Traeger (NYSE:COOK) Cut to Strong Sell at Zacks Research

Traeger (NYSE:COOK) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other brokerages have also recently commented on COOK. Telsey Advisory Group reduced their target price on Traeger from $1.75 to $1.50 and set a “market perform” rating for the company in a research report on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Traeger in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded Traeger from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Traeger has an average rating of “Reduce” and an average price target of $2.09.

Traeger Stock Performance

COOK opened at $0.93 on Monday. The stock’s 50 day moving average price is $0.94 and its two-hundred day moving average price is $1.27. The firm has a market capitalization of $127.03 million, a P/E ratio of -1.17 and a beta of 1.38. The company has a quick ratio of 1.39, a current ratio of 2.96 and a debt-to-equity ratio of 2.15. Traeger has a 12-month low of $0.71 and a 12-month high of $2.70.

Traeger (NYSE:COOK) last announced its earnings results on Thursday, November 6th. 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 11.31% and a negative net margin of 18.01%.The company had revenue of $125.40 million for the quarter, compared to the consensus estimate of $111.04 million. On average, equities analysts forecast that Traeger will post -0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in COOK. Strs Ohio acquired a new position in shares of Traeger during the 1st quarter worth about $672,000. Drive Wealth Management LLC acquired a new stake in shares of Traeger during the second quarter worth $389,000. Norden Group LLC raised its stake in shares of Traeger by 27.2% in the 2nd quarter. Norden Group LLC now owns 23,350 shares of the company’s stock valued at $40,000 after purchasing an additional 5,000 shares during the period. JPMorgan Chase & Co. raised its position in Traeger by 9,116.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,368,133 shares of the company’s stock valued at $2,889,000 after buying an additional 2,342,438 shares during the last quarter. Finally, Evergreen Capital Management LLC bought a new stake in shares of Traeger in the second quarter worth $93,000. 46.84% of the stock is currently owned by 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.