10 Best Home Appliance Stocks to Buy According to Analysts

4. Traeger, Inc. (NYSE:COOK)

Analyst Upside: 56.90%

Traeger, Inc. (NYSE:COOK) sells, designs, and sources wood pellet-fueled barbecue grills. Its integrated platform offers various types of products, including gas griddles, grilling accessories, wood pellet grills, and others. The company also sells the pellets used to fire the grills and its private brand spices, rubs, sauces, and grilling accessories, including tools, MEATER smart thermometers, grill covers, and other ancillary items.

In addition, Traeger, Inc.’s (NYSE:COOK) flagship wood pellet grills are IoT devices that allow users to control, monitor, and program their grill through the company’s Traeger app. The company returned to its top-line growth in fiscal Q3 2024, experiencing a 4% revenue growth. This was attributed to the company’s strong performance in its growth category, which was 32% compared to the prior year. The company’s profitability also improved significantly in fiscal Q3 2024. Its gross margin expanded by 440 basis points, driven by its margin enhancement initiatives and other external factors. The growth of the company’s grille business reflects strong sell-through at retail during fiscal Q3 2024. This was because of Traeger, Inc.’s strategy to lead into promotions.

The company boasts strong brand health, as its research found that Traeger, Inc.’s (NYSE:COOK) unaided brand awareness increased by approximately 20% as of fiscal Q3 2024 compared to 2022. The company ranks fourth on our list of the best home appliance stocks to buy according to analysts.