Traeger (NYSE:COOK) Announces Quarterly Earnings Results

Traeger (NYSE:COOK) released its earnings results on Wednesday. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.14), FiscalAI reports. Traeger had a negative return on equity of 10.39% and a negative net margin of 18.01%.The business had revenue of $125.40 million for the quarter, compared to analyst estimates of $111.04 million. Traeger updated its FY 2025 guidance to EPS.

Traeger Stock Performance

Shares of NYSE:COOK traded down $0.07 during trading on Friday, reaching $0.79. The stock had a trading volume of 767,951 shares, compared to its average volume of 332,426. The company has a quick ratio of 1.38, a current ratio of 2.92 and a debt-to-equity ratio of 1.45. The stock has a fifty day simple moving average of $1.16 and a two-hundred day simple moving average of $1.45. The firm has a market capitalization of $107.89 million, a price-to-earnings ratio of -1.01 and a beta of 1.41. Traeger has a 52 week low of $0.80 and a 52 week high of $3.43.

Institutional Investors Weigh In On Traeger

Several institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in shares of Traeger by 9,116.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,368,133 shares of the company’s stock worth $2,889,000 after purchasing an additional 2,342,438 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Traeger by 2.5% in the 2nd quarter. Bridgeway Capital Management LLC now owns 681,747 shares of the company’s stock worth $1,166,000 after acquiring an additional 16,751 shares in the last quarter. Empowered Funds LLC grew its position 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 acquiring an additional 14,271 shares during the last quarter. Evergreen Capital Management LLC acquired a new stake in Traeger during the 2nd quarter valued at $93,000. Finally, Jane Street Group LLC bought a new position in Traeger in the 2nd quarter valued at $163,000. Institutional investors own 46.84% of the company’s stock.

Analyst Ratings Changes

COOK has been the subject of a number of research reports. Telsey Advisory Group reduced their price target on shares of Traeger from $1.75 to $1.50 and set a “market perform” rating for the company in a research report on Thursday. Wall Street Zen lowered shares of Traeger from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Royal Bank Of Canada lowered their target price on shares of Traeger from $1.50 to $1.25 and set a “sector perform” rating for the company in a report on Thursday, August 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Traeger in a report on Wednesday. Finally, B. Riley cut Traeger from a “buy” rating to a “neutral” rating and cut their price target for the company from $3.00 to $1.50 in a report on Wednesday, August 13th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Traeger currently has a consensus rating of “Reduce” and an average price target of $2.09.

About Traeger

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.