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

Telsey Advisory Group restated their outperform rating on shares of Traeger (NYSE:COOK) in a report issued on Wednesday, Benzinga reports. They currently have a $4.00 target price on the stock.

COOK has been the topic of several other reports. Piper Sandler raised Traeger from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada raised their price objective on shares of 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 target on 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.30.

Traeger Stock Performance

Shares of COOK opened at $3.16 on Wednesday. The company has a 50-day moving average of $3.43 and a two-hundred day moving average of $2.76. Traeger has a one year low of $1.97 and a one 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 $409.11 million, a price-to-earnings ratio of -7.71 and a beta of 1.23.

Traeger (NYSE:COOK) last issued its 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 net margin of 8.50% and a negative return on equity of 12.65%. The company had revenue of $168.47 million during the quarter, compared to analyst estimates of $168.07 million. During the same quarter last year, the business posted ($0.23) EPS. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, equities research analysts expect that Traeger will post -0.12 earnings per share for the current year.

Institutional Trading of Traeger

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Diversify Wealth Management LLC lifted its stake in 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 buying an additional 8,499 shares during the period. SG Americas Securities LLC acquired a new position in shares of Traeger during the third quarter worth about $51,000. AQR Capital Management LLC bought a new position in shares of Traeger during the 2nd quarter worth approximately $52,000. Squarepoint Ops LLC grew its position in Traeger by 712.1% in the second quarter. Squarepoint Ops LLC now owns 85,713 shares of the company’s stock valued at $206,000 after purchasing an additional 75,159 shares in the last quarter. Finally, Renaissance Technologies LLC acquired 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.