Traeger’s (COOK) “Outperform” Rating Reiterated at Telsey Advisory Group

Traeger (NYSE:COOK)‘s stock had its “outperform” rating reissued by stock analysts at Telsey Advisory Group in a research note issued to investors on Friday, Benzinga reports. They presently have a $4.50 target price on the stock. Telsey Advisory Group’s price objective indicates a potential upside of 108.33% from the company’s previous close.

Separately, Canaccord Genuity Group decreased 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 equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $4.47.

Traeger Stock Performance

Shares of NYSE:COOK opened at $2.16 on Friday. The company’s 50 day simple moving average is $2.26 and its 200 day simple moving average is $2.38. The stock has a market capitalization of $276.78 million, a price-to-earnings ratio of -3.93 and a beta of 1.07. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.62 and a quick ratio of 0.90. Traeger has a 1 year low of $1.97 and a 1 year high of $6.70.

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

Hedge Funds Weigh In On Traeger

A number of institutional investors and hedge funds have recently made changes to their positions in COOK. SG Americas Securities LLC bought a new position in Traeger in the 3rd quarter valued at about $45,000. Bank of New York Mellon Corp lifted its position in Traeger by 5.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 121,540 shares of the company’s stock valued at $332,000 after acquiring an additional 5,752 shares in the last quarter. Panagora Asset Management Inc. bought a new position in Traeger in the 3rd quarter valued at about $326,000. Quantbot Technologies LP purchased a new stake in Traeger in the 3rd quarter valued at about $55,000. Finally, Swiss National Bank increased its stake in Traeger by 14.4% in the 3rd 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. 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.