Traeger, Inc. (NYSE:COOK) Stock Has Consensus Price Target of $50.50

Shares of Traeger, Inc. (NYSE:COOK) have received a consensus rating of “Hold” from the seven ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $50.50.

COOK has been the topic of several research analyst reports. B. Riley Financial reissued a “neutral” rating on shares of Traeger in a research note on Friday, August 7th. Telsey Advisory Group lifted their price objective on Traeger from $45.00 to $65.00 and gave the stock a “market perform” rating in a report on Thursday, August 6th. Zacks Research cut Traeger from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $43.00 target price (up from $37.50) on shares of Traeger in a research report on Friday, August 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Traeger in a report on Friday, September 4th.

Insider Activity

In other news, insider Cole VandenAkker sold 2,750 shares of Traeger stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $55.30, for a total transaction of $152,075.00. Following the completion of the transaction, the insider owned 23,913 shares of the company’s stock, valued at $1,322,388.90. The trade was a 10.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 16.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Traeger

An institutional investor recently bought a new position in Traeger stock. State Street Corp bought a new position in shares of Traeger, Inc. (NYSE:COOK) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,637 shares of the company’s stock, valued at approximately $444,000. State Street Corp owned about 0.20% of Traeger at the end of the most recent quarter. 46.84% of the stock is owned by institutional investors.

Traeger Stock Down 1.3%

COOK stock opened at $51.59 on Wednesday. The company has a current ratio of 3.49, a quick ratio of 2.29 and a debt-to-equity ratio of 2.39. The company’s 50-day moving average price is $49.68 and its 200 day moving average price is $51.05. Traeger has a 52 week low of $20.91 and a 52 week high of $86.59. The company has a market cap of $144.47 million, a P/E ratio of -1.23 and a beta of 1.99.

Traeger (NYSE:COOK) last issued its earnings results on Thursday, August 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.57) by $2.10. Traeger had a negative net margin of 23.23% and a negative return on equity of 13.76%. The company had revenue of $120.16 million during the quarter, compared to analysts’ expectations of $133.20 million. On average, research analysts expect that Traeger will post -0.30 earnings per share for the current fiscal year.

Traeger Company Profile

Traeger, Inc designs, manufactures and sells outdoor cooking products under the Traeger brand. The company is best known for its wood-pellet grills, which use automated temperature controls and hardwood pellets to provide wood-fired cooking. Its product portfolio also includes gas and charcoal grills, portable grills, pizza ovens, smokers and related outdoor cooking equipment.

In addition to grills, Traeger offers wood pellets, rubs, sauces, marinades, cookware, replacement parts and other accessories.