Traeger (NYSE:COOK) Cut to “Market Perform” at Telsey Advisory Group

Telsey Advisory Group lowered shares of Traeger (NYSE:COOK) from an outperform rating to a market perform rating in a report released on Friday, MarketBeat.com reports. The firm currently has $2.50 price objective on the stock, down from their previous price objective of $4.00.

Several other equities analysts also recently commented on COOK. Royal Bank of Canada upped their price objective on Traeger from $2.50 to $2.75 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Piper Sandler increased their target price on Traeger from $3.50 to $3.75 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group increased their target price on Traeger from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Traeger presently has a consensus rating of “Hold” and a consensus price target of $2.83.

Traeger Price Performance

Traeger stock opened at $2.19 on Friday. Traeger has a 12 month low of $1.82 and a 12 month high of $3.97. The company has a current ratio of 2.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.42. The business’s 50 day simple moving average is $2.38 and its 200 day simple moving average is $2.93. The company has a market cap of $286.54 million, a price-to-earnings ratio of -5.48 and a beta of 1.32.

Institutional Trading of Traeger

A number of institutional investors have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. increased its position in shares of Traeger by 724.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 258,058 shares of the company’s stock valued at $950,000 after acquiring an additional 226,750 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Traeger by 84.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 475,411 shares of the company’s stock valued at $1,136,000 after acquiring an additional 217,771 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Traeger by 758.1% during the fourth quarter. JPMorgan Chase & Co. now owns 135,984 shares of the company’s stock valued at $325,000 after acquiring an additional 120,136 shares in the last quarter. Bosun Asset Management LLC increased its position in shares of Traeger by 267.7% during the fourth quarter. Bosun Asset Management LLC now owns 95,235 shares of the company’s stock valued at $228,000 after acquiring an additional 69,335 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position in shares of Traeger by 36.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 232,052 shares of the company’s stock valued at $555,000 after acquiring an additional 61,923 shares in the last quarter. 46.84% of the stock is currently owned by hedge funds and other institutional investors.

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.