Traeger (NYSE:COOK) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Traeger (NYSE:COOK) from a hold rating to a sell rating in a research report released on Saturday morning.

A number of other brokerages have also recently weighed in on COOK. Piper Sandler reduced their price target on shares of Traeger from $1.50 to $0.75 and set a “neutral” rating for the company in a research report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Traeger in a report on Monday, December 29th. Zacks Research upgraded Traeger from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 3rd. Telsey Advisory Group reduced their price objective on Traeger from $1.50 to $1.00 and set a “market perform” rating for the company in a research note on Friday. Finally, Canaccord Genuity Group lowered their target price on shares of Traeger from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $1.16.

Traeger Price Performance

COOK stock opened at $0.56 on Friday. The stock has a market cap of $76.52 million, a price-to-earnings ratio of -0.64 and a beta of 1.41. Traeger has a fifty-two week low of $0.48 and a fifty-two week high of $2.21. The company has a quick ratio of 1.39, a current ratio of 2.96 and a debt-to-equity ratio of 2.15. The business has a 50 day moving average price of $0.95 and a 200 day moving average price of $1.03.

Traeger (NYSE:COOK) last issued its quarterly earnings data on Thursday, March 5th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $145.36 million for the quarter, compared to analysts’ expectations of $135.05 million. Traeger had a negative return on equity of 11.09% and a negative net margin of 20.59%. Equities research analysts anticipate that Traeger will post -0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Traeger

A number of large investors have recently modified their holdings of COOK. Lido Advisors LLC acquired a new stake in Traeger in the third quarter valued at $27,000. RFP Financial Group LLC acquired a new position in Traeger during the fourth quarter worth $27,000. Caz Investments LP increased its position in shares of Traeger by 100.0% in the fourth quarter. Caz Investments LP now owns 40,000 shares of the company’s stock valued at $43,000 after buying an additional 20,000 shares in the last quarter. XTX Topco Ltd acquired a new stake in Traeger in the 2nd quarter valued at about $57,000. Finally, Bank of America Corp DE raised 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 worth $80,000 after acquiring an additional 8,933 shares during the last quarter. 46.84% of the stock is owned by hedge funds and other institutional investors.

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.