Royal Bank of Canada Issues Positive Forecast for Traeger (NYSE:COOK) Stock Price

Traeger (NYSE:COOK) had its price objective increased by Royal Bank of Canada from $2.50 to $2.75 in a research report report published on Thursday morning,Benzinga reports. The firm currently has a sector perform rating on the stock.

Several other equities research analysts have also recently weighed in on COOK. Piper Sandler upped their price target on Traeger from $3.50 to $3.75 and gave the stock a “neutral” rating in a research note on Thursday. Canaccord Genuity Group upped their price target on shares of Traeger from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday. Robert W. Baird increased their target price on Traeger from $2.50 to $3.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $4.00 price target on shares of Traeger in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $3.83.

Traeger Price Performance

Shares of NYSE COOK traded down $0.13 during midday trading on Thursday, hitting $3.14. 230,849 shares of the company’s stock were exchanged, compared to its average volume of 267,914. The company has a current ratio of 2.04, a quick ratio of 1.21 and a debt-to-equity ratio of 1.34. Traeger has a 12-month low of $1.97 and a 12-month high of $3.97. The company has a market cap of $406.54 million, a price-to-earnings ratio of -7.98 and a beta of 1.25. The business’s fifty day moving average price is $3.38 and its two-hundred day moving average price is $2.80.

Traeger (NYSE:COOK) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $168.47 million for the quarter, compared to analysts’ expectations of $168.07 million. Traeger had a negative return on equity of 12.65% and a negative net margin of 8.50%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.23) earnings per share. As a group, research analysts forecast that Traeger will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Traeger

Institutional investors have recently made changes to their positions in the business. Empowered Funds LLC grew its position in Traeger by 5.3% during the third quarter. Empowered Funds LLC now owns 145,763 shares of the company’s stock valued at $536,000 after buying an additional 7,370 shares during the period. Diversify Wealth Management LLC boosted its stake in shares of Traeger by 5.4% during the 3rd quarter. Diversify Wealth Management LLC now owns 164,547 shares of the company’s stock worth $606,000 after acquiring an additional 8,499 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Traeger during the 1st quarter valued at $27,000. AQR Capital Management LLC bought a new stake in shares of Traeger during the 2nd quarter valued at $52,000. Finally, Norden Group LLC purchased a new stake in shares of Traeger in the 1st quarter worth $59,000. Institutional investors own 46.84% of the company’s stock.

Traeger Company Profile

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.