Traeger, Inc. (NYSE:COOK – Get Rating) CEO Jeremy Andrus bought 10,423 shares of the stock in a transaction dated Wednesday, September 7th. The shares were purchased at an average price of $2.80 per share, with a total value of $29,184.40. Following the completion of the transaction, the chief executive officer now directly owns 8,916,500 shares in the company, valued at approximately $24,966,200. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Traeger Stock Up 7.8 %
Shares of Traeger stock traded up $0.24 during trading on Friday, hitting $3.32. 1,528,538 shares of the stock traded hands, compared to its average volume of 1,125,311. The firm has a market cap of $392.55 million and a P/E ratio of -1.47. The company has a current ratio of 1.53, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. Traeger, Inc. has a 52-week low of $2.52 and a 52-week high of $24.90. The stock's fifty day simple moving average is $3.49 and its 200 day simple moving average is $5.51.
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Traeger (NYSE:COOK – Get Rating) last announced its quarterly earnings results on Wednesday, August 10th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). The firm had revenue of $200.27 million for the quarter, compared to analyst estimates of $207.10 million. Traeger had a negative return on equity of 14.23% and a negative net margin of 34.64%. The business's revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 earnings per share. On average, equities analysts predict that Traeger, Inc. will post -0.5 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Traeger
Several institutional investors have recently made changes to their positions in COOK. Advisor Group Holdings Inc. increased its stake in shares of Traeger by 60.8% during the fourth quarter. Advisor Group Holdings Inc. now owns 3,632 shares of the company's stock valued at $44,000 after buying an additional 1,373 shares during the period. Trexquant Investment LP purchased a new position in Traeger in the second quarter valued at about $47,000. Brown Advisory Inc. purchased a new position in Traeger in the second quarter valued at about $49,000. Arizona State Retirement System purchased a new position in Traeger in the second quarter valued at about $61,000. Finally, Legal & General Group Plc grew its stake in Traeger by 89.1% in the second quarter. Legal & General Group Plc now owns 15,848 shares of the company's stock valued at $68,000 after purchasing an additional 7,467 shares during the last quarter. Hedge funds and other institutional investors own 43.01% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on COOK shares. Piper Sandler lowered their price target on Traeger from $10.00 to $7.00 in a research report on Thursday, May 12th. Robert W. Baird downgraded Traeger from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $7.00 to $4.00 in a research report on Thursday, August 11th. Royal Bank of Canada lowered their price target on Traeger from $12.00 to $7.00 and set an "outperform" rating for the company in a research report on Thursday, August 11th. Credit Suisse Group lowered Traeger from an "outperform" rating to a "neutral" rating and reduced their target price for the stock from $9.00 to $4.00 in a research note on Tuesday, July 26th. Finally, William Blair lowered Traeger from an "outperform" rating to a "market perform" rating in a research note on Thursday, August 11th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Traeger presently has a consensus rating of "Hold" and an average price target of $6.94.
Traeger Company Profile
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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.
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