Brokerages Set Traeger, Inc. (NYSE:COOK) PT at $2.83

Traeger, Inc. (NYSE:COOK) has been assigned an average recommendation of “Hold” from the six brokerages that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $2.83.

A number of analysts have recently commented on the company. Royal Bank of Canada cut their price target on Traeger from $2.75 to $2.00 and set a “sector perform” rating on the stock in a report on Friday. Piper Sandler cut their price target on Traeger from $3.75 to $2.50 and set a “neutral” rating on the stock in a report on Friday. Morgan Stanley lowered their target price on Traeger from $3.00 to $2.50 and set an “underweight” rating on the stock in a research report on Friday. Canaccord Genuity Group lowered their target price on Traeger from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Robert W. Baird lowered their target price on Traeger from $3.50 to $2.50 and set a “neutral” rating on the stock in a research report on Friday.

Traeger Stock Performance

COOK stock opened at $2.19 on Friday. The firm has a market cap of $286.54 million, a PE ratio of -5.48 and a beta of 1.32. The business’s 50-day moving average price is $2.38 and its two-hundred day moving average price is $2.93. Traeger has a 1-year low of $1.82 and a 1-year high of $3.97. The company has a current ratio of 2.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.42.

Hedge Funds Weigh In On Traeger

Several institutional investors and hedge funds have recently made changes to their positions in the company. American Century Companies Inc. grew its position in shares of Traeger by 8.3% in the fourth quarter. American Century Companies Inc. now owns 53,950 shares of the company’s stock valued at $129,000 after purchasing an additional 4,153 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Traeger by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 446,943 shares of the company’s stock valued at $1,068,000 after buying an additional 4,246 shares during the period. Millennium Management LLC boosted its stake in shares of Traeger by 1.1% in the fourth quarter. Millennium Management LLC now owns 407,265 shares of the company’s stock valued at $973,000 after buying an additional 4,433 shares during the period. Geode Capital Management LLC boosted its stake in shares of Traeger by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,081,364 shares of the company’s stock valued at $2,585,000 after buying an additional 4,445 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Traeger by 70.9% in the third quarter. Public Employees Retirement System of Ohio now owns 16,883 shares of the company’s stock valued at $62,000 after buying an additional 7,006 shares during the period. Institutional investors and hedge funds own 46.84% of the company’s stock.

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.