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

Telsey Advisory Group reissued their outperform rating on shares of Traeger (NYSE:COOK) in a research note issued to investors on Thursday, Benzinga reports. Telsey Advisory Group currently has a $4.00 target price on the stock.

Traeger Trading Down 5.0 %

Shares of NYSE:COOK opened at $2.28 on Thursday. The company has a 50 day moving average of $2.39 and a 200-day moving average of $2.29. The company has a current ratio of 1.74, a quick ratio of 0.99 and a debt-to-equity ratio of 1.35. The firm has a market cap of $293.82 million, a P/E ratio of -3.45 and a beta of 1.15. Traeger has a twelve month low of $1.97 and a twelve month high of $6.70.

Traeger (NYSE:COOK) last released its earnings results on Wednesday, May 8th. The company reported ($0.05) earnings per share for the quarter. The firm had revenue of $144.91 million during the quarter, compared to analyst estimates of $143.41 million. Traeger had a negative return on equity of 22.43% and a negative net margin of 13.54%. As a group, analysts anticipate that Traeger will post -0.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Traeger news, CEO Jeremy Andrus purchased 165,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was bought at an average cost of $2.17 per share, with a total value of $358,050.00. Following the acquisition, the chief executive officer now owns 7,428,887 shares of the company’s stock, valued at $16,120,684.79. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of Traeger during the 1st quarter worth $27,000. Victory Capital Management Inc. acquired a new position in shares of Traeger in the 4th quarter valued at $28,000. Norden Group LLC purchased a new position in Traeger in the 1st quarter worth about $59,000. Dynamic Technology Lab Private Ltd raised its holdings in Traeger by 96.3% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 28,643 shares of the company’s stock worth $78,000 after buying an additional 14,054 shares during the period. Finally, Empowered Funds LLC lifted its stake in Traeger by 398.0% during the first quarter. Empowered Funds LLC now owns 128,493 shares of the company’s stock valued at $325,000 after buying an additional 102,689 shares in the last quarter. Institutional investors and hedge funds own 46.84% of the company’s stock.

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.