Market News

Traeger Shares Prove Appetizing as Grill Stock Heats Up

Traeger (NYSE:COOK) is known—though not necessarily widely known—for its high-quality pellet grills and outdoor cooking supplies. With spring only days away and summer not too far, it’s little surprise that its stock is up over 17% at the time of writing. But it’s not just grilling season that has investors enthusiastic…it’s also earnings season.

Traeger posted a loss of $0.07 for its EPS totals. However, analysts were expecting a loss of $0.14. Although the $138.13 million it posted in revenue was down 21% in a year-over-year comparison, since analysts expected $118.54 million, Traeger won once again.

Looking forward, Traeger expects better gross margins in 2023, thanks to a slate of cost-cutting efforts and reductions in both freight and input costs. In addition, it looks for revenue to be between $560 million and $590 million, with consensus calling for $579.48 million.

Analysts are taking a wait-and-see posture as well, as the consensus calls Traeger stock a Hold. Nevertheless, with an average price target of $4.13, Traeger stock comes with 15.69% upside potential.


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