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

Key Points

• Analysts maintain a neutral outlook: Seven firms collectively rate Traeger “Hold,” with five holds, one sell and one buy. The average 12-month price target is $50.50, below the stock’s cited opening price of $52.92.
• Recent results were mixed: Traeger reported quarterly EPS of $0.53, beating estimates by $2.10, but revenue of $120.16 million fell short of the $133.20 million consensus. Analysts expect a full-year loss of approximately $0.30 per share.
• Insider and institutional activity increased: An insider sold 2,750 shares for about $152,075, while several institutional investors initiated positions. Insiders own 16.20% of the stock, and institutions and hedge funds own 46.84%.

Traeger, Inc. (NYSE:COOK - Get Free Report) has received an average recommendation of "Hold" from the seven research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $50.50.

Several brokerages have weighed in on COOK. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $43.00 target price (up from $37.50) on shares of Traeger in a report on Friday, August 7th. B. Riley Financial restated a "neutral" rating on shares of Traeger in a research note on Friday, August 7th. Telsey Advisory Group raised their price target on Traeger from $45.00 to $65.00 and gave the company a "market perform" rating in a research note on Thursday, August 6th. Canaccord Genuity Group set a $77.00 price objective on Traeger and gave the company a "buy" rating in a report on Thursday, August 6th. Finally, Zacks Research lowered shares of Traeger from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 6th.

Insider Transactions at Traeger

In related 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 transaction, the insider directly owned 23,913 shares of the company's stock, 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 filing with the SEC, which is available through this link. 16.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in COOK. Caz Investments LP bought a new position in shares of Traeger in the 2nd quarter worth $47,000. State Street Corp bought a new position in Traeger in the second quarter worth about $444,000. RFP Financial Group LLC purchased a new stake in shares of Traeger during the fourth quarter valued at about $27,000. Finally, MYDA Advisors LLC purchased a new stake in shares of Traeger during the fourth quarter valued at about $173,000. 46.84% of the stock is currently owned by hedge funds and other institutional investors.

Traeger Stock Performance

Traeger stock opened at $52.92 on Friday. The company has a 50 day moving average price of $54.58 and a 200-day moving average price of $53.24. The company has a debt-to-equity ratio of 2.39, a quick ratio of 2.29 and a current ratio of 3.49. Traeger has a fifty-two week low of $20.91 and a fifty-two week high of $86.59. The company has a market capitalization of $148.19 million, a PE ratio of -1.26 and a beta of 1.93.

Traeger (NYSE:COOK - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.57) by $2.10. Traeger had a negative return on equity of 13.76% and a negative net margin of 23.23%.The firm had revenue of $120.16 million during the quarter, compared to analyst estimates of $133.20 million. As a group, equities analysts forecast that Traeger will post -0.3 earnings per share for the current year.

About Traeger

Traeger, Inc is a consumer products company focused on outdoor cooking. The company is best known for its wood-pellet grills, which use automated temperature controls and real-wood fuel to provide a wood-fired cooking experience. Traeger offers grills in a range of sizes and configurations for residential outdoor use.

In addition to grills, Traeger sells related products and accessories, including wood pellets, sauces, rubs, cookware, grill tools, replacement parts and other outdoor-cooking equipment.

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