Traeger's Sales Decline and Margin Pressures Warrant Hold Rating

William Blair analyst Phillip Blee maintains a Hold rating on Traeger's stock due to significant sales decline and margin pressures. Q2 sales fell 13.6% YoY, exceeding expected 1.2% decline, primarily driven by grill sales drop. Management's full-year 2025 guidance, which predicts an 8-11% sales decline, also contributes to the Hold rating. Gross margin pressures from tariff-related costs are mitigated through pricing strategies and supplier negotiations. Corporate insider sentiment is positive, with 25 insiders buying their shares over the past quarter.