Top investors say Traeger Inc. (COOK) ticks everything they need

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.

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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.


Institutional Ownership:

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.

Analysts Ratings:

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.

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