Traeger (NYSE:COOK) Raised to Strong-Buy at Zacks Research

Traeger (NYSE:COOK) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

COOK has been the subject of a number of other reports. Telsey Advisory Group upped their target price on Traeger from $43.00 to $45.00 and gave the stock a “market perform” rating in a research report on Tuesday, May 12th. B. Riley Financial reiterated a “neutral” rating and set a $40.00 price target (up from $30.00) on shares of Traeger in a research report on Tuesday, May 12th. Canaccord Genuity Group dropped their price objective on Traeger from $100.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Weiss Ratings upgraded Traeger from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 8th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $38.00 target price on shares of Traeger in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $50.08.

Traeger Trading Up 3.5%

Shares of NYSE:COOK opened at $71.16 on Wednesday. The company has a 50 day moving average of $61.58 and a 200-day moving average of $49.01. The firm has a market cap of $197.82 million, a P/E ratio of -1.70 and a beta of 1.95. Traeger has a twelve month low of $20.91 and a twelve month high of $104.00. The company has a current ratio of 3.40, a quick ratio of 2.01 and a debt-to-equity ratio of 2.29.

Traeger (NYSE:COOK) last posted its quarterly earnings data on Monday, May 11th. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.36) by $4.85. Traeger had a negative net margin of 21.84% and a negative return on equity of 13.76%. The business had revenue of $94.07 million during the quarter, compared to analysts’ expectations of $95.05 million. As a group, analysts anticipate that Traeger will post -2.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in COOK. Lido Advisors LLC bought a new position in shares of Traeger in the third quarter valued at $27,000. RFP Financial Group LLC acquired a new stake in shares of Traeger during the 4th quarter valued at $27,000. Caz Investments LP boosted its stake in shares of Traeger by 100.0% during the 4th quarter. Caz Investments LP now owns 40,000 shares of the company’s stock worth $43,000 after acquiring an additional 20,000 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Traeger during the 2nd quarter worth $57,000. Finally, Bank of America Corp DE grew its holdings in shares of Traeger by 36.6% in the 4th 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. Institutional investors and hedge funds own 46.84% of the company’s stock.

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.