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

Key Points

• Analysts maintain a neutral outlook on Traeger: Seven firms give the stock an average “Hold” rating, with five holds, one buy and one sell. The average 12-month price target is $50.50.
• Recent targets range from $43 at RBC to $77 at Canaccord Genuity, while Telsey raised its target to $65. Zacks downgraded the stock to “Hold,” and Weiss reiterated a “Sell” rating.
• Traeger reported quarterly EPS of $0.53, beating the consensus estimate of a $1.57 loss, but revenue of $120.16 million missed expectations of $133.20 million. Shares opened at $47.31, and analysts project full-year EPS of negative $0.30.

Traeger, Inc. (NYSE:COOK - Get Free Report) has been assigned an average rating 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 recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $50.50.

Several research analysts have weighed in on the company. Zacks Research downgraded Traeger from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 6th. Telsey Advisory Group boosted their target price on Traeger from $45.00 to $65.00 and gave the company a "market perform" rating in a report on Thursday, August 6th. Weiss Ratings restated a "sell (d-)" rating on shares of Traeger in a research note on Friday, September 4th. Canaccord Genuity Group set a $77.00 price target on Traeger and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $43.00 price target (up from $37.50) on shares of Traeger in a report on Friday, August 7th.

Traeger Stock Performance

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

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

Insider Transactions at Traeger

In other Traeger news, insider Cole VandenAkker sold 2,750 shares of the company's stock in a transaction 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 owned 23,913 shares in the company, valued at approximately $1,322,388.90. This represents a 10.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 16.20% of the company's stock.

Institutional Trading of Traeger

An institutional investor recently bought a new position in Traeger stock. State Street Corp purchased a new position in shares of Traeger, Inc. (NYSE:COOK - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,637 shares of the company's stock, valued at approximately $444,000. State Street Corp owned 0.20% of Traeger as of its most recent SEC filing. Institutional investors own 46.84% of the company's stock.

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.

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