Traeger, Inc. (NYSE:COOK) Given Average Recommendation of "Moderate Buy" by Brokerages

Traeger, Inc. (NYSE:COOK - Get Free Report) has earned an average rating of "Moderate Buy" from the six analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $4.38.

Several equities research analysts recently commented on the company. Telsey Advisory Group dropped their price objective on Traeger from $4.50 to $4.00 and set an "outperform" rating on the stock in a research report on Thursday, May 9th. Canaccord Genuity Group decreased their target price on Traeger from $5.00 to $4.00 and set a "buy" rating on the stock in a research note on Wednesday, March 6th.

Hedge Funds Weigh In On Traeger

Institutional investors and hedge funds have recently modified their holdings of the stock. Glendon Capital Management LP boosted its holdings in Traeger by 223.8% during the 4th quarter. Glendon Capital Management LP now owns 1,165,546 shares of the company's stock valued at $3,182,000 after acquiring an additional 805,546 shares during the period. Capital World Investors boosted its holdings in Traeger by 4.9% during the 4th quarter. Capital World Investors now owns 6,499,660 shares of the company's stock valued at $17,744,000 after acquiring an additional 304,660 shares during the period. Panagora Asset Management Inc. purchased a new position in Traeger during the 3rd quarter valued at $326,000. Empowered Funds LLC boosted its holdings in Traeger by 398.0% during the 1st quarter. Empowered Funds LLC now owns 128,493 shares of the company's stock valued at $325,000 after acquiring an additional 102,689 shares during the period. Finally, Sherbrooke Park Advisers LLC purchased a new position in Traeger during the 3rd quarter valued at $161,000. Hedge funds and other institutional investors own 46.84% of the company's stock.

Traeger Stock Down 3.9 %

Traeger stock traded down $0.09 during trading hours on Friday, hitting $2.20. The stock had a trading volume of 165,661 shares, compared to its average volume of 168,561. The stock's 50-day moving average price is $2.29 and its 200-day moving average price is $2.34. Traeger has a 12-month low of $1.97 and a 12-month high of $6.70. The company has a quick ratio of 0.99, a current ratio of 1.74 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $283.51 million, a P/E ratio of -3.33 and a beta of 1.07.

Traeger (NYSE:COOK - Get Free Report) last issued its earnings results on Thursday, March 7th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.04). The business had revenue of $163.48 million for the quarter, compared to analysts' expectations of $153.10 million. Traeger had a negative net margin of 13.54% and a negative return on equity of 22.43%. Equities research analysts anticipate that Traeger will post -0.21 EPS for the current fiscal year.

Traeger Company Profile

Traeger, Inc, together with its subsidiaries, designs, sources, sells, and supports wood pellet fueled barbecue grills for retailers, distributors, and direct to consumers in the United States. Its wood pellet grills are internet of things devices that allow owners to program, monitor, and control their grill through its Traeger app.