Traeger (NYSE:COOK) Receives Outperform Rating from Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of Traeger (NYSE:COOK) in a report issued on Friday morning, Benzinga reports. Telsey Advisory Group currently has a $4.50 target price on the stock.

Separately, Canaccord Genuity Group lowered their price target on shares of Traeger from $5.00 to $4.00 and set a buy rating on the stock in a research note on Wednesday, March 6th. One 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’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $4.47.

Traeger Stock Up 3.7 %

Shares of COOK stock traded up $0.08 on Friday, hitting $2.24. 193,371 shares of the stock were exchanged, compared to its average volume of 193,762. The business has a 50-day moving average of $2.27 and a 200 day moving average of $2.37. Traeger has a fifty-two week low of $1.97 and a fifty-two week high of $6.70. The firm has a market capitalization of $287.03 million, a P/E ratio of -4.07 and a beta of 1.07. The company has a current ratio of 1.62, a quick ratio of 0.90 and a debt-to-equity ratio of 1.36.

Traeger (NYSE:COOK) last released its quarterly 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). 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 for the quarter, compared to analyst estimates of $153.10 million. Equities analysts anticipate that Traeger will post -0.15 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Capital World Investors lifted its holdings in Traeger by 4.9% during the 4th quarter. Capital World Investors now owns 6,499,660 shares of the company’s stock valued at $17,744,000 after purchasing an additional 304,660 shares during the last quarter. Glendon Capital Management LP grew its stake in Traeger by 223.8% in the 4th quarter. Glendon Capital Management LP now owns 1,165,546 shares of the company’s stock valued at $3,182,000 after buying an additional 805,546 shares during the last quarter. Panagora Asset Management Inc. boosted its position in shares of Traeger by 28.8% in the fourth quarter. Panagora Asset Management Inc. now owns 153,761 shares of the company’s stock valued at $420,000 after acquiring an additional 34,344 shares during the period. Swiss National Bank increased 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 worth $372,000 after purchasing an additional 17,100 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Traeger by 5.0% during the third quarter. Bank of New York Mellon Corp now owns 121,540 shares of the company’s stock worth $332,000 after purchasing an additional 5,752 shares during the period. 46.84% of the stock is currently owned by institutional investors and hedge funds.

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.