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

Traeger (NYSE:COOK)‘s stock had its “outperform” rating restated by equities researchers at Telsey Advisory Group in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $4.00 target price on the stock. Telsey Advisory Group’s price objective would suggest a potential upside of 26.18% from the company’s current price.

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

Traeger Stock Down 3.6 %

Shares of NYSE COOK opened at $3.17 on Thursday. The stock has a market cap of $410.41 million, a PE ratio of -7.73 and a beta of 1.25. The company has a current ratio of 2.04, a quick ratio of 1.21 and a debt-to-equity ratio of 1.34. Traeger has a 12-month low of $1.97 and a 12-month high of $3.97. The company has a 50-day moving average of $3.39 and a 200 day moving average of $2.79.

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

Institutional Investors Weigh In On Traeger

A number of institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in Traeger by 56.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 201,562 shares of the company’s stock valued at $484,000 after acquiring an additional 72,637 shares during the period. Panagora Asset Management Inc. grew its stake in shares of Traeger by 19.4% in the second quarter. Panagora Asset Management Inc. now owns 182,484 shares of the company’s stock worth $438,000 after acquiring an additional 29,694 shares in the last quarter. Diversify Wealth Management LLC raised its stake in shares of Traeger by 5.4% in the third quarter. Diversify Wealth Management LLC now owns 164,547 shares of the company’s stock valued at $606,000 after acquiring an additional 8,499 shares in the last quarter. Empowered Funds LLC boosted its holdings in Traeger by 5.3% in the third quarter. Empowered Funds LLC now owns 145,763 shares of the company’s stock valued at $536,000 after purchasing an additional 7,370 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Traeger in the second quarter valued at $345,000. 46.84% of the stock is 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.