Traeger (COOK)
NYSE:COOK
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Traeger
(NYSE:COOK)
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Rating:50Neutral
Price Target:
$35.00
▼(-19.48% Downside)
Action:ReiteratedDate:04/16/26
The score is held back primarily by weak financial performance (ongoing losses, declining revenue, and elevated leverage despite better recent free cash flow). Technicals are moderately supportive near-term but remain mixed versus longer-term trend. The latest earnings call adds some support via cost-savings and free-cash-flow targets, but 2026 guidance points to a sizable revenue decline and margin headwinds, limiting upside confidence.
Positive Factors
Recurring consumables revenue
Traeger’s pellets and consumables show sustained repeat purchase behavior tied to an installed base. Durable consumables revenues diversify cash flows versus seasonal hardware, lift customer lifetime value, and provide recurring demand that supports margins and predictable cash generation over multiple years.
Negative Factors
Elevated leverage and shrinking equity
High net debt relative to a shrinking equity base increases financial risk and limits strategic flexibility. Elevated leverage raises interest and covenant sensitivity, constrains capital allocation for marketing/product investment, and makes the company more vulnerable to demand shocks until meaningful deleveraging occurs.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring consumables revenue
Traeger’s pellets and consumables show sustained repeat purchase behavior tied to an installed base. Durable consumables revenues diversify cash flows versus seasonal hardware, lift customer lifetime value, and provide recurring demand that supports margins and predictable cash generation over multiple years.
Read all positive factors
Traeger (COOK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$112.38M
Dividend YieldN/A
Average Volume (3M)705.62K
Price to Earnings (P/E)―
Beta (1Y)1.82
Revenue Growth-7.38%
EPS Growth-222.69%
CountryUS
Employees665
SectorConsumer Cyclical
Sector Strength84
IndustryFurnishings, Fixtures & Appliances
Share Statistics
EPS (TTM)-43.27
Shares Outstanding2,745,031
10 Day Avg. Volume970,569
30 Day Avg. Volume705,624
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.84
Price to Sales (P/S)0.26
P/FCF Ratio10.58
Enterprise Value/Market Cap4.62
Enterprise Value/Revenue0.93
Enterprise Value/Gross Profit2.57
Enterprise Value/Ebitda-13.58
Forecast
1Y Price Target
$44.58Price Target Upside2.56% Upside
Rating ConsensusHold
Number of Analyst Covering7
EPS Forecast (FY)-4.64
Revenue Forecast (FY)$472.70M
Traeger Business Overview & Revenue Model
Company Description
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 device...
How the Company Makes Money
Traeger makes money primarily by selling outdoor cooking hardware (pellet grills and related equipment) and by generating recurring revenue from consumables and add-on products that support installed grill owners.
Key revenue streams:
1) Grill an...
Traeger Earnings Call Summary
Earnings Call Date:Mar 05, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 11, 2026
Earnings Call Sentiment Neutral
The call conveyed a mixed but constructive view: Traeger reported fiscal 2025 results that beat guidance and showed operational progress (notably Project Gravity savings, consumables growth, improved adjusted EBITDA and better liquidity), while projecting a deliberate near-term pullback in revenue for fiscal 2026 driven by strategic channel exits, tariff-driven price elasticity, MEATER reset and inventory normalization. Management emphasized that many 2026 headwinds are timing- and strategy-related and positioned the year as a transition toward structurally higher margins and cash generation in 2027 and beyond.Positive Updates
Full-Year Outperformance vs Guidance
Fiscal 2025 revenue of $560 million came in above the high end of guidance and adjusted EBITDA was $70 million (upper half of range), demonstrating stronger-than-expected full-year execution.
Negative Updates
Significant Revenue Decline Guided for Fiscal 2026
Fiscal 2026 revenue guidance of $465 million to $485 million implies a year-over-year decline from $560 million (midpoint ~$475M, ~15% decline, roughly $85M at the midpoint) driven by Project Gravity channel exits, DTC wind-down, Costco roadshow exit and annualization of price elasticity.
Read all updates
Q4-2025 Updates
Positive
Negative
Full-Year Outperformance vs Guidance
Fiscal 2025 revenue of $560 million came in above the high end of guidance and adjusted EBITDA was $70 million (upper half of range), demonstrating stronger-than-expected full-year execution.
Read all positive updates
Company Guidance
Traeger guided fiscal 2026 to revenue of $465 million to $485 million and adjusted EBITDA of $50 million to $60 million (with Project Gravity expected to deliver roughly $50 million of adjusted EBITDA benefit in 2026—~$30 million incremental on top of ~$20 million realized in 2025), gross margin of 38%–39% (noted as down 120 basis points to down 20 basis points versus fiscal 2025), and at least $30 million of free cash flow; first‑quarter 2026 guidance is revenue of $92 million–$97 million and adjusted EBITDA of $3 million–$7 million, management expects sell‑through to be significantly higher than sell‑in in 2026 with an exit to owned in‑channel inventory aligned to the new grill architecture, noted Project Gravity total run‑rate value of ~$64–$70 million (including an incremental $6–$12 million of SKU/pricing capture mostly in 2027–28), and stated the outlook is based on the tariff framework in effect through mid‑February (excluding more recent changes).Traeger Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
28
Negative
Cash Flow
56
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 559.52M | 604.07M | 605.88M | 655.90M | 785.54M |
| Gross Profit | 178.29M | 255.47M | 223.56M | 228.77M | 300.76M |
| EBITDA | 52.97M | 53.86M | 6.64M | -296.52M | -16.13M |
| Net Income | -115.18M | -34.01M | -84.40M | -382.14M | -91.77M |
Balance Sheet | |||||
| Total Assets | 675.98M | 830.68M | 860.76M | 946.72M | 1.18B |
| Cash, Cash Equivalents and Short-Term Investments | 19.62M | 14.98M | 29.92M | 39.05M | 16.74M |
| Total Debt | 425.53M | 434.13M | 458.70M | 494.25M | 420.53M |
| Total Liabilities | 505.13M | 554.25M | 569.41M | 611.85M | 571.50M |
| Stockholders Equity | 170.85M | 276.43M | 291.35M | 334.87M | 606.02M |
Cash Flow | |||||
| Free Cash Flow | 13.59M | 11.89M | 43.64M | -13.81M | -51.47M |
| Operating Cash Flow | 20.52M | 23.89M | 64.04M | 5.09M | -28.43M |
| Investing Cash Flow | -7.33M | -12.33M | -17.38M | -18.90M | -79.90M |
| Financing Cash Flow | -8.54M | -26.50M | -68.30M | 48.63M | 113.51M |
Traeger Technical Analysis
Positive
43.47
Price Trends
35.87
Positive
42.76
Positive
54.59
Negative
Market Momentum
1.34
Negative
70.06
Negative
87.71
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For COOK, the sentiment is Positive. The current price of 43.47 is above the 20-day moving average (MA) of 31.62, above the 50-day MA of 35.87, and below the 200-day MA of 54.59, indicating a neutral trend. The MACD of 1.34 indicates Negative momentum. The RSI at 70.06 is Negative, neither overbought nor oversold. The STOCH value of 87.71 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for COOK.
Traeger Risk Analysis
Traeger disclosed 80 risk factors in its most recent earnings report. Traeger reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Traeger Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $278.06M | 2.98 | 15.70% | 2.99% | -7.31% | -12.23% | |
69 Neutral | $529.79M | 23.98 | 9.20% | 7.86% | -4.79% | -30.21% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | $152.01M | -3.18 | -13.50% | 4.51% | -5.13% | -75.13% | |
50 Neutral | $112.38M | -1.25 | -50.59% | ― | -7.38% | -222.69% | |
48 Neutral | $124.61M | 29.10 | 3.24% | 4.59% | 2.44% | ― | |
45 Neutral | $71.43M | -1.49 | 25.91% | ― | -16.10% | -540.42% |
* Consumer Cyclical Sector Average
COOK
Traeger
40.94
-31.06
-43.14%
BSET
Bassett Furniture
14.41
-2.59
-15.26%
ETD
Ethan Allen
20.82
-6.38
-23.46%
LCUT
Lifetime Brands
6.71
3.39
102.11%
SNBR
Sleep Number
3.10
-3.97
-56.15%
HBB
Hamilton Beach Brands Holding Company
20.48
6.35
44.93%
Traeger Corporate Events
Executive/Board ChangesFinancial Disclosures
Traeger Board Grants Discretionary Bonuses Despite Incentive Miss
Negative
Mar 27, 2026
On March 26, 2026, Traeger, Inc.’s Board of Directors concluded that performance goals under the company’s 2025 annual cash incentive program were not met, resulting in no incentive payments to its named executive officers for that per...
Delistings and Listing ChangesRegulatory Filings and ComplianceStock Split
Traeger Executes 1-for-50 Reverse Stock Split on NYSE
Neutral
Mar 17, 2026
On March 17, 2026, Traeger effected a 1-for-50 reverse stock split of its common stock by filing a certificate of amendment to its Delaware charter, with trading on a split-adjusted basis beginning on the NYSE on March 18 under the existing COOK s...
Delistings and Listing ChangesShareholder MeetingsStock Split
Traeger Sets 1-for-50 Reverse Stock Split Ratio
Neutral
Mar 12, 2026
On March 2, 2026, Traeger stockholders approved an amendment allowing a reverse split, and on March 12, 2026, the board set the final ratio at 1-for-50 for all outstanding common shares. The move is designed to lift the company’s per-share t...
Delistings and Listing ChangesRegulatory Filings and ComplianceShareholder MeetingsStock Split
Traeger Addresses NYSE Listing Deficiency with Reverse Split
Negative
Mar 6, 2026
On March 5, 2026, Traeger received notice from the New York Stock Exchange that its shares had traded below the $1.00 minimum average closing price over a 30-day period ending March 4, putting the company out of compliance with NYSE listing standa...
Delistings and Listing ChangesRegulatory Filings and ComplianceStock Split
Traeger Regains NYSE Compliance, Weighs Possible Reverse Split
Positive
Feb 5, 2026
On November 19, 2025, Traeger, Inc. was notified by the New York Stock Exchange that it was out of compliance with listing standards because its average closing share price had fallen below $1.00 over a 30-day trading period. The company disclosed...
Executive/Board Changes
Traeger announces immediate resignation of Class II director
Neutral
Jan 29, 2026
On January 27, 2026, Traeger, Inc. announced that Class II director Harjit Shoan resigned from its Board of Directors, effective immediately. The company clarified that Shoan’s resignation was not due to any disagreement with the company, in...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.