Telsey Advisory Group Reaffirms Outperform Rating for Traeger (NYSE:COOK)

Telsey Advisory Group restated their outperform rating on shares of Traeger (NYSE:COOK) in a research report sent to investors on Friday, Benzinga reports. They currently have a $4.50 price objective on the stock.

Separately, Canaccord Genuity Group cut their price objective on Traeger from $5.00 to $4.00 and set a buy rating for the company in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $4.47.

Traeger Price Performance

Traeger stock opened at $2.27 on Friday. Traeger has a 52 week low of $1.97 and a 52 week high of $6.70. The business has a 50-day simple moving average of $2.27 and a 200 day simple moving average of $2.37. The company has a quick ratio of 0.90, a current ratio of 1.62 and a debt-to-equity ratio of 1.36. The stock has a market cap of $290.88 million, a price-to-earnings ratio of -4.13 and a beta of 1.07.

Traeger (NYSE:COOK) last posted its earnings results on Thursday, March 7th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.04). Traeger had a negative return on equity of 20.91% and a negative net margin of 11.26%. The business had revenue of $163.48 million for the quarter, compared to analysts’ expectations of $153.10 million. On average, research analysts forecast that Traeger will post -0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Traeger

Institutional investors have recently modified their holdings of the company. Glendon Capital Management LP bought a new position in Traeger during the 3rd quarter worth approximately $983,000. Bank of New York Mellon Corp grew its position in Traeger by 5.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 121,540 shares of the company’s stock worth $332,000 after acquiring an additional 5,752 shares during the last quarter. Swiss National Bank grew its position in Traeger by 14.4% during the 3rd quarter. Swiss National Bank now owns 136,200 shares of the company’s stock worth $372,000 after acquiring an additional 17,100 shares during the last quarter. Panagora Asset Management Inc. bought a new position in Traeger during the 3rd quarter worth approximately $326,000. Finally, Blair William & Co. IL grew its position in Traeger by 11.6% during the 3rd quarter. Blair William & Co. IL now owns 98,447 shares of the company’s stock worth $269,000 after acquiring an additional 10,260 shares during the last quarter. 46.84% of the stock is currently owned by 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.