Brokerages Set Traeger, Inc. (NYSE:COOK) PT at $2.79

Traeger, Inc. (NYSE:COOK) has received a consensus rating of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $2.79.

Several research firms have recently commented on COOK. Morgan Stanley cut their price objective on Traeger from $3.00 to $2.50 and set an “underweight” rating for the company in a report on Friday, March 7th. Robert W. Baird cut their price target on shares of Traeger from $3.50 to $2.50 and set a “neutral” rating for the company in a research note on Friday, March 7th. Telsey Advisory Group downgraded shares of Traeger from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $4.00 to $2.50 in a research report on Friday, March 7th. Piper Sandler dropped their target price on shares of Traeger from $3.75 to $2.50 and set a “neutral” rating on the stock in a report on Friday, March 7th. Finally, Royal Bank of Canada reduced their price target on Traeger from $2.75 to $2.00 and set a “sector perform” rating for the company in a report on Friday, March 7th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of COOK. Graham Capital Management L.P. acquired a new stake in Traeger during the fourth quarter worth approximately $37,000. Quadrature Capital Ltd bought a new position in shares of Traeger during the third quarter worth approximately $50,000. Public Employees Retirement System of Ohio lifted its holdings in Traeger by 70.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,883 shares of the company’s stock worth $62,000 after purchasing an additional 7,006 shares during the last quarter. Two Sigma Advisers LP boosted its stake in Traeger by 202.8% in the 4th quarter. Two Sigma Advisers LP now owns 32,100 shares of the company’s stock valued at $77,000 after purchasing an additional 21,500 shares during the period. Finally, Two Sigma Securities LLC bought a new stake in Traeger in the 4th quarter valued at $78,000. Institutional investors and hedge funds own 46.84% of the company’s stock.

Traeger Stock Performance

COOK opened at $1.50 on Tuesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.08 and a current ratio of 2.09. The business’s 50-day simple moving average is $2.11 and its 200 day simple moving average is $2.69. The firm has a market capitalization of $195.32 million, a PE ratio of -3.74 and a beta of 1.42. Traeger has a 52-week low of $1.44 and a 52-week high of $3.97.

Traeger Company Profile

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.