Telsey Advisory Group Reiterates “Outperform” Rating for Traeger (NYSE:COOK)

Telsey Advisory Group reiterated their outperform rating on shares of Traeger (NYSE:COOK) in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has a $4.00 price target on the stock.

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

Traeger Price Performance

Shares of Traeger stock opened at $3.16 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 2.04 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $409.11 million, a price-to-earnings ratio of -7.71 and a beta of 1.23. The company has a 50-day simple moving average of $3.43 and a two-hundred day simple moving average of $2.76. Traeger has a twelve month low of $1.97 and a twelve month high of $3.97.

Traeger (NYSE:COOK) last issued its earnings results on Tuesday, August 6th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. The company had revenue of $168.47 million during the quarter, compared to analysts’ expectations of $168.07 million. Traeger had a negative net margin of 8.50% and a negative return on equity of 12.65%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.23) EPS. Analysts forecast that Traeger will post -0.12 EPS for the current year.

Institutional Investors Weigh In On Traeger

A number of institutional investors and hedge funds have recently made changes to their positions in COOK. SG Americas Securities LLC purchased a new stake in shares of Traeger during the 1st quarter worth approximately $27,000. AQR Capital Management LLC bought a new position in shares of Traeger during the 2nd quarter valued at about $52,000. Norden Group LLC purchased a new position in shares of Traeger during the first quarter worth approximately $59,000. Squarepoint Ops LLC lifted its stake in Traeger by 712.1% in the second quarter. Squarepoint Ops LLC now owns 85,713 shares of the company’s stock worth $206,000 after purchasing an additional 75,159 shares during the last quarter. Finally, Empowered Funds LLC boosted its holdings in Traeger by 398.0% during the 1st quarter. Empowered Funds LLC now owns 128,493 shares of the company’s stock valued at $325,000 after acquiring an additional 102,689 shares during the period. Institutional investors and hedge funds own 46.84% of the company’s stock.

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.