Traeger (NYSE:COOK) Receives Outperform Rating from Telsey Advisory Group

Traeger (NYSE:COOK)‘s stock had its “outperform” rating reissued by research analysts at Telsey Advisory Group in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $4.00 price objective on the stock. Telsey Advisory Group’s price objective points to a potential upside of 63.27% from the stock’s previous close.

Traeger Stock Performance

Traeger stock opened at $2.45 on Thursday. Traeger has a fifty-two week low of $1.97 and a fifty-two week high of $6.70. The firm’s 50 day simple moving average is $2.38 and its 200-day simple moving average is $2.29. 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 company has a market cap of $315.73 million, a P/E ratio of -3.71 and a beta of 1.14.

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

Insider Transactions at Traeger

In other Traeger news, CEO Jeremy Andrus bought 165,000 shares of the firm’s stock in a transaction that occurred 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 purchase, the chief executive officer now directly owns 7,428,887 shares in the company, valued at $16,120,684.79. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of COOK. Capital World Investors increased its position in shares of Traeger by 4.9% during the 4th quarter. Capital World Investors now owns 6,499,660 shares of the company’s stock worth $17,744,000 after purchasing an additional 304,660 shares in the last quarter. Glendon Capital Management LP raised its stake in shares of Traeger by 223.8% in the fourth quarter. Glendon Capital Management LP now owns 1,165,546 shares of the company’s stock valued at $3,182,000 after acquiring an additional 805,546 shares during the last quarter. Panagora Asset Management Inc. grew its position in Traeger by 19.4% during the 2nd quarter. Panagora Asset Management Inc. now owns 182,484 shares of the company’s stock worth $438,000 after acquiring an additional 29,694 shares during the last quarter. Empowered Funds LLC increased its stake 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 buying an additional 102,689 shares in the last quarter. Finally, Norden Group LLC bought a new position in shares of Traeger in the first quarter worth about $118,000. 46.84% of the stock is owned by institutional investors.

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.