Telsey Advisory Group Reiterates Market Perform Rating for Traeger (NYSE:COOK)

Traeger (NYSE:COOK)‘s stock had its “market perform” rating reissued by analysts at Telsey Advisory Group in a note issued to investors on Monday,Benzinga reports. They presently have a $2.50 target price on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 67.22% from the company’s previous close.

Several other equities analysts have also issued reports on the company. Robert W. Baird cut their price target on Traeger from $3.50 to $2.50 and set a “neutral” rating for the company in a report on Friday, March 7th. Royal Bank of Canada lowered their price target on shares of Traeger from $2.75 to $2.00 and set a “sector perform” rating on the stock in a report on Friday, March 7th. UBS Group set a $2.50 price objective on shares of Traeger in a report on Friday, March 7th. Morgan Stanley decreased their price objective on Traeger from $3.00 to $2.50 and set an “underweight” rating on the stock in a report on Friday, March 7th. Finally, Piper Sandler dropped their target price on Traeger from $3.75 to $2.50 and set a “neutral” rating for the company in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $2.79.

Traeger Price Performance

Shares of Traeger stock opened at $1.50 on Monday. The firm has a fifty day moving average price of $2.11 and a two-hundred day moving average price of $2.68. Traeger has a fifty-two week low of $1.44 and a fifty-two week high of $3.97. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.09 and a quick ratio of 1.08. The company has a market cap of $195.32 million, a PE ratio of -3.74 and a beta of 1.42.

Institutional Investors Weigh In On Traeger

Several hedge funds and other institutional investors have recently made changes to their positions in COOK. Quadrature Capital Ltd bought a new position in Traeger in the third quarter valued at about $50,000. Graham Capital Management L.P. bought a new position in shares of Traeger in the 4th quarter valued at about $37,000. Public Employees Retirement System of Ohio grew its position in shares of Traeger by 70.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,883 shares of the company’s stock worth $62,000 after buying an additional 7,006 shares during the period. XTX Topco Ltd bought a new stake in shares of Traeger during the third quarter worth approximately $118,000. Finally, Two Sigma Advisers LP lifted its holdings in Traeger by 202.8% in the fourth quarter. Two Sigma Advisers LP now owns 32,100 shares of the company’s stock valued at $77,000 after buying an additional 21,500 shares during the period. 46.84% of the stock is owned by institutional investors and hedge funds.

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.