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

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

COOK has been the subject of several other research reports. Piper Sandler raised Traeger from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Royal Bank of Canada upped their target price on Traeger from $2.00 to $2.50 and gave the stock a “sector perform” rating in a research note on Thursday, August 8th. Finally, Robert W. Baird lifted their price target on shares of Traeger from $2.50 to $3.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, two have assigned 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, Traeger presently has a consensus rating of “Moderate Buy” and an average price target of $3.30.

Traeger Stock Performance

Shares of COOK opened at $3.12 on Wednesday. Traeger has a 12-month low of $1.97 and a 12-month high of $3.97. The company has a current ratio of 2.04, a quick ratio of 1.21 and a debt-to-equity ratio of 1.34. The company has a market cap of $403.30 million, a PE ratio of -7.60 and a beta of 1.23. The stock has a 50-day moving average price of $3.42 and a 200-day moving average price of $2.76.

Traeger (NYSE:COOK) last announced its earnings results 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 analyst estimates of $168.07 million. Traeger had a negative net margin of 8.50% and a negative return on equity of 12.65%. Traeger’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.23) earnings per share. As a group, equities analysts forecast that Traeger will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Traeger

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COOK. Renaissance Technologies LLC purchased a new position in shares of Traeger in the second quarter valued at about $345,000. Empowered Funds LLC grew its position in shares of Traeger by 398.0% in 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 during the last quarter. Squarepoint Ops LLC raised 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 valued at $206,000 after acquiring an additional 75,159 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in 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 period. Finally, Norden Group LLC bought a new stake in Traeger in the first quarter valued at $118,000. 46.84% of the stock is currently owned by institutional investors.

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.