Traeger (NYSE:COOK) Issues Earnings Results, Misses Expectations By $0.03 EPS

Traeger (NYSE:COOK - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.03), Zacks reports. The firm had revenue of $143.28 million for the quarter, compared to the consensus estimate of $140.63 million. Traeger had a negative net margin of 8.53% and a negative return on equity of 10.57%.

Traeger Price Performance

Shares of Traeger stock traded down $0.10 during trading on Tuesday, reaching $1.35. The company's stock had a trading volume of 564,906 shares, compared to its average volume of 212,383. The stock has a 50-day moving average price of $1.66 and a two-hundred day moving average price of $2.35. The stock has a market capitalization of $175.72 million, a P/E ratio of -3.36 and a beta of 1.43. The company has a current ratio of 2.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.42. Traeger has a one year low of $1.30 and a one year high of $3.97.

Wall Street Analyst Weigh In

Several brokerages recently commented on COOK. Royal Bank of Canada reduced their target price on Traeger from $2.75 to $2.00 and set a "sector perform" rating for the company in a research report on Friday, March 7th. Canaccord Genuity Group lowered their target price on shares of Traeger from $5.00 to $3.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Telsey Advisory Group cut their price target on shares of Traeger from $2.50 to $2.00 and set a "market perform" rating for the company in a research note on Friday. Morgan Stanley lowered their price objective on Traeger from $3.00 to $2.50 and set an "underweight" rating on the stock in a research note on Friday, March 7th. Finally, B. Riley restated a "buy" rating and set a $3.00 target price (down previously from $4.00) on shares of Traeger in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Traeger has a consensus rating of "Hold" and an average price target of $2.44.

Institutional Investors Weigh In On Traeger

An institutional investor recently raised its position in Traeger stock. Bank of America Corp DE increased its stake in Traeger, Inc. (NYSE:COOK - Free Report) by 36.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,314 shares of the company's stock after purchasing an additional 8,933 shares during the period. Bank of America Corp DE's holdings in Traeger were worth $80,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 46.84% of the company's stock.

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.