Telsey Advisory Group Forecasts Strong Price Appreciation for Traeger (NYSE:COOK) Stock

Traeger (NYSE:COOK) had its price objective hoisted by analysts at Telsey Advisory Group from $45.00 to $65.00 in a research note issued on Thursday, Marketbeat reports. The firm presently has a “market perform” rating on the stock. Telsey Advisory Group’s price target points to a potential upside of 4.95% from the company’s previous close.

COOK has been the topic of a number of other research reports. Zacks Research raised Traeger from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 8th. B. Riley Financial reiterated a “neutral” rating and issued a $40.00 price objective (up from $30.00) on shares of Traeger in a report on Tuesday, May 12th. Robert W. Baird set a $40.00 price objective on Traeger in a research report on Tuesday, May 12th. Weiss Ratings raised Traeger from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 8th. Finally, Wall Street Zen upgraded Traeger from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $50.50.

Traeger Stock Up 4.2%

Shares of NYSE COOK opened at $61.93 on Thursday. The company has a current ratio of 3.40, a quick ratio of 2.01 and a debt-to-equity ratio of 2.29. The business has a 50-day moving average of $68.11 and a 200-day moving average of $51.11. The firm has a market capitalization of $172.18 million, a price-to-earnings ratio of -1.47 and a beta of 1.97. Traeger has a 12 month low of $20.91 and a 12 month high of $86.59.

Traeger (NYSE:COOK) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of ($1.57) by $2.10. The business had revenue of $120.16 million during the quarter, compared to analysts’ expectations of $133.20 million. Traeger had a negative net margin of 23.23% and a negative return on equity of 13.56%. Sell-side analysts expect that Traeger will post -2.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Traeger

A number of hedge funds and other institutional investors have recently made changes to their positions in COOK. Empowered Funds LLC raised its holdings in Traeger by 9.2% in the 4th quarter. Empowered Funds LLC now owns 227,741 shares of the company’s stock worth $246,000 after purchasing an additional 19,280 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in Traeger by 100.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,000,000 shares of the company’s stock worth $2,160,000 after buying an additional 1,000,000 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of Traeger by 19.9% during the 4th quarter. Blair William & Co. IL now owns 92,680 shares of the company’s stock worth $100,000 after acquiring an additional 15,400 shares during the period. RFP Financial Group LLC purchased a new position in shares of Traeger during the 4th quarter worth approximately $27,000. Finally, MYDA Advisors LLC bought a new position in shares of Traeger in the 4th quarter worth approximately $173,000. Institutional investors own 46.84% of the company’s stock.

About Traeger

Traeger, trading on the NYSE under the ticker COOK, is a designer, manufacturer and marketer of wood pellet grills and outdoor cooking appliances. The company’s core product lineup features a range of hardwood-pellet grills that combine wood-fired flavor with digital temperature control. Beyond grills, Traeger offers a suite of accessories—such as grill covers, smoking woods, meat probes and recipe rubs—as well as outdoor kitchen solutions designed to serve both consumer and light-commercial segments.

Founded in 1985 by Joe Traeger, the brand pioneered the wood-pellet grilling category.