Traeger (NYSE:COOK) Announces Quarterly Earnings Results

Key Points

• Traeger reported a quarterly loss of $6.77 per share, missing the consensus estimate of a $4.54 loss; revenue of $74.68 million also fell short of the $79.37 million estimate.
• Shares fell $1.40 to $49.51 during Wednesday trading. Analysts’ consensus rating is Hold, with an average price target of $50.50.
• Insider Cole VandenAkker sold 2,750 shares for $152,075, reducing his direct ownership by 10.31%.

Traeger (NYSE:COOK - Get Free Report) posted its earnings results on Wednesday. The company reported ($6.77) earnings per share for the quarter, missing the consensus estimate of ($4.54) by ($2.23), FiscalAI reports. Traeger had a negative net margin of 23.23% and a negative return on equity of 13.76%. The company had revenue of $74.68 million for the quarter, compared to the consensus estimate of $79.37 million.

Traeger Stock Performance

COOK stock traded down $1.40 during mid-day trading on Wednesday, reaching $49.51. 60,882 shares of the stock traded hands, compared to its average volume of 38,817. The company has a quick ratio of 2.29, a current ratio of 3.49 and a debt-to-equity ratio of 2.39. Traeger has a 52 week low of $20.91 and a 52 week high of $86.59. The business has a 50-day moving average of $49.68 and a two-hundred day moving average of $51.05. The firm has a market capitalization of $138.63 million, a PE ratio of -1.18 and a beta of 1.99.

Insider Activity at Traeger

In other news, insider Cole VandenAkker sold 2,750 shares of Traeger stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $55.30, for a total value of $152,075.00. Following the transaction, the insider directly owned 23,913 shares in the company, valued at approximately $1,322,388.90. The trade was a 10.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 16.20% of the company's stock.

Analyst Upgrades and Downgrades

COOK has been the topic of a number of analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Traeger in a report on Friday, September 4th. Zacks Research lowered Traeger from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 6th. Canaccord Genuity Group set a $77.00 target price on Traeger and gave the stock a "buy" rating in a report on Thursday, August 6th. B. Riley Financial reaffirmed a "neutral" rating on shares of Traeger in a research report on Friday, August 7th. Finally, Telsey Advisory Group increased their price target on Traeger from $45.00 to $65.00 and gave the company a "market perform" rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Traeger presently has a consensus rating of "Hold" and an average price target of $50.50.

About Traeger

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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