Lord Abbett & CO. LLC Purchases Shares of 1,181,525 Traeger Inc (NYSE:COOK)

Lord Abbett & CO. LLC acquired a new position in Traeger Inc (NYSE:COOK) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,181,525 shares of the company’s stock, valued at approximately $24,729,000. Lord Abbett & CO. LLC owned about 1.01% of Traeger as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of COOK. Waratah Capital Advisors Ltd. purchased a new position in Traeger during the 3rd quarter valued at about $10,508,000. Advisory Services Network LLC acquired a new stake in shares of Traeger during the third quarter worth about $1,078,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Traeger in the third quarter valued at approximately $781,000. New York State Common Retirement Fund acquired a new position in shares of Traeger in the third quarter valued at approximately $4,188,000. Finally, Deutsche Bank AG purchased a new stake in Traeger during the 3rd quarter worth approximately $288,000. Hedge funds and other institutional investors own 43.78% of the company’s stock.

COOK has been the topic of a number of analyst reports. Zacks Investment Research lowered Traeger from a “hold” rating to a “sell” rating in a research report on Monday, November 22nd. Royal Bank of Canada decreased their price target on shares of Traeger from $29.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, November 17th. Credit Suisse Group dropped their price objective on shares of Traeger from $33.00 to $28.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 16th. Telsey Advisory Group decreased their price objective on shares of Traeger from $30.00 to $28.00 and set an “outperform” rating for the company in a research report on Tuesday, November 16th. Finally, Piper Sandler dropped their target price on Traeger from $30.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, November 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Traeger presently has an average rating of “Buy” and an average target price of $28.22.

NYSE COOK opened at $10.55 on Friday. Traeger Inc has a 52-week low of $10.15 and a 52-week high of $32.59. The business’s 50-day moving average price is $13.69. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.84 and a quick ratio of 0.94.

Traeger (NYSE:COOK) last released its quarterly earnings data on Monday, November 15th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.33. The firm had revenue of $162.02 million during the quarter, compared to analysts’ expectations of $140.89 million. Traeger had a negative return on equity of 2.85% and a negative net margin of 7.85%. The company’s revenue was up 11.7% compared to the same quarter last year. As a group, sell-side analysts predict that Traeger Inc will post -0.14 EPS for the current fiscal year.

In other news, insider James H. Hardy, Jr. bought 3,600 shares of the firm’s stock in a transaction on Friday, November 26th. The shares were bought at an average cost of $13.91 per share, for a total transaction of $50,076.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Traeger Profile

Traeger Inc provides wood pellet grill. The company’s pellet grills utilize wood-fired convection power, owners can grill, smoke, bake, roast, braise and barbecue meals on one cooking system. Traeger Inc is headquartered in Salt Lake City.

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Institutional Ownership by Quarter for Traeger (NYSE:COOK)

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