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

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

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

Traeger Trading Down 3.6 %

Shares of Traeger stock opened at $3.17 on Thursday. Traeger has a 1 year low of $1.97 and a 1 year high of $3.97. 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 stock has a market cap of $410.41 million, a PE ratio of -7.73 and a beta of 1.25. The firm has a fifty day moving average price of $3.39 and a 200 day moving average price of $2.79.

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

Hedge Funds Weigh In On Traeger

Large investors have recently added to or reduced their stakes in the stock. Norden Group LLC purchased a new stake in shares of Traeger during the first quarter worth about $59,000. Empowered Funds LLC increased its stake in Traeger by 398.0% during the 1st quarter. Empowered Funds LLC now owns 128,493 shares of the company’s stock worth $325,000 after buying an additional 102,689 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Traeger during the first quarter valued at approximately $27,000. Panagora Asset Management Inc. lifted its position 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 valued at $438,000 after acquiring an additional 29,694 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Traeger by 56.3% in the second quarter. Dimensional Fund Advisors LP now owns 201,562 shares of the company’s stock worth $484,000 after acquiring an additional 72,637 shares during the last quarter. 46.84% of the stock is currently owned by institutional investors and hedge funds.

About Traeger

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.