Traeger (NYSE:COOK) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Traeger (NYSE:COOK) from a “hold” to a “strong-buy” rating, adding to a mixed but generally cautious analyst outlook. The consensus across covering analysts remains “Hold,” with a consensus price target of $50.08.
• Traeger’s latest quarterly results beat EPS expectations, reporting $1.49 per share versus an expected loss of $3.36 per share. Revenue came in at $94.07 million, slightly below the $95.05 million estimate.
• The stock has been volatile but recently gained 3.5%, and it traded at $71.16 with a 1-year range of $20.91 to $104.00. The company also carries notable leverage, with a debt-to-equity ratio of 2.29.

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

Several other research firms also recently weighed in on COOK. Wall Street Zen raised Traeger from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Canaccord Genuity Group cut their price target on Traeger from $100.00 to $75.00 and set a "buy" rating on the stock in a research report on Wednesday, March 25th. B. Riley Financial reiterated a "neutral" rating and issued a $40.00 price objective (up from $30.00) on shares of Traeger in a research note on Tuesday, May 12th. Telsey Advisory Group increased their price objective on Traeger from $43.00 to $45.00 and gave the company a "market perform" rating in a report on Tuesday, May 12th. Finally, Robert W. Baird set a $40.00 target price on shares of Traeger in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Traeger currently has a consensus rating of "Hold" and a consensus price target of $50.08.

Traeger Stock Up 3.5%

Traeger stock opened at $71.16 on Wednesday. The company has a debt-to-equity ratio of 2.29, a current ratio of 3.40 and a quick ratio of 2.01. Traeger has a 1-year low of $20.91 and a 1-year high of $104.00. The stock has a market cap of $197.82 million, a PE ratio of -1.70 and a beta of 1.95. The stock's fifty day moving average is $61.58 and its two-hundred day moving average is $49.01.

Traeger (NYSE:COOK - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of ($3.36) by $4.85. The firm had revenue of $94.07 million during the quarter, compared to analysts' expectations of $95.05 million. Traeger had a negative net margin of 21.84% and a negative return on equity of 13.76%. On average, sell-side analysts expect that Traeger will post -2.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

About Traeger

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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