Analysts Set Traeger, Inc. (NYSE:COOK) Target Price at $4.38

Shares of Traeger, Inc. (NYSE:COOK) have received an average recommendation of “Moderate Buy” from the five ratings firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $4.38.

COOK has been the topic of several recent research reports. Canaccord Genuity Group decreased their price objective on Traeger from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, March 6th. Telsey Advisory Group decreased their price objective on Traeger from $4.50 to $4.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th.

Insider Activity at Traeger

In related news, CEO Jeremy Andrus purchased 165,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were acquired at an average price of $2.17 per share, with a total value of $358,050.00. Following the purchase, the chief executive officer now directly owns 7,428,887 shares in the company, valued at $16,120,684.79. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Capital World Investors raised its position in Traeger by 4.9% during the 4th quarter. Capital World Investors now owns 6,499,660 shares of the company’s stock worth $17,744,000 after purchasing an additional 304,660 shares during the last quarter. Glendon Capital Management LP bought a new position in shares of Traeger in the 3rd quarter worth about $983,000. Panagora Asset Management Inc. raised its position in shares of Traeger by 28.8% in the 4th quarter. Panagora Asset Management Inc. now owns 153,761 shares of the company’s stock worth $420,000 after acquiring an additional 34,344 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its position in shares of Traeger by 96.3% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 28,643 shares of the company’s stock worth $78,000 after acquiring an additional 14,054 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Traeger by 5.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 121,540 shares of the company’s stock worth $332,000 after acquiring an additional 5,752 shares in the last quarter. 46.84% of the stock is owned by institutional investors.

Traeger Price Performance

Shares of NYSE:COOK opened at $2.22 on Thursday. The business has a 50 day moving average price of $2.30 and a 200 day moving average price of $2.34. The company has a quick ratio of 0.99, a current ratio of 1.74 and a debt-to-equity ratio of 1.35. Traeger has a twelve month low of $1.97 and a twelve month high of $6.70. The company has a market cap of $286.09 million, a price-to-earnings ratio of -3.36 and a beta of 1.16.

Traeger (NYSE:COOK) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.05) earnings per share for the quarter. Traeger had a negative return on equity of 22.43% and a negative net margin of 13.54%. The firm had revenue of $144.91 million for the quarter, compared to analyst estimates of $143.41 million. Research analysts predict that Traeger will post -0.21 earnings per share for the current year.

Traeger Company Profile

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.