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

Telsey Advisory Group reissued their outperform rating on shares of Traeger (NYSE:COOK) in a report issued on Friday,Benzinga reports. They currently have a $4.00 price objective on the stock.

COOK has been the topic of several other research reports. Royal Bank of Canada lifted their price target on shares of Traeger from $2.50 to $2.75 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Canaccord Genuity Group boosted their target price on shares of Traeger from $6.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Piper Sandler boosted their target price on shares of Traeger from $3.50 to $3.75 and gave the company a “neutral” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $4.10.

Traeger Stock Performance

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

Institutional Trading of Traeger

Hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC boosted its stake in Traeger by 61.0% in the 4th quarter. Squarepoint Ops LLC now owns 120,003 shares of the company’s stock worth $287,000 after purchasing an additional 45,469 shares in the last quarter. Two Sigma Advisers LP boosted its stake in 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 purchasing an additional 21,500 shares in the last quarter. Two Sigma Investments LP boosted its stake in Traeger by 32.7% in 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 boosted its stake in Traeger by 1.1% in 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. boosted its stake in Traeger by 19.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 307,882 shares of the company’s stock worth $736,000 after purchasing an additional 49,824 shares in 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.