Drive Wealth Management LLC Purchases New Holdings in Traeger, Inc. (NYSE:COOK)

Drive Wealth Management LLC acquired a new position in shares of Traeger, Inc. (NYSE:COOK) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 32,168 shares of the company’s stock, valued at approximately $118,000.

Several other large investors also recently added to or reduced their stakes in COOK. SG Americas Securities LLC purchased a new position in shares of Traeger during the first quarter valued at $27,000. AQR Capital Management LLC purchased a new position in Traeger during the 2nd quarter valued at about $52,000. Squarepoint Ops LLC increased its holdings in shares of Traeger by 712.1% in the 2nd quarter. Squarepoint Ops LLC now owns 85,713 shares of the company’s stock valued at $206,000 after purchasing an additional 75,159 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Traeger in the second quarter worth approximately $345,000. Finally, Panagora Asset Management Inc. boosted its holdings in shares of Traeger by 19.4% during the second quarter. Panagora Asset Management Inc. now owns 182,484 shares of the company’s stock worth $438,000 after purchasing an additional 29,694 shares during the period. 46.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

COOK has been the topic of several research reports. Piper Sandler upped their price objective on shares of Traeger from $3.50 to $3.75 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $4.00 price target on shares of Traeger in a research note on Thursday, November 7th. Canaccord Genuity Group lifted their price objective on Traeger from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Robert W. Baird upped their target price on Traeger from $2.50 to $3.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada lifted their price target on Traeger from $2.50 to $2.75 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.00.

Traeger Stock Performance

Shares of NYSE COOK opened at $2.84 on Tuesday. The business’s 50-day simple moving average is $3.31 and its 200-day simple moving average is $2.85. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.08 and a current ratio of 2.09. Traeger, Inc. has a 52 week low of $1.97 and a 52 week high of $3.97. The firm has a market cap of $370.90 million, a price-to-earnings ratio of -7.10 and a beta of 1.25.

Traeger (NYSE:COOK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). Traeger had a negative return on equity of 10.57% and a negative net margin of 8.53%. The company had revenue of $122.05 million for the quarter, compared to the consensus estimate of $118.74 million. During the same quarter last year, the company posted ($0.16) earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities research analysts expect that Traeger, Inc. will post -0.12 earnings per share for the current fiscal year.

About Traeger

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.