April 25, 2022, 4:27 p.m. EDT

Will Traeger Inc. (COOK) Be On Your List Of Penny Stocks In 2022?

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  • Stifel COOK Stock Forecast: Hold, Price Target Cut From $26 to $7.50

  • Morgan Stanley COOK Stock Forecast: Equal-Weight, Price Target Cut From $26 to $10

  • BMO Capital COOK Stock Forecast: Outperform, Price Target Cut From $23 to $16

  • Baird COOK Stock Forecast: Outperform, Price Target Cut From $20 to $12

While most of these stock market analysts hold bullish-leaning ratings, their price targets reflect a much different outlook. S&P recently revised its Traeger outlook to Negative from Positive on weak 2021 results citing higher leverage from the company.

The COOK stock forecast has come into question thanks to a slew of price target cuts and a downgrade from numerous firms. The current climate regarding discretionary spending during periods of higher inflation and continued supply chain disruptions has also put a focus on consumer stocks.

Should You Buy COOK Stock Right Now?

Is COOK stock a buy, or should you avoid it at all costs? As of this article, shares of Traeger are trading roughly 80% below last year's high of $32.59. Whether or not COOK stock is a buy might depend more heavily on how the company plans to grow while also decreasing its overall expenses. During the fourth quarter of 2021, sales and marketing expenses totaled $38.5 million, up from the previous year's $29.4 million in Q4, 2020.

Meanwhile, general and administrative expenses rose from $14.6 million to over $44 million during the same period. Net loss was $33.7 million compared to the previous year's $3.3 million net loss.

Traeger is still a newer company to the street and has some work to do as far as analysts are concerned. The company also directly said that it anticipates inflation and geopolitical unrest to impact consumer sentiment. Total revenue is expected to be between $800 million and $850 million for 2022, with adjusted EBITDA between $70 million and $80 million.

With Q1 earnings season in full swing, COOK stock could be in focus. The company anticipates revenues coming in between $208 million and $212 million for its first quarter in 2022. Will supply chain challenges and inflation negatively impact COOK stock, or will it pull an earnings surprise? If Traeger is on your list of stocks to watch, comment with your outlook for the company and whether or not you think new lows are in store.

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