Traeger (NYSE:COOK) Stock Rating Reaffirmed by Royal Bank of Canada

Traeger (NYSE:COOK – Get Rating)‘s stock had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada in a research note issued to investors on Friday, Benzinga reports. They currently have a $3.00 target price on the stock. Royal Bank of Canada’s target price indicates a potential downside of 18.03% from the company’s current price.

Other analysts also recently issued research reports about the stock. Piper Sandler downgraded shares of Traeger from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $6.00 to $4.00 in a report on Wednesday. Canaccord Genuity Group began coverage on shares of Traeger in a research note on Thursday, November 17th. They set a “buy” rating and a $6.00 target price on the stock. Morgan Stanley cut their target price on shares of Traeger from $6.00 to $4.50 and set an “equal weight” rating on the stock in a research note on Friday. William Blair reaffirmed a “market perform” rating on shares of Traeger in a research note on Friday, December 16th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $3.50 price target on shares of Traeger in a research report on Friday. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Traeger presently has a consensus rating of “Hold” and an average target price of $5.88.

Traeger Stock Up 21.6 %

Traeger stock opened at $3.66 on Friday. Traeger has a fifty-two week low of $2.48 and a fifty-two week high of $9.91. The company’s 50-day moving average is $3.59 and its 200-day moving average is $3.34. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.66 and a current ratio of 2.13.

Hedge Funds Weigh In On Traeger

Hedge funds have recently bought and sold shares of the company. Barclays PLC lifted its stake in Traeger by 556.7% during the 4th 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. Point72 Hong Kong Ltd bought a new position in shares of Traeger in the 1st quarter worth approximately $74,000. Advisor Group Holdings Inc. lifted its stake in shares of Traeger by 37.3% in the 4th quarter. Advisor Group Holdings Inc. now owns 10,680 shares of the company’s stock worth $30,000 after purchasing an additional 2,900 shares during the period. Trexquant Investment LP purchased a new stake in Traeger in the 2nd quarter worth approximately $47,000. Finally, Brown Advisory Inc. purchased a new stake in Traeger in the 2nd quarter worth approximately $49,000. Institutional investors own 45.16% of the company’s stock.

Traeger Company Profile

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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.