Traeger Stock Scheduled to Reverse Split on Wednesday, March 18th (NYSE:COOK)

Shares of Traeger, Inc. (NYSE:COOK) are set to reverse split before the market opens on Wednesday, March 18th. The 1-50 reverse split was announced on Thursday, March 12th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, March 17th.

Traeger Stock Up 10.3%

COOK stock opened at $0.65 on Friday. The company has a 50 day moving average of $0.92 and a two-hundred day moving average of $1.02. The company has a market cap of $89.35 million, a price-to-earnings ratio of -0.75 and a beta of 1.41. Traeger has a 12-month low of $0.48 and a 12-month high of $2.21. The company has a quick ratio of 1.39, a current ratio of 2.68 and a debt-to-equity ratio of 2.34.

Traeger (NYSE:COOK) last posted its quarterly earnings results on Friday, March 6th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). Traeger had a negative net margin of 20.59% and a negative return on equity of 12.01%. The company had revenue of $145.36 million for the quarter, compared to analysts’ expectations of $135.05 million. On average, equities analysts anticipate that Traeger will post -0.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

COOK has been the subject of several research reports. Canaccord Genuity Group reduced their price target on Traeger from $3.00 to $2.00 and set a “buy” rating for the company in a report on Friday, March 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Traeger in a report on Monday, December 29th. Zacks Research raised shares of Traeger from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Telsey Advisory Group reduced their target price on shares of Traeger from $1.50 to $1.00 and set a “market perform” rating for the company in a research note on Friday, March 6th. Finally, Wall Street Zen downgraded shares of Traeger from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Traeger has an average rating of “Hold” and a consensus target price of $1.16.

Institutional Trading of Traeger

Several large investors have recently made changes to their positions in COOK. Artisan Partners Limited Partnership bought a new position in shares of Traeger in the 3rd quarter valued at approximately $1,220,000. Blair William & Co. IL lifted its holdings in Traeger by 19.9% in the 4th quarter. Blair William & Co. IL now owns 92,680 shares of the company’s stock worth $100,000 after purchasing an additional 15,400 shares during the last quarter. Evergreen Capital Management LLC bought a new stake in Traeger during the second quarter worth approximately $93,000. XTX Topco Ltd bought a new stake in Traeger during the second quarter worth approximately $57,000. Finally, Lido Advisors LLC acquired a new position in Traeger during the third quarter valued at approximately $27,000. Institutional investors own 46.84% of the company’s stock.

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.