Traeger, Inc. (NYSE:COOK) Stock Now Rated “Hold” by Sell-Side Analysts

Traeger, Inc. (NYSE:COOK) has been given an average recommendation of “Hold” by the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $50.50.

COOK has been the subject of several recent research reports. B. Riley Financial reissued a “neutral” rating on shares of Traeger in a report on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Traeger in a research note on Friday, September 4th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $43.00 target price (up from $37.50) on shares of Traeger in a report on Friday, August 7th. Telsey Advisory Group lifted their price target on Traeger from $45.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, August 6th. Finally, Zacks Research cut Traeger from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th.

Insider Activity at Traeger

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

Institutional Trading of Traeger

A number of hedge funds have recently added to or reduced their stakes in COOK. Caz Investments LP acquired a new stake in shares of Traeger in the 2nd quarter valued at $47,000. State Street Corp purchased a new stake in shares of Traeger in the second quarter valued at about $444,000. RFP Financial Group LLC purchased a new position in shares of Traeger in the 4th quarter valued at about $27,000. Finally, MYDA Advisors LLC acquired a new stake in shares of Traeger in the 4th quarter worth approximately $173,000. 46.84% of the stock is owned by hedge funds and other institutional investors.

Traeger Price Performance

Shares of NYSE:COOK opened at $51.95 on Friday. Traeger has a twelve month low of $20.91 and a twelve month high of $86.59. The company’s 50 day moving average is $54.15 and its 200 day moving average is $53.85. The company has a current ratio of 3.49, a quick ratio of 2.29 and a debt-to-equity ratio of 2.39. The company has a market cap of $145.45 million, a PE ratio of -1.24 and a beta of 1.93.

Traeger (NYSE:COOK) last announced its quarterly earnings data 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 analysts’ expectations of $133.20 million. Traeger had a negative net margin of 23.23% and a negative return on equity of 13.76%. On average, sell-side analysts forecast that Traeger will post -0.3 EPS for the current year.

About Traeger

Traeger, Inc is a consumer-products company focused on wood-fired outdoor cooking. Its product portfolio includes wood pellet grills and smokers, portable grills, grill accessories, replacement parts, and related outdoor-cooking equipment. The company also sells wood pellets, sauces, rubs, seasonings, and other consumable products designed for use with its cooking systems.

Traeger markets its products through specialty retailers, mass merchants, e-commerce channels, and its own direct-to-consumer platform.