A History of Outperforming Analyst Forecasts and Beating the Odds: Traeger Inc. (COOK)

Traeger Inc. (NYSE: COOK) stock jumped 0.25% on Friday to $4.00 against a previous-day closing price of $3.99. With 0.8 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.64 million shares. During the session, the Furnishings Fixtures & Appliances company that operates in wider Consumer Cyclical sector, reached to the highest price of $4.0300 whereas the lowest price it dropped to was $3.9300. The 52-week range on COOK shows that it touched its highest point at $6.70 and its lowest point at $2.48 during that stretch. It currently has a 1-year price target of $5.31. Beta for the stock currently stands at 0.91.

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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 0.76%, but this was down by -16.32% over a month. Three-month performance dropped to -4.31% while six-month performance rose 32.89%. The stock gained 19.40% in the past year, while it has gained 41.84% so far this year. A look at the trailing 12-month EPS for COOK yields -2.34 with Next year EPS estimates of 0.09. For the next quarter, that number is -0.12. This implies an EPS growth rate of -303.90% for this year and 250.00% for next year.

Float and Shares Shorts:

At present, 123.03 million COOK shares are outstanding with a float of 60.14 million shares on hand for trading. On Aug 30, 2023, short shares totaled 3.17 million, which was 2.56% higher than short shares on Jul 30, 2023. In addition to COOP as the firm’s Mr. Cooper Group Inc., COO serves as its The Cooper Companies, Inc.

Institutional Ownership:

Through their ownership of 85.32% of COOK’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 38.39% of COOK, in contrast to 3.98% held by mutual funds. Shares owned by individuals account for 13.78%. As the largest shareholder in COOK with 19.92% 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 8,122,420 shares, controlling over 6.55% of the firm’s shares. Capital Research & Management Co is the third largest shareholder in COOK, holding 6,195,000 shares or 5.00% stake. With a 19.92% 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 5.33% of COOK stock, is the second-largest Mutual Fund holder. It holds 6,605,000 shares valued at 29.52 million. American Funds Small Cap World Fu holds 5.00% of the stake in COOK, owning 6,195,000 shares worth 27.69 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, COOK reported revenue of $200.27M and operating income of -$8.08M. The EBITDA in the recently reported quarter was -$4.54M and diluted EPS was -$1.13.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for COOK since 0 analysts follow the stock currently. 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 $7.00 and a low target of $4.00, the average target price over the next 12 months is $5.31.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded COOK stock several times over the past three months with 3 Buys and 20 Sells. In these transactions, 14,781 shares were bought while 43,742 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has risen to 20 over the past year. The total number of shares bought during that period was 1,563,549 while 43,742 shares were sold.

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