Traeger (COOK)
NYSE:COOK
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Traeger
(NYSE:COOK)
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Rating:57Neutral
Price Target:
$56.00
▲(28.82% Upside)
Action:Reiterated
Date:05/20/26
The score is held back primarily by weak financial performance (declining revenue, ongoing losses, and high leverage), partially offset by improving free cash flow and constructive earnings-call guidance. Technical momentum is currently strong but appears stretched, while valuation looks inexpensive on P/E yet remains constrained by profitability and no dividend. Corporate events add modest additional downside risk due to listing-compliance and governance optics.
Positive Factors
Brand Engagement & Ecosystem
Sustained, rising organic engagement and a large ambassador program expand low-cost customer acquisition and reinforce brand loyalty. Over the medium term this supports repeat consumable and accessory sales, improving lifetime value and reducing marketing spend per customer as hardware installs compound.
Negative Factors
Declining Revenue & Grill Sales
Material top-line declines, and a steep drop in core grill sales, shrink the installed base that drives consumable repeat purchases. Persistent revenue erosion pressures operating leverage, reduces scale benefits, and makes it harder to sustainably rebuild margins and long-term growth without clear demand stabilization.
Read all positive and negative factors
Positive Factors
Negative Factors
Brand Engagement & Ecosystem
Sustained, rising organic engagement and a large ambassador program expand low-cost customer acquisition and reinforce brand loyalty. Over the medium term this supports repeat consumable and accessory sales, improving lifetime value and reducing marketing spend per customer as hardware installs compound.
Read all positive factors
Traeger (COOK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$156.87M
Dividend YieldN/A
Average Volume (3M)705.62K
Price to Earnings (P/E)6.7
Beta (1Y)1.89
Revenue Growth-15.29%
EPS Growth-254.13%
CountryUS
Employees665
SectorConsumer Cyclical
Sector Strength84
IndustryFurnishings, Fixtures & Appliances
Share Statistics
EPS (TTM)-41.69
Shares Outstanding2,781,807
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 Cap3.49
Enterprise Value/Revenue1.07
Enterprise Value/Gross Profit2.96
Enterprise Value/Ebitda-12.86
Forecast
1Y Price Target
$45.92Price Target Upside5.63% Upside
Rating ConsensusHold
Number of Analyst Covering7
EPS Forecast (FY)-1.24
Revenue Forecast (FY)$471.32M
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:May 11, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Neutral
The call presents a balanced picture: strong brand engagement, promising early product launch momentum (Westwood and Irontop), meaningful cost and inventory reductions from Project Gravity and improved cash generation supported by an IEEPA tariff refund that allowed management to raise adjusted EBITDA and gross margin guidance. Offsetting these positives are material top-line declines (Q1 revenue down 34%, grills down 45%), pressure on adjusted EBITDA and underlying gross margin when excluding the tariff benefit, MEATER-related challenges, and ongoing tariff and macro uncertainties. Given the comparable weight of operational/financial improvements and significant revenue/margin headwinds, the overall tone is cautiously optimistic but pragmatic.Positive Updates
Strong Brand Engagement
Social engagement up over 30% year-over-year in Q1 with 65% of organic impressions coming from nonfollowers; brand ambassadors generated ~170 million impressions across more than 3,000 posts in the quarter and the ambassador program delivers over 1 billion impressions annually.
Negative Updates
Significant Revenue Decline
First quarter revenue declined 34% year-over-year to $94 million, reflecting difficult prior-year comparables, pull-forward ordering ahead of tariffs, deliberate channel optimization (exit of Costco roadshow and winding down DTC) and mix shifts to lower-priced grills.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Brand Engagement
Social engagement up over 30% year-over-year in Q1 with 65% of organic impressions coming from nonfollowers; brand ambassadors generated ~170 million impressions across more than 3,000 posts in the quarter and the ambassador program delivers over 1 billion impressions annually.
Read all positive updates
Company Guidance
Management reiterated full‑year revenue guidance of $465–$485 million, raised adjusted EBITDA to $57–$67 million and increased gross margin guidance to 39.5%–40.5%, while keeping free cash flow guidance > $30 million (the $15.6 million IEEPA receivable—$12.4 million booked in Q1—is not included until converted to cash, which management expects in ~60–90 days). They said Project Gravity is expected to deliver roughly $50 million of value capture in ’26 (about $30 million incremental this year) and a longer‑term run‑rate benefit of ~$64–$70 million, with guidance holding offsets for MEATER competitive pressure, rising transport/fuel costs (≈$1M impact) and tariff uncertainty. Key balance‑sheet/liquidity metrics cited: $34 million cash, $403 million total debt ($370 million net debt), $184 million total liquidity, undrawn $112.5 million revolver; Q1 produced $14.5 million free cash flow and $17 million adjusted EBITDA (including the $12.4 million IEEPA benefit).Traeger Financial Statement Overview
Summary
Income Statement
32
Negative
Balance Sheet
38
Negative
Cash Flow
57
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 510.30M | 559.52M | 604.07M | 605.88M | 655.90M | 785.54M |
| Gross Profit | 185.28M | 178.29M | 255.47M | 223.56M | 228.77M | 300.76M |
| EBITDA | -42.64M | 52.97M | 53.86M | 6.64M | -296.52M | -16.13M |
| Net Income | -111.47M | -115.18M | -34.01M | -84.40M | -382.14M | -91.77M |
Balance Sheet | ||||||
| Total Assets | 661.65M | 675.98M | 830.68M | 860.76M | 946.72M | 1.18B |
| Cash, Cash Equivalents and Short-Term Investments | 33.69M | 19.62M | 14.98M | 29.92M | 39.05M | 16.74M |
| Total Debt | 424.93M | 425.53M | 434.13M | 458.70M | 494.25M | 420.53M |
| Total Liabilities | 486.85M | 505.13M | 554.25M | 569.41M | 611.85M | 571.50M |
| Stockholders Equity | 174.80M | 170.85M | 276.43M | 291.35M | 334.87M | 606.02M |
Cash Flow | ||||||
| Free Cash Flow | 50.75M | 13.59M | 11.89M | 43.64M | -13.81M | -51.47M |
| Operating Cash Flow | 59.25M | 20.52M | 23.89M | 64.04M | 5.09M | -28.43M |
| Investing Cash Flow | -8.92M | -7.33M | -12.33M | -17.38M | -18.90M | -79.90M |
| Financing Cash Flow | -28.68M | -8.54M | -26.50M | -68.30M | 48.63M | 113.51M |
Traeger Technical Analysis
Positive
43.47
Price Trends
37.57
Positive
41.88
Positive
48.48
Positive
Market Momentum
4.58
Negative
70.62
Negative
81.31
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 below the 20-day moving average (MA) of 44.90, above the 50-day MA of 37.57, and below the 200-day MA of 48.48, indicating a bullish trend. The MACD of 4.58 indicates Negative momentum. The RSI at 70.62 is Negative, neither overbought nor oversold. The STOCH value of 81.31 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 |
|---|---|---|---|---|---|---|---|
69 Neutral | $502.31M | 23.98 | 8.46% | 7.86% | -4.79% | -30.21% | |
66 Neutral | $201.81M | -6.53 | -14.29% | 4.51% | -4.32% | -107.16% | |
63 Neutral | $265.62M | 18.17 | 15.70% | 2.99% | -9.75% | -14.57% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
57 Neutral | $156.87M | 6.72 | -55.32% | ― | -15.29% | -254.13% | |
48 Neutral | $126.60M | 29.10 | 3.24% | 4.59% | 2.44% | ― | |
42 Neutral | $39.41M | -0.13 | 31.47% | ― | -16.69% | -698.31% |
* Consumer Cyclical Sector Average
COOK
Traeger
56.39
-8.61
-13.25%
BSET
Bassett Furniture
14.64
-1.01
-6.47%
ETD
Ethan Allen
19.74
-4.46
-18.42%
LCUT
Lifetime Brands
8.83
5.74
185.76%
SNBR
Sleep Number
1.71
-7.50
-81.43%
HBB
Hamilton Beach Brands Holding Company
19.61
2.33
13.48%
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...
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.