Traeger Inc. (NYSE: COOK) stock jumped 2.36% on Monday to $3.04 against a previous-day closing price of $2.97. With 0.66 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.63 million shares. During the session, the Furnishings Fixtures & Appliances company that operates in wider Consumer Cyclical sector, reached to the highest price of $3.0704 whereas the lowest price it dropped to was $2.9250. The 52-week range on COOK shows that it touched its highest point at $10.74 and its lowest point at $2.48 during that stretch. It currently has a 1-year price target of $4.26.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of COOK was up-trending over the past week, with a rise of 4.11%, but this was up by 11.36% over a month. Three-month performance dropped to -4.40% while six-month performance fell -13.88%. The stock lost -68.69% in the past year, while it has gained 7.80% so far this year. A look at the trailing 12-month EPS for COOK yields -3.23 with Next year EPS estimates of -0.04. For the next quarter, that number is -0.15. This implies an EPS growth rate of -394.00% for this year and 75.00% for next year.
Float and Shares Shorts:
At present, 119.92 million COOK shares are outstanding with a float of 110.15 million shares on hand for trading. On Oct 13, 2022, short shares totaled 7.76 million, which was 6.57% higher than short shares on Sep 14, 2022. In addition to Mr. Jeremy Andrus as the firm’s Chairman & CEO, Mr. Dominic Blosil serves as its Chief Financial Officer.
Through their ownership of 86.69% of COOK’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 5.46% of COOK, in contrast to 38.14% held by mutual funds. Shares owned by individuals account for 12.84%. As the largest shareholder in COOK with 20.14% of the stake, Ontario Teachers’ Pension Plan Bo holds 24,693,075 shares worth 24,693,075. A second-largest stockholder of COOK, Fidelity Management & Research Co, holds 8,025,916 shares, controlling over 6.55% of the firm’s shares. Capital Research & Management Co is the third largest shareholder in COOK, holding 5,224,267 shares or 4.26% stake. With a 20.14% stake in COOK, the Ontario Teachers Pension Plan is the largest stakeholder. A total of 24,694,164 shares are owned by the mutual fund manager. The Fidelity Small Cap Value Fund, which owns about 5.39% of COOK stock, is the second-largest Mutual Fund holder. It holds 6,605,000 shares valued at 18.63 million. American Funds Small Cap World Fu holds 5.05% of the stake in COOK, owning 6,195,000 shares worth 17.47 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for COOK since 11 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 8 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With COOK analysts setting a high price target of $6.00 and a low target of $3.00, the average target price over the next 12 months is $4.27. Based on these targets, COOK could surge 97.37% to reach the target high and fall by -1.32% to reach the target low. Reaching the average price target will result in a growth of 40.46% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. COOK will report FY 2022 earnings on 03/21/2024. Analysts have provided yearly estimates in a range of -$0.04 being high and -$0.23 being low. For COOK, this leads to a yearly average estimate of -$0.15. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Traeger Inc. surprised analysts by -$0.01 when it reported -$0.21 EPS against a consensus estimate of -$0.20. The surprise factor in the prior quarter was -$0.01. Based on analyst estimates, the high estimate for the next quarter is -$0.04 and the low estimate is -$0.23. The average estimate for the next quarter is thus -$0.14.
Summary of Insider Activity:
Insiders traded COOK stock several times over the past three months with 2 Buys and 0 Sells. In these transactions, 11,110 shares were bought while 0 shares were sold. The number of buy transactions has increased to 23 while that of sell transactions has risen to 2 over the past year. The total number of shares bought during that period was 2,350,360 while 33,002 shares were sold.