Traeger (NYSE:COOK) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Traeger (NYSE:COOK) from a sell rating to a hold rating in a report published on Saturday morning.

A number of other research analysts also recently issued reports on COOK. B. Riley downgraded Traeger from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $3.00 to $1.50 in a report on Wednesday, August 13th. Royal Bank Of Canada reduced their price target on Traeger from $1.50 to $1.25 and set a “sector perform” rating for the company in a research report on Thursday, August 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Traeger in a report on Wednesday. Finally, Telsey Advisory Group reduced their target price on shares of Traeger from $1.75 to $1.50 and set a “market perform” rating for the company in a report on Thursday. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $2.09.

Traeger Trading Down 5.7%

Shares of NYSE:COOK opened at $0.81 on Friday. The firm has a market cap of $110.48 million, a price-to-earnings ratio of -1.03 and a beta of 1.41. Traeger has a 12 month low of $0.77 and a 12 month high of $3.43. The company’s fifty day simple moving average is $1.15 and its 200 day simple moving average is $1.44. The company has a quick ratio of 1.38, a current ratio of 2.92 and a debt-to-equity ratio of 1.45.

Traeger (NYSE:COOK) last released its earnings results on Wednesday, November 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.14). Traeger had a negative return on equity of 10.39% and a negative net margin of 18.01%.The firm had revenue of $125.40 million for the quarter, compared to the consensus estimate of $111.04 million. Traeger has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Traeger will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Traeger

Large investors have recently added to or reduced their stakes in the business. Norden Group LLC boosted its position in Traeger by 27.2% during the second quarter. Norden Group LLC now owns 23,350 shares of the company’s stock worth $40,000 after purchasing an additional 5,000 shares during the period. Bank of America Corp DE lifted its stake in shares of 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. Empowered Funds LLC lifted its stake in shares of Traeger by 9.3% during the 1st quarter. Empowered Funds LLC now owns 167,696 shares of the company’s stock worth $282,000 after buying an additional 14,271 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Traeger by 2.5% during the 2nd quarter. Bridgeway Capital Management LLC now owns 681,747 shares of the company’s stock worth $1,166,000 after buying an additional 16,751 shares during the period. Finally, Williams & Novak LLC grew its stake in Traeger by 46.3% in the 3rd quarter. Williams & Novak LLC now owns 81,300 shares of the company’s stock valued at $99,000 after buying an additional 25,730 shares during the last quarter. Institutional investors own 46.84% of the company’s stock.

About Traeger

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.