Traeger (NYSE:COOK) Stock Price Down 7.4% – What’s Next?

Shares of Traeger, Inc. (NYSE:COOK) dropped 7.4% during trading on Wednesday . The company traded as low as $29.00 and last traded at $27.6950. Approximately 2,473 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 8,764 shares. The stock had previously closed at $29.9150.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COOK. Piper Sandler lowered their price objective on shares of Traeger from $75.00 to $37.50 and set a “neutral” rating on the stock in a research report on Friday, March 6th. Canaccord Genuity Group cut their target price on shares of Traeger from $150.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, March 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Traeger in a research report on Monday, December 29th. Telsey Advisory Group dropped their price target on Traeger from $75.00 to $50.00 and set a “market perform” rating for the company in a research note on Friday, March 6th. Finally, Zacks Research upgraded Traeger from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $58.00.

Traeger Trading Down 10.4%

The company has a quick ratio of 1.45, a current ratio of 2.68 and a debt-to-equity ratio of 2.34. The stock’s fifty day moving average price is $44.57 and its two-hundred day moving average price is $49.85. The company has a market capitalization of $81.78 million, a PE ratio of -0.69 and a beta of 1.41.

Traeger (NYSE:COOK) last released its quarterly earnings results on Friday, March 6th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.99). The company had revenue of $145.36 million during the quarter, compared to the consensus estimate of $135.05 million. Traeger had a negative net margin of 20.59% and a negative return on equity of 12.01%. Sell-side analysts anticipate that Traeger, Inc. will post -0.12 earnings per share for the current year.

Institutional Trading of Traeger

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in shares of Traeger by 36.6% during the fourth quarter. Bank of America Corp DE now owns 33,314 shares of the company’s stock valued at $80,000 after buying an additional 8,933 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Traeger by 9.3% in the first quarter. Empowered Funds LLC now owns 167,696 shares of the company’s stock worth $282,000 after purchasing an additional 14,271 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Traeger during the second quarter valued at $57,000. Marshall Wace LLP lifted its stake in Traeger by 371.7% during the 2nd quarter. Marshall Wace LLP now owns 130,666 shares of the company’s stock valued at $223,000 after acquiring an additional 102,967 shares during the period. Finally, Diversify Wealth Management LLC lifted its stake in Traeger by 32.8% during the 2nd quarter. Diversify Wealth Management LLC now owns 114,561 shares of the company’s stock valued at $196,000 after acquiring an additional 28,313 shares during the period. 46.84% of the stock is owned by institutional investors.

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.