In yesterday’s Wall Street session, Traeger Inc. (NYSE:COOK) shares traded at $3.24, down -14.06% from the previous session.
As of this writing, 10 analysts cover Traeger Inc. (NYSE:COOK). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $6.00 and a low of $3.00, we find $3.75. Given the previous closing price of $3.77, this indicates a potential downside of -0.53 percent. COOK stock price is now -8.15% away from the 50-day moving average and -8.66% away from the 200-day moving average. The market capitalization of the company currently stands at $415.11M.
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There are 8 analysts who have given it a hold rating, whereas 2 have given it a buy rating. Brokers who have rated the stock have averaged $4.07 as their price target over the next twelve months.
With the price target reduced from $6 to $4, Piper Sandler Downgraded its rating from Overweight to Neutral for Traeger Inc. (NYSE: COOK). On January 03, 2023, RBC Capital Mkts Downgraded its previous ‘Outperform’ rating to ‘Sector Perform’ on the stock reducing its target price from $4 to quote $3, while ‘William Blair’ rates the stock as ‘Mkt Perform’.
In other news, ANDRUS JEREMY, Chief Executive Officer bought 148,878 shares of the company’s stock on Oct 17. The stock was bought for $431,151 at an average price of $2.90. Upon completion of the transaction, the Chief Executive Officer now directly owns 9,123,599 shares in the company, valued at $29.56 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 08, Chief Executive Officer ANDRUS JEREMY bought 58,221 shares of the business’s stock. A total of $173,691 was incurred on buying the stock at an average price of $2.98. This leaves the insider owning 8,974,721 shares of the company worth $29.08 million. Insiders disposed of 33,002 shares of company stock worth roughly $0.11 million over the past 1 year. A total of 9.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in COOK stock. A new stake in Traeger Inc. shares was purchased by HRT FINANCIAL LP during the first quarter worth $586,000. MAN GROUP PLC invested $477,000 in shares of COOK during the first quarter. In the first quarter, GRAHAM CAPITAL MANAGEMENT, L.P. acquired a new stake in Traeger Inc. valued at approximately $471,000. GSA CAPITAL PARTNERS LLP acquired a new stake in COOK for approximately $415,000. JANE STREET GROUP, LLC purchased a new stake in COOK valued at around $356,000 in the second quarter. In total, there are 143 active investors with 85.60% ownership of the company’s stock.
Wednesday morning saw Traeger Inc. (NYSE: COOK) opened at $3.5500. During the past 12 months, Traeger Inc. has had a low of $2.48 and a high of $9.91. As of last week, the company has a debt-to-equity ratio of 1.23, a current ratio of 2.10, and a quick ratio of 0.70. The fifty day moving average price for COOK is $3.5360 and a two-hundred day moving average price translates $3.5397 for the stock.
The latest earnings results from Traeger Inc. (NYSE: COOK) was released for Sep, 2022. According to the Furnishings Fixtures & Appliances Company, earnings per share came in at -$0.21, missing analysts’ expectations of -$0.2 by -0.01. This compares to -$0.78 EPS in the same period last year. The net profit margin was -55.60% and return on equity was -73.20% for COOK. The company reported revenue of $93.79 million for the quarter, compared to $162.02 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -42.11 percent. For the current quarter, analysts expect COOK to generate $118.31M in revenue.
Traeger Inc.(COOK) Company Profile
Traeger, Inc., together with its subsidiaries, designs, sources, sells, and supports wood pellet fueled barbeque 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. The company also produces a library of digital content, including instructional recipes and videos that demonstrate tips, tricks, and cooking techniques that empower Traeger owners to progress their cooking skills; and short- and long-form branded content highlighting stories, community members, and lifestyle content from the Traegerhood. In addition, it provides wood pellets that are used to fire the grills; rubs and sauces, seasonings, and marinades; covers, drip trays, bucket liners, and shelves; tools to aid in meal prep, cooking, and cleanup, including pellet storage systems, cleaning solutions, barbecue tools, and MEATER smart thermometer; replacement parts; and apparel and merchandise. The company was incorporated in 2017 and is headquartered in Salt Lake City, Utah.
