Traeger (NYSE:COOK) Price Target Cut to $4.00 by Analysts at Telsey Advisory Group

Traeger (NYSE:COOK) had its price objective cut by investment analysts at Telsey Advisory Group from $4.50 to $4.00 in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The brokerage currently has an “outperform” rating on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 76.21% from the stock’s previous close.

Separately, Canaccord Genuity Group dropped their price objective on shares of Traeger from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Wednesday, March 6th. One equities 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $4.38.

Traeger Price Performance

NYSE:COOK opened at $2.27 on Thursday. The firm has a market capitalization of $290.88 million, a price-to-earnings ratio of -4.13 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. The business has a 50 day simple moving average of $2.27 and a 200-day simple moving average of $2.36. Traeger has a 1 year low of $1.97 and a 1 year high of $6.70.

Traeger (NYSE:COOK) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.04). The company had revenue of $163.48 million during 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%. Equities analysts forecast that Traeger will post -0.15 EPS for the current year.

Institutional Trading of Traeger

A number of large investors have recently made changes to their positions in COOK. SG Americas Securities LLC bought a new stake in shares of Traeger in the first quarter valued at about $27,000. Victory Capital Management Inc. bought a new stake in shares of Traeger in the fourth quarter valued at about $28,000. Quantbot Technologies LP bought a new stake in shares of Traeger in the third quarter valued at about $55,000. Norden Group LLC bought a new stake in shares of Traeger in the first quarter valued at about $59,000. Finally, Dynamic Technology Lab Private Ltd raised its holdings in shares of Traeger by 96.3% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 28,643 shares of the company’s stock valued at $78,000 after acquiring an additional 14,054 shares in the last quarter. 46.84% of the stock is owned by hedge funds and other 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.