Traeger (NYSE:COOK) Stock Rating Reaffirmed by Telsey Advisory Group

Traeger (NYSE:COOK – Get Rating)‘s stock had its “market perform” rating restated by research analysts at Telsey Advisory Group in a research report issued on Friday, Benzinga reports. They currently have a $3.50 price objective on the stock. Telsey Advisory Group’s target price points to a potential downside of 4.37% from the company’s current price. Telsey Advisory Group also issued estimates for Traeger’s Q4 2022 earnings at ($0.30) EPS, FY2022 earnings at ($0.99) EPS, Q1 2023 earnings at ($0.17) EPS, Q2 2023 earnings at ($0.22) EPS, Q3 2023 earnings at ($0.25) EPS, Q4 2023 earnings at ($0.20) EPS and FY2023 earnings at ($0.86) EPS.

COOK has been the subject of a number of other research reports. Canaccord Genuity Group started coverage on shares of Traeger in a research report on Thursday, November 17th. They set a “buy” rating and a $6.00 target price for the company. Royal Bank of Canada lowered shares of Traeger from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $4.00 to $3.00 in a research report on Tuesday, January 3rd. William Blair reiterated a “market perform” rating on shares of Traeger in a research report on Friday, December 16th. Finally, Piper Sandler lowered shares of Traeger from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $6.00 to $4.00 in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.88.

Traeger Trading Up 21.6 %

Shares of NYSE:COOK opened at $3.66 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.66 and a current ratio of 2.13. The firm has a fifty day moving average price of $3.59 and a 200 day moving average price of $3.34. Traeger has a fifty-two week low of $2.48 and a fifty-two week high of $9.91.

Institutional Investors Weigh In On Traeger

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC raised its stake in shares of Traeger by 556.7% in the fourth quarter. Barclays PLC now owns 8,918 shares of the company’s stock valued at $25,000 after acquiring an additional 7,560 shares during the period. Advisor Group Holdings Inc. raised its stake in shares of Traeger by 37.3% in the fourth quarter. Advisor Group Holdings Inc. now owns 10,680 shares of the company’s stock valued at $30,000 after acquiring an additional 2,900 shares during the period. Financial Advocates Investment Management purchased a new stake in shares of Traeger in the fourth quarter valued at $34,000. SG Americas Securities LLC purchased a new stake in shares of Traeger in the third quarter valued at $35,000. Finally, Alliancebernstein L.P. purchased a new position in Traeger in the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 45.16% of the company’s stock.

About Traeger

(Get Rating)

Traeger, Inc, together with its subsidiaries, designs, sources, sells, and supports wood pellet fueled barbeque 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.