Traeger (NYSE:COOK) Cut to Hold at Zacks Research

Key Points

• Zacks Research downgraded Traeger to “hold” from “strong buy,” bringing the analyst consensus to “hold.” Across seven analysts, the stock has one buy, five hold and one sell rating, with an average price target of $50.50.
• Traeger reported quarterly EPS of $0.53, beating the consensus estimate of a $1.57 loss, but revenue of $120.16 million fell short of the $133.20 million expectation. The company remained unprofitable, with a negative net margin of 23.23%.
• COOK opened at $61.93, compared with a 52-week range of $20.91 to $86.59; institutional investors own approximately 46.84% of the stock.

Traeger (NYSE:COOK - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Thursday,Zacks.com reports.

A number of other brokerages have also recently issued reports on COOK. Wall Street Zen upgraded Traeger from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. 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 research note on Friday. Robert W. Baird set a $40.00 price target on shares of Traeger in a research report on Tuesday, May 12th. Piper Sandler restated a "neutral" rating and set a $38.00 price target on shares of Traeger in a research note on Tuesday, May 12th. Finally, Canaccord Genuity Group set a $77.00 price objective on shares of Traeger and gave the stock a "buy" rating in a report on Thursday. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $50.50.

Traeger Stock Performance

COOK opened at $61.93 on Thursday. Traeger has a 1-year low of $20.91 and a 1-year high of $86.59. The company has a market cap of $172.18 million, a price-to-earnings ratio of -1.47 and a beta of 1.97. The company's fifty day moving average price is $68.11 and its two-hundred day moving average price is $51.11. The company has a current ratio of 3.40, a quick ratio of 2.01 and a debt-to-equity ratio of 2.29.

Traeger (NYSE:COOK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.57) by $2.10. Traeger had a negative net margin of 23.23% and a negative return on equity of 13.56%. The business had revenue of $120.16 million during the quarter, compared to the consensus estimate of $133.20 million. On average, analysts expect that Traeger will post -2.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Traeger

A number of institutional investors and hedge funds have recently modified their holdings of COOK. Lido Advisors LLC purchased a new position in Traeger during the third quarter valued at approximately $27,000. RFP Financial Group LLC bought a new stake in Traeger during the 4th quarter worth approximately $27,000. Caz Investments LP lifted its stake in Traeger by 100.0% in the 4th quarter. Caz Investments LP now owns 40,000 shares of the company's stock worth $43,000 after purchasing an additional 20,000 shares in the last quarter. XTX Topco Ltd purchased a new stake in Traeger in the 2nd quarter worth approximately $57,000. Finally, Bank of America Corp DE lifted its stake in Traeger by 36.6% in the 4th quarter. Bank of America Corp DE now owns 33,314 shares of the company's stock worth $80,000 after purchasing an additional 8,933 shares in the last quarter. 46.84% of the stock is owned by hedge funds and other institutional investors.

Traeger Company Profile

Traeger, trading on the NYSE under the ticker COOK, is a designer, manufacturer and marketer of wood pellet grills and outdoor cooking appliances. The company's core product lineup features a range of hardwood-pellet grills that combine wood-fired flavor with digital temperature control. Beyond grills, Traeger offers a suite of accessories—such as grill covers, smoking woods, meat probes and recipe rubs—as well as outdoor kitchen solutions designed to serve both consumer and light-commercial segments.

Founded in 1985 by Joe Traeger, the brand pioneered the wood-pellet grilling category.

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