Traeger (NYSE:COOK) Given New $5.00 Price Target at Telsey Advisory Group

Traeger (NYSE:COOK) had its target price dropped by stock analysts at Telsey Advisory Group from $6.50 to $5.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Telsey Advisory Group’s target price would indicate a potential upside of 69.49% from the company’s current price.

Other analysts have also issued research reports about the company. Canaccord Genuity Group upped their target price on Traeger from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Piper Sandler increased their price objective on shares of Traeger from $4.00 to $5.00 in a research note on Thursday, August 3rd. Morgan Stanley downgraded shares of Traeger from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $4.75 to $3.00 in a report on Wednesday, September 27th. Finally, BMO Capital Markets increased their price target on shares of Traeger from $5.00 to $7.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Traeger presently has an average rating of “Hold” and a consensus price target of $4.74.

Traeger Price Performance

Shares of NYSE:COOK opened at $2.95 on Thursday. The firm has a market capitalization of $365.71 million, a price-to-earnings ratio of -1.35 and a beta of 1.09. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.77 and a quick ratio of 1.00. The business’s 50 day simple moving average is $3.14 and its 200-day simple moving average is $3.73. Traeger has a 12 month low of $2.33 and a 12 month high of $6.70.

Insider Activity at Traeger

In other Traeger news, CFO Dominic Blosil sold 7,180 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $4.37, for a total value of $31,376.60. Following the sale, the chief financial officer now directly owns 1,413,060 shares of the company’s stock, valued at approximately $6,175,072.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, COO James H. Hardy, Jr. sold 6,456 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $4.00, for a total value of $25,824.00. Following the completion of the sale, the chief operating officer now directly owns 927,175 shares in the company, valued at $3,708,700. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Dominic Blosil sold 7,180 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $4.37, for a total transaction of $31,376.60. Following the transaction, the chief financial officer now directly owns 1,413,060 shares in the company, valued at approximately $6,175,072.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,722 shares of company stock worth $294,102. 9.80% of the stock is currently owned by insiders.

Institutional Trading of Traeger

Several institutional investors have recently made changes to their positions in COOK. Swiss National Bank raised its position in shares of Traeger by 7.4% in the 1st quarter. Swiss National Bank now owns 69,500 shares of the company’s stock worth $517,000 after buying an additional 4,800 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Traeger by 18.7% in the 1st quarter. Bank of New York Mellon Corp now owns 82,811 shares of the company’s stock valued at $616,000 after purchasing an additional 13,040 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Traeger by 134.1% during the 1st quarter. MetLife Investment Management LLC now owns 20,784 shares of the company’s stock worth $155,000 after purchasing an additional 11,905 shares during the period. Rhumbline Advisers increased its position in Traeger by 39.1% during the 1st quarter. Rhumbline Advisers now owns 31,234 shares of the company’s stock worth $232,000 after purchasing an additional 8,773 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in Traeger by 17.2% in the first quarter. BlackRock Inc. now owns 1,774,890 shares of the company’s stock valued at $13,204,000 after buying an additional 260,933 shares during the period. 42.28% of the stock is owned by hedge funds and other institutional investors.

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.