Telsey Advisory Group Reaffirms “Market Perform” Rating for Traeger (NYSE:COOK)

Telsey Advisory Group reissued their market perform rating on shares of Traeger (NYSE:COOK) in a research note released on Monday,Benzinga reports. Telsey Advisory Group currently has a $2.50 price target on the stock.

A number of other equities research analysts also recently weighed in on COOK. Morgan Stanley cut their price target on shares of Traeger from $3.00 to $2.50 and set an “underweight” rating for the company in a report on Friday, March 7th. Piper Sandler cut their target price on shares of Traeger from $3.75 to $2.50 and set a “neutral” rating for the company in a research note on Friday, March 7th. Canaccord Genuity Group decreased their price target on shares of Traeger from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Robert W. Baird cut their price objective on Traeger from $3.50 to $2.50 and set a “neutral” rating for the company in a research report on Friday, March 7th. Finally, Royal Bank of Canada decreased their target price on Traeger from $2.75 to $2.00 and set a “sector perform” rating on the stock in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $2.79.

Traeger Trading Up 2.0 %

Shares of Traeger stock opened at $1.52 on Monday. The business has a fifty day simple moving average of $2.09 and a 200-day simple moving average of $2.67. Traeger has a fifty-two week low of $1.37 and a fifty-two week high of $3.97. The firm has a market cap of $198.59 million, a price-to-earnings ratio of -3.80 and a beta of 1.42. The company has a quick ratio of 1.08, a current ratio of 2.09 and a debt-to-equity ratio of 1.42.

Hedge Funds Weigh In On Traeger

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