Traeger (NYSE:COOK) Releases Earnings Results, Misses Estimates By $0.03 EPS

Traeger (NYSE:COOK - Get Free Report) announced its quarterly earnings data on Thursday, May 1st. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.03), Zacks reports. The company had revenue of $143.28 million for the quarter, compared to analyst estimates of $140.63 million. Traeger had a negative return on equity of 10.57% and a negative net margin of 8.53%.

Traeger Stock Performance

COOK traded up $0.04 during midday trading on Thursday, reaching $1.37. The company's stock had a trading volume of 257,267 shares, compared to its average volume of 212,838. Traeger has a twelve month low of $1.27 and a twelve month high of $3.97. The stock has a market cap of $178.34 million, a P/E ratio of -3.41 and a beta of 1.43. The company has a fifty day simple moving average of $1.64 and a 200 day simple moving average of $2.35. The company has a current ratio of 2.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.42.

Analyst Ratings Changes

A number of research firms have 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 on the stock in a report on Friday, March 7th. UBS Group set a $2.50 target price on shares of Traeger in a report on Friday, March 7th. Piper Sandler cut their target price on shares of Traeger from $2.50 to $2.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Canaccord Genuity Group lowered their target price on Traeger from $5.00 to $3.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Finally, Robert W. Baird reduced their price objective on Traeger from $3.50 to $2.50 and set a "neutral" rating for the company in a research report on Friday, March 7th. 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. Based on data from MarketBeat, Traeger presently has an average rating of "Hold" and an average target price of $2.44.

Hedge Funds Weigh In On Traeger

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