Traeger’s (COOK) “Outperform” Rating Reiterated at Telsey Advisory Group

Traeger (NYSE:COOK)‘s stock had its “outperform” rating reissued by equities research analysts at Telsey Advisory Group in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $4.00 price target on the stock. Telsey Advisory Group’s price objective suggests a potential upside of 29.03% from the company’s current price.

A number of other research analysts also recently commented on COOK. Piper Sandler raised shares of Traeger from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada lifted their price target on Traeger from $2.00 to $2.50 and gave the stock a “sector perform” rating in a report on Thursday, August 8th. Finally, Robert W. Baird upped their price objective on Traeger from $2.50 to $3.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Traeger currently has a consensus rating of “Moderate Buy” and an average price target of $3.30.

Traeger Price Performance

Shares of NYSE COOK opened at $3.10 on Wednesday. Traeger has a fifty-two week low of $1.97 and a fifty-two week high of $3.97. The stock has a market capitalization of $399.50 million, a price-to-earnings ratio of -4.70 and a beta of 1.23. The company has a debt-to-equity ratio of 1.34, a current ratio of 2.04 and a quick ratio of 1.21. The business has a 50-day moving average of $3.44 and a 200-day moving average of $2.75.

Traeger (NYSE:COOK) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. The firm had revenue of $168.47 million for the quarter, compared to analyst estimates of $168.07 million. Traeger had a negative return on equity of 12.65% and a negative net margin of 8.50%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.23) EPS. As a group, sell-side analysts predict that Traeger will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Traeger

Several hedge funds have recently bought and sold shares of the stock. Diversify Wealth Management LLC increased its stake in shares of Traeger by 5.4% during the third quarter. Diversify Wealth Management LLC now owns 164,547 shares of the company’s stock worth $606,000 after purchasing an additional 8,499 shares during the period. SG Americas Securities LLC acquired a new position in Traeger in the 3rd quarter valued at $51,000. AQR Capital Management LLC bought a new position in Traeger during the 2nd quarter worth $52,000. Squarepoint Ops LLC lifted its holdings in shares of Traeger by 712.1% during the second quarter. Squarepoint Ops LLC now owns 85,713 shares of the company’s stock worth $206,000 after buying an additional 75,159 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Traeger in the second quarter valued at about $345,000. 46.84% of the stock is currently owned by institutional investors and hedge funds.

Traeger Company Profile

Traeger, Inc, together with its subsidiaries, designs, sources, sells, and supports wood pellet fueled barbecue grills for retailers, distributors, and direct to consumers in the United States. Its wood pellet grills are internet of things devices that allow owners to program, monitor, and control their grill through its Traeger app.