Telsey Advisory Group Reiterates “Outperform” Rating for Traeger (NYSE:COOK)

Traeger (NYSE:COOK)‘s stock had its “outperform” rating reiterated by equities researchers at Telsey Advisory Group in a report released on Friday, Benzinga reports. They presently have a $4.50 price objective on the stock. Telsey Advisory Group’s target price indicates a potential upside of 100.89% from the company’s previous close.

Separately, Canaccord Genuity Group decreased their target price on Traeger from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $4.47.

Traeger Stock Up 3.7 %

NYSE:COOK opened at $2.24 on Friday. The company has a market capitalization of $287.03 million, a price-to-earnings ratio of -4.07 and a beta of 1.07. Traeger has a one year low of $1.97 and a one year high of $6.70. The stock has a 50-day simple moving average of $2.27 and a 200 day simple moving average of $2.37. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.90 and a current ratio of 1.62.

Traeger (NYSE:COOK) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $163.48 million during the quarter, compared to analyst estimates of $153.10 million. Sell-side analysts predict that Traeger will post -0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Traeger

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Glendon Capital Management LP bought a new stake in shares of Traeger during the third quarter valued at approximately $983,000. Swiss National Bank raised its holdings in shares of Traeger by 14.4% during the third quarter. Swiss National Bank now owns 136,200 shares of the company’s stock valued at $372,000 after buying an additional 17,100 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Traeger by 5.0% during the third quarter. Bank of New York Mellon Corp now owns 121,540 shares of the company’s stock valued at $332,000 after buying an additional 5,752 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Traeger during the third quarter valued at approximately $326,000. Finally, Blair William & Co. IL raised its holdings in shares of Traeger by 11.6% during the third quarter. Blair William & Co. IL now owns 98,447 shares of the company’s stock valued at $269,000 after buying an additional 10,260 shares during the last quarter. 46.84% of the stock is currently owned by institutional investors and hedge funds.

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.