Telsey Advisory Group Comments on Traeger, Inc.’s FY2022 Earnings (NYSE:COOK)

Traeger, Inc. (NYSE:COOK – Get Rating) – Investment analysts at Telsey Advisory Group issued their FY2022 EPS estimates for Traeger in a research note issued to investors on Monday, March 13th. Telsey Advisory Group analyst J. Feldman forecasts that the company will earn ($0.99) per share for the year. The consensus estimate for Traeger’s current full-year earnings is ($0.95) per share. Telsey Advisory Group also issued estimates for Traeger’s Q4 2022 earnings at ($0.30) EPS, Q1 2023 earnings at ($0.17) EPS, Q2 2023 earnings at ($0.22) EPS, Q3 2023 earnings at ($0.25) EPS, Q4 2023 earnings at ($0.20) EPS and FY2023 earnings at ($0.86) EPS.

A number of other equities research analysts have also recently issued reports on the stock. Piper Sandler cut shares of Traeger from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $6.00 to $4.00 in a report on Wednesday. William Blair reiterated a “market perform” rating on shares of Traeger in a report on Friday, December 16th. Royal Bank of Canada cut shares of Traeger from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $4.00 to $3.00 in a report on Tuesday, January 3rd. Canaccord Genuity Group assumed coverage on shares of Traeger in a report on Thursday, November 17th. They issued a “buy” rating and a $6.00 price objective for the company. Finally, Canaccord Genuity Group assumed coverage on shares of Traeger in a report on Wednesday, November 16th. They set a “buy” rating and a $6.00 price target for the company. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $6.01.

Traeger Trading Down 14.1 %

Shares of NYSE:COOK opened at $3.24 on Wednesday. The stock has a market capitalization of $383.09 million, a PE ratio of -1.00 and a beta of 0.74. Traeger has a 1 year low of $2.48 and a 1 year high of $9.91. The firm has a fifty day moving average price of $3.56 and a 200 day moving average price of $3.33. The company has a current ratio of 2.13, a quick ratio of 0.66 and a debt-to-equity ratio of 1.19.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Barclays PLC raised its position in shares of Traeger by 556.7% during the fourth quarter. Barclays PLC now owns 8,918 shares of the company’s stock valued at $25,000 after buying an additional 7,560 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Traeger in the first quarter worth about $74,000. Advisor Group Holdings Inc. raised its position in Traeger by 37.3% in the fourth quarter. Advisor Group Holdings Inc. now owns 10,680 shares of the company’s stock worth $30,000 after purchasing an additional 2,900 shares in the last quarter. Trexquant Investment LP acquired a new position in Traeger in the second quarter worth about $47,000. Finally, Brown Advisory Inc. acquired a new position in Traeger in the second quarter worth about $49,000. Institutional investors and hedge funds own 45.16% of the company’s stock.

Traeger Company Profile

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Traeger, Inc, together with its subsidiaries, designs, sources, sells, and supports wood pellet fueled barbeque 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.