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 research report issued on Friday,Benzinga reports. They presently have a $4.00 price target on the stock. Telsey Advisory Group’s target price would indicate a potential upside of 72.79% from the company’s current price.

A number of other research analysts have also weighed in on the stock. Canaccord Genuity Group boosted their target price on shares of Traeger from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Piper Sandler boosted their price objective on Traeger from $3.50 to $3.75 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada increased their target price on Traeger from $2.50 to $2.75 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $4.10.

Traeger Trading Up 2.4 %

NYSE:COOK opened at $2.32 on Friday. The company has a quick ratio of 1.08, a current ratio of 2.09 and a debt-to-equity ratio of 1.42. The company’s 50 day moving average is $2.41 and its 200-day moving average is $2.96. The firm has a market cap of $302.34 million, a price-to-earnings ratio of -5.79 and a beta of 1.32. Traeger has a 12 month low of $1.97 and a 12 month high of $3.97.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in COOK. Squarepoint Ops LLC grew its position in Traeger by 61.0% during the fourth quarter. Squarepoint Ops LLC now owns 120,003 shares of the company’s stock worth $287,000 after buying an additional 45,469 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Traeger by 202.8% in the 4th quarter. Two Sigma Advisers LP now owns 32,100 shares of the company’s stock worth $77,000 after acquiring an additional 21,500 shares during the period. Two Sigma Investments LP grew its holdings in shares of Traeger by 32.7% during the 4th quarter. Two Sigma Investments LP now owns 123,931 shares of the company’s stock worth $296,000 after purchasing an additional 30,539 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Traeger by 1.1% during the 4th quarter. Millennium Management LLC now owns 407,265 shares of the company’s stock worth $973,000 after purchasing an additional 4,433 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Traeger by 19.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 307,882 shares of the company’s stock valued at $736,000 after purchasing an additional 49,824 shares during the period. Institutional investors 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.