Traeger (NYSE:COOK) Given New $65.00 Price Target at Telsey Advisory Group

Key Points

• Telsey Advisory Group raised Traeger’s price target to $65 from $45 while maintaining a “market perform” rating, implying roughly 3.5% downside from the prior close.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $53.42, despite one “Strong Buy” and one “Buy” recommendation.
• Traeger reported quarterly EPS of $0.53, beating estimates by $2.10, but revenue of $120.16 million fell short of the $133.20 million consensus estimate; analysts expect a full-year loss of $2.29 per share.

Traeger (NYSE:COOK - Get Free Report) had its price objective increased by research analysts at Telsey Advisory Group from $45.00 to $65.00 in a note issued to investors on Thursday. The brokerage presently has a "market perform" rating on the stock. Telsey Advisory Group's price target points to a potential downside of 3.53% from the company's previous close.

Other research analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of Traeger from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Robert W. Baird set a $40.00 price objective on Traeger in a report on Tuesday, May 12th. B. Riley Financial reiterated a "neutral" rating and set a $40.00 target price (up from $30.00) on shares of Traeger in a research report on Tuesday, May 12th. Weiss Ratings upgraded Traeger from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday, June 8th. Finally, Zacks Research upgraded shares of Traeger from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $53.42.

Traeger Price Performance

Shares of COOK stock opened at $67.38 on Thursday. Traeger has a 12 month low of $20.91 and a 12 month high of $87.88. The company has a market capitalization of $187.32 million, a P/E ratio of -1.61 and a beta of 1.97. The stock has a 50 day moving average of $68.32 and a two-hundred day moving average of $51.01. The company has a current ratio of 3.40, a quick ratio of 2.01 and a debt-to-equity ratio of 2.29.

Traeger (NYSE:COOK - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.57) by $2.10. The firm had revenue of $120.16 million for the quarter, compared to analyst estimates of $133.20 million. Traeger had a negative net margin of 21.84% and a negative return on equity of 13.76%. As a group, equities analysts expect that Traeger will post -2.29 EPS for the current year.

Institutional Trading of Traeger

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in Traeger by 9,116.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,368,133 shares of the company's stock worth $2,889,000 after purchasing an additional 2,342,438 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in shares of Traeger by 100.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,000,000 shares of the company's stock valued at $2,160,000 after buying an additional 1,000,000 shares during the period. FreeGulliver LLC bought a new stake in shares of Traeger during the fourth quarter worth $248,000. Bridgeway Capital Management LLC raised its holdings in shares of Traeger by 27.1% during the third quarter. Bridgeway Capital Management LLC now owns 866,761 shares of the company's stock worth $1,057,000 after acquiring an additional 185,014 shares during the period. Finally, MYDA Advisors LLC acquired a new stake in shares of Traeger during the fourth quarter worth $173,000. 46.84% of the stock is owned by institutional investors.

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.

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