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

Traeger, Inc. (NYSE:COOK) shares are scheduled to reverse split 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 market closes on Tuesday, March 17th.

Traeger Trading Up 10.3%

COOK opened at $0.65 on Friday. The company has a fifty day moving average price of $0.92 and a two-hundred day moving average price of $1.02. Traeger has a 1-year low of $0.48 and a 1-year high of $2.21. The company has a market cap of $89.35 million, a P/E ratio of -0.75 and a beta of 1.41. The company has a current ratio of 2.68, a quick ratio of 1.39 and a debt-to-equity ratio of 2.34.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on COOK. Canaccord Genuity Group cut their price target on Traeger from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Friday, March 6th. Telsey Advisory Group lowered their target price on Traeger from $1.50 to $1.00 and set a “market perform” rating on the stock in a research report on Friday, March 6th. B. Riley Financial reiterated a “neutral” rating and issued a $0.80 target price (down from $1.00) on shares of Traeger in a report on Friday, March 6th. Wall Street Zen downgraded shares of Traeger from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Finally, Piper Sandler decreased their price target on shares of Traeger from $1.50 to $0.75 and set a “neutral” rating for the company in a research note on Friday, March 6th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Traeger presently has an average rating of “Hold” and a consensus target price of $1.16.

Institutional Trading of Traeger

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of Traeger by 9,116.3% in the third quarter. JPMorgan Chase & Co. now owns 2,368,133 shares of the company’s stock valued at $2,889,000 after purchasing an additional 2,342,438 shares during the last quarter. Artisan Partners Limited Partnership purchased a new stake in Traeger in the 3rd quarter valued at about $1,220,000. Fortitude Financial LLC bought a new position in shares of Traeger during the 2nd quarter worth approximately $422,000. Drive Wealth Management LLC boosted its stake in shares of Traeger by 107.4% in the 3rd quarter. Drive Wealth Management LLC now owns 472,150 shares of the company’s stock worth $576,000 after buying an additional 244,493 shares during the last quarter. Finally, FreeGulliver LLC purchased a new position in shares of Traeger in the 4th quarter worth approximately $248,000. 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.