Traeger (NYSE:COOK) Earns “Outperform” Rating from Telsey Advisory Group

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

Traeger Price Performance

Shares of NYSE COOK opened at $2.28 on Thursday. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.74 and a quick ratio of 0.99. The business has a 50-day moving average of $2.39 and a 200-day moving average of $2.29. The stock has a market capitalization of $293.82 million, a price-to-earnings ratio of -3.45 and a beta of 1.15. Traeger has a fifty-two week low of $1.97 and a fifty-two week high of $6.70.

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

Insider Buying and Selling

In other news, CEO Jeremy Andrus purchased 165,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was purchased at an average price of $2.17 per share, for a total transaction of $358,050.00. Following the completion of the purchase, the chief executive officer now directly owns 7,428,887 shares in the company, valued at approximately $16,120,684.79. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Traeger

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