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

Traeger (NYSE:COOK - Get Free Report)'s stock had its "outperform" rating reissued by equities researchers at Telsey Advisory Group in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $4.00 price target on the stock. Telsey Advisory Group's price objective indicates a potential upside of 21.95% from the stock's current price.

Other equities analysts have also issued reports about the company. Robert W. Baird boosted their price objective on Traeger from $2.50 to $3.00 and gave the company a "neutral" rating in a research report on Wednesday, August 7th. Piper Sandler raised Traeger from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada upped their price target on Traeger from $2.00 to $2.50 and gave the stock a "sector perform" rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $3.83.

Traeger Stock Performance

Shares of NYSE:COOK traded up $0.11 during trading on Thursday, reaching $3.28. The stock had a trading volume of 220,073 shares, compared to its average volume of 267,767. The stock has a fifty day simple moving average of $3.39 and a two-hundred day simple moving average of $2.79. The firm has a market capitalization of $424.66 million, a price-to-earnings ratio of -8.00 and a beta of 1.25. The company has a quick ratio of 1.21, a current ratio of 2.04 and a debt-to-equity ratio of 1.34. Traeger has a 52 week low of $1.97 and a 52 week high of $3.97.

Traeger (NYSE:COOK - Get Free Report) last released its quarterly 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 return on equity of 12.65% and a negative net margin of 8.50%. The business had revenue of $168.47 million during the quarter, compared to analysts' expectations of $168.07 million. During the same period in the previous year, the business posted ($0.23) earnings per share. The firm's revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, analysts anticipate that Traeger will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of Traeger

Several large investors have recently modified their holdings of COOK. Empowered Funds LLC lifted its position in Traeger by 5.3% during the third quarter. Empowered Funds LLC now owns 145,763 shares of the company's stock valued at $536,000 after purchasing an additional 7,370 shares in the last quarter. Diversify Wealth Management LLC lifted its position in shares of Traeger by 5.4% in the third quarter. Diversify Wealth Management LLC now owns 164,547 shares of the company's stock worth $606,000 after buying an additional 8,499 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Traeger in the third quarter worth about $51,000. AQR Capital Management LLC purchased a new stake in shares of Traeger in the second quarter worth about $52,000. Finally, Squarepoint Ops LLC increased its stake in Traeger by 712.1% during the second quarter. Squarepoint Ops LLC now owns 85,713 shares of the company's stock worth $206,000 after acquiring an additional 75,159 shares during the last quarter. Institutional investors own 46.84% of the company's stock.

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.