional investors and hedge funds.

Traeger Trading Up 1.8%

Shares of COOK stock opened at $47.31 on Wednesday. The company has a market cap of $132.39 million, a price-to-earnings ratio of -1.13 and a beta of 1.93. The stock has a 50 day simple moving average of $50.10 and a 200-day simple moving average of $50.99. Traeger has a 12-month low of $20.91 and a 12-month high of $86.59.

Traeger (NYSE:COOK) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of ($1.57) by $2.10. The business had revenue of $120.16 million during the quarter, compared to analyst estimates of $133.20 million. On average, equities analysts forecast that Traeger will post -0.30 earnings per share for the current fiscal year.

Traeger Company Profile

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.