Traeger (NYSE:COOK) Cut to Hold at Zacks Research

Traeger (NYSE:COOK) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

A number of other brokerages have also recently issued reports on COOK. Wall Street Zen upgraded Traeger from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $43.00 target price (up from $37.50) on shares of Traeger in a research note on Friday. Robert W. Baird set a $40.00 price target on shares of Traeger in a research report on Tuesday, May 12th. Piper Sandler restated a “neutral” rating and set a $38.00 price target on shares of Traeger in a research note on Tuesday, May 12th. Finally, Canaccord Genuity Group set a $77.00 price objective on shares of Traeger and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $50.50.

Traeger Stock Performance

COOK opened at $61.93 on Thursday. Traeger has a 1-year low of $20.91 and a 1-year high of $86.59. The company has a market cap of $172.18 million, a price-to-earnings ratio of -1.47 and a beta of 1.97. The company’s fifty day moving average price is $68.11 and its two-hundred day moving average price is $51.11. The company has a current ratio of 3.40, a quick ratio of 2.01 and a debt-to-equity ratio of 2.29.

Traeger (NYSE:COOK) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.53 earnings per share (EPS) for the quarter, topping 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 13.56%. The business had revenue of $120.16 million during the quarter, compared to the consensus estimate of $133.20 million. On average, analysts expect that Traeger will post -2.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Traeger

A number of institutional investors and hedge funds have recently modified their holdings of COOK. Lido Advisors LLC purchased a new position in Traeger during the third quarter valued at approximately $27,000. RFP Financial Group LLC bought a new stake in Traeger during the 4th quarter worth approximately $27,000. Caz Investments LP lifted its stake in Traeger by 100.0% in the 4th quarter. Caz Investments LP now owns 40,000 shares of the company’s stock worth $43,000 after purchasing an additional 20,000 shares in the last quarter. XTX Topco Ltd purchased a new stake in Traeger in the 2nd quarter worth approximately $57,000. Finally, Bank of America Corp DE lifted its stake in Traeger by 36.6% in the 4th quarter. Bank of America Corp DE now owns 33,314 shares of the company’s stock worth $80,000 after purchasing an additional 8,933 shares in the last quarter. 46.84% of the stock is owned by hedge funds and other institutional investors.

Traeger Company Profile

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.