Traeger (NYSE:COOK) Downgraded by Zacks Research to “Hold”

Zacks Research downgraded shares of Traeger (NYSE:COOK) from a strong-buy rating to a hold rating in a research report released on Thursday,Zacks.com reports.

COOK has been the topic of several other research reports. Weiss Ratings raised Traeger from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 8th. Telsey Advisory Group boosted their target price on Traeger from $45.00 to $65.00 and gave the stock a “market perform” rating in a research report on Thursday. Canaccord Genuity Group set a $77.00 target price on Traeger and gave the stock a “buy” rating in a research report on Thursday. Robert W. Baird set a $40.00 price target on shares of Traeger in a research report on Tuesday, May 12th. Finally, Piper Sandler reissued a “neutral” rating and set a $38.00 price objective on shares of Traeger in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $50.50.

Traeger Price Performance

COOK opened at $61.93 on Thursday. The company has a fifty day moving average price of $68.11 and a two-hundred day moving average price of $51.11. The company has a debt-to-equity ratio of 2.29, a quick ratio of 2.01 and a current ratio of 3.40. Traeger has a 52 week low of $20.91 and a 52 week high of $86.59. The firm has a market capitalization of $172.18 million, a PE ratio of -1.47 and a beta of 1.97.

Traeger (NYSE:COOK) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.57) by $2.10. Traeger had a negative return on equity of 13.56% and a negative net margin of 23.23%.The company had revenue of $120.16 million for the quarter, compared to the consensus estimate of $133.20 million. As a group, analysts anticipate that Traeger will post -2.29 earnings per share for the current year.

Institutional Investors Weigh In On Traeger

Several large investors have recently modified their holdings of COOK. Bank of America Corp DE grew its position in shares of Traeger by 36.6% in the 4th quarter. Bank of America Corp DE now owns 33,314 shares of the company’s stock valued at $80,000 after purchasing an additional 8,933 shares during the period. Empowered Funds LLC raised its holdings in 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 period. XTX Topco Ltd bought a new position in Traeger in the second quarter valued at approximately $57,000. Marshall Wace LLP lifted its stake in Traeger by 371.7% in the second quarter. Marshall Wace LLP now owns 130,666 shares of the company’s stock valued at $223,000 after buying an additional 102,967 shares in the last quarter. Finally, Diversify Wealth Management LLC boosted its holdings in shares of Traeger by 32.8% in the second quarter. Diversify Wealth Management LLC now owns 114,561 shares of the company’s stock valued at $196,000 after buying an additional 28,313 shares during the period. 46.84% of the stock is currently owned by institutional investors.

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.