Piper Sandler Cuts Traeger (NYSE:COOK) Price Target to $2.50

Traeger (NYSE:COOK) had its price objective decreased by Piper Sandler from $3.75 to $2.50 in a research note published on Friday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Several other research firms have also recently weighed in on COOK. Royal Bank of Canada increased their target price on shares of Traeger from $2.50 to $2.75 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Canaccord Genuity Group cut their price target on Traeger from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday. Robert W. Baird decreased their price objective on Traeger from $3.50 to $2.50 and set a “neutral” rating on the stock in a report on Friday. Finally, Telsey Advisory Group cut Traeger from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $4.00 to $2.50 in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Traeger has a consensus rating of “Hold” and an average target price of $2.83.

Traeger Price Performance

NYSE:COOK opened at $2.19 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.09 and a quick ratio of 1.08. Traeger has a one year low of $1.82 and a one year high of $3.97. The company has a fifty day moving average price of $2.38 and a 200 day moving average price of $2.93. The stock has a market cap of $286.54 million, a P/E ratio of -5.48 and a beta of 1.32.

Hedge Funds Weigh In On Traeger

A number of hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC boosted its stake in Traeger by 61.0% in the 4th quarter. Squarepoint Ops LLC now owns 120,003 shares of the company’s stock valued at $287,000 after buying an additional 45,469 shares in the last quarter. Two Sigma Advisers LP raised its stake in Traeger by 202.8% during the fourth quarter. Two Sigma Advisers LP now owns 32,100 shares of the company’s stock worth $77,000 after acquiring an additional 21,500 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of Traeger by 32.7% during the fourth quarter. Two Sigma Investments LP now owns 123,931 shares of the company’s stock valued at $296,000 after acquiring an additional 30,539 shares during the period. Millennium Management LLC boosted its stake in shares of Traeger by 1.1% in the 4th quarter. Millennium Management LLC now owns 407,265 shares of the company’s stock valued at $973,000 after purchasing an additional 4,433 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Traeger by 19.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 307,882 shares of the company’s stock valued at $736,000 after purchasing an additional 49,824 shares in the last quarter. 46.84% of the stock is owned by institutional investors and hedge funds.

About Traeger

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.