Ticker: COOK | $1.47 (+8.89%) as of Jun-06-2025 4:10PM ET 🔥 
📍 Salt Lake City, UT | Grill Capital of the IoT Universe
🧑🍳 Category: Insider Buys | Contrarian Picks | Turnaround Tales | Young Guns

🍖 Traeger: Where Smoke Meets Signals

Traeger, Inc. isn’t just a barbecue company—it’s a lifestyle. A lifestyle where grills connect to Wi-Fi, recipes stream from apps, and your steak gets tech support. Seriously.

This Utah-based outfit makes Internet-of-Things wood pellet grills that cook your ribs while you're on a Zoom call. It also serves up a sizzling library of content—from BBQ tips to “Traegerhood” lifestyle stories. Think backyard Food Network, but with more brisket.

💸 Insider Action: CEO Just Tossed Another $1M on the Fire

CEO Jeremy Andrus isn’t just flipping burgers—he’s flipping shares into his portfolio like a man who smells value.

Recent Buys Include:

• 📅 Jun 4: 727,187 shares @ $1.38 → 💵 $1,006,182

• 📅 May 23: 226,684 shares @ $2.21 → 💵 $500,428

• 📅 Mar 13: 396,689 shares @ $2.35 → 💵 $933,006

• …and many more (Chef Jeremy’s got grill marks and conviction)

👀 Insiders now own 18% of the float. Institutional whales? Not so much—none over 5%. But if the company starts sizzling, the stampede could get real.

🔍 For full Institutional Ownership breakdown, see here.

🧾 Traeger’s Q1 2025 Recipe: Mixed Grill

🧂 Flavorful Results with a Few Burnt Edges

• 🥩 Grill Sales: 🔼 +12.8% to $86.7M (New Woodridge line, a hit!)

• 🌽 Consumables: 🔻 -6.1% (pellets + sauces not flying off shelves)

• 🧂 Accessories: 🔻 -26.6% (MEATER thermometer sales were, well, not well done)

Total Revenue: $143.3M (-1.1%)
Net Loss: Just $0.8M (-83% YoY) = 👏 not bad
Adj. EBITDA: $22.5M = still smokin’
Gross Margin: 41.5% vs. 43.2% last year = not ideal, but manageable

📦 Inventory? $127.2M. Yep. That’s a lot of grills.
💰 Cash on hand? $12M. Smells like urgency.

👉 Want the full picture? Dive into Traeger’s financials here.

📉 Why The Heat's Still On

Despite the tasty Q1 grill sales, the company is withdrawing full-year guidance due to:

• 🌎 Trade war whiplash (tariffs, China uncertainty)

• 💸 Fragile consumer sentiment

• 🧾 Supply chain headwinds

• 🔧 MEATER undercooked performance

But they’re fighting back with:

• 🛠️ Cost cuts

• 📦 Inventory slow-down

• 🌍 Manufacturing relocation out of China

• 💵 Strategic price hikes

In short: they’re firing up the smoker but watching the propane bill closely.

📊 Valuation: BBQ Bargain or Charred Risk?

Traeger’s stock may be down—but it’s not out.

Valuation Metrics:

• 🔍 Price/Sales: 0.31

• 📚 Price/Book: 0.71

• 🛠️ EV/Revenue: 1.06

That’s grill-cheap—if management delivers. The firm isn’t profitable yet, but it’s trending in the right direction.

⚠️ Investor’s Caution Board

🥄 Pros:

• CEO is loading up on shares like he’s prepping for an apocalypse cookout

• Grills are selling

• Margins still respectable

• Adjusted net income and EBITDA? Holding up

• If the turnaround works, current share price may be an absolute steal

🔥 Risks:

• Cash burn = watch closely

• Big inventories = delayed revenue

• MEATER drag = annoying tech misfire

• Trade war & tariffs = total wildcards

• No institutional momentum… yet

Interested in another investment idea?
Check our take on UnitedHealth Group.

🧠 Final Thoughts: Tongs Up or Tongs Down?

COOK could be a sleeper stock ready to fire up the portfolio grill—if, and only if, this CEO-led turnaround doesn’t fizzle. It's high risk, high reward, with flavor potential.

🥩 Are we bullish? Cautiously.
🍔 Are we buying the dip? Maybe just a slider.
🌭 Will it be delicious? TBD.

📛 Disclaimer: We’re not chefs, financial or otherwise. But if Jeremy Andrus is still cooking, we’re at least sticking around for a taste. Invest at your own risk—and maybe with a meat thermometer.

🧭 Want More Like This?

👉 Browse our Insider Purchases Center
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