Traeger (NYSE:COOK) Trading Down 7.4% - Here's What Happened

Key Points

• Traeger shares fell about 7.4% in mid-day trading to roughly $27.70, with only 2,473 shares traded (a ~72% drop from average volume) after a prior close of $29.92.
• Several analysts have trimmed ratings and price targets—Piper Sandler cut its target to $37.50 and Wall Street Zen moved to a "sell" while Canaccord lowered its target to $100 but kept a "buy"—leaving an overall consensus of "Hold" with an average target of $58.
• Traeger reported an earnings miss, delivering $0.01 EPS versus $1.00 expected (revenue $145.36M vs. $135.05M), and the company shows negative margins and a forecasted -$0.12 EPS for the year.

Traeger, Inc. (NYSE:COOK - Get Free Report)'s share price traded down 7.4% during mid-day trading on Wednesday . The stock traded as low as $29.00 and last traded at $27.6950. 2,473 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 8,764 shares. The stock had previously closed at $29.9150.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wall Street Zen cut Traeger from a "hold" rating to a "sell" rating in a report on Saturday, March 7th. Piper Sandler decreased their price target on Traeger from $75.00 to $37.50 and set a "neutral" rating for the company in a research note on Friday, March 6th. Canaccord Genuity Group lowered their price target on Traeger from $150.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, March 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Traeger in a research note on Monday, December 29th. Finally, B. Riley Financial restated a "neutral" rating and issued a $40.00 price objective (down from $50.00) on shares of Traeger in a report on Friday, March 6th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $58.00.

Traeger Trading Down 2.1%

The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of -33.53 and a beta of 1.41. The company has a quick ratio of 1.45, a current ratio of 2.68 and a debt-to-equity ratio of 2.34. The firm's 50 day moving average is $0.90 and its 200 day moving average is $1.00.

Traeger (NYSE:COOK - Get Free Report) last posted its quarterly earnings results on Friday, March 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.99). The business had revenue of $145.36 million during the quarter, compared to analyst estimates of $135.05 million. Traeger had a negative return on equity of 12.01% and a negative net margin of 20.59%. Equities analysts forecast that Traeger, Inc. will post -0.12 earnings per share for the current year.

Institutional Investors Weigh In On Traeger

Institutional investors and hedge funds have recently modified their holdings of the stock. Lido Advisors LLC acquired a new position in shares of Traeger in the 3rd quarter valued at $27,000. RFP Financial Group LLC purchased a new position in Traeger in the 4th quarter worth about $27,000. XTX Topco Ltd acquired a new stake in Traeger during the 2nd quarter worth about $57,000. Bank of America Corp DE lifted its stake in Traeger by 36.6% during the fourth quarter. Bank of America Corp DE now owns 33,314 shares of the company's stock valued at $80,000 after buying an additional 8,933 shares in the last quarter. Finally, Caz Investments LP lifted its stake in Traeger by 100.0% during the fourth quarter. Caz Investments LP now owns 40,000 shares of the company's stock valued at $43,000 after buying an additional 20,000 shares in the last quarter. 46.84% of the stock is owned by institutional investors and hedge funds.

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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