Robert W. Baird Cuts Traeger (NYSE:COOK) Price Target to $2.50

Traeger (NYSE:COOK) had its price objective reduced by Robert W. Baird from $3.50 to $2.50 in a research note released on Friday,Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

COOK has been the topic of a number of other reports. Telsey Advisory Group lowered Traeger from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $4.00 to $2.50 in a report on Friday. Piper Sandler boosted their target price on Traeger from $3.50 to $3.75 and gave the company a “neutral” rating in a research note on Thursday, November 7th. 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 note on Friday. Finally, Royal Bank of Canada boosted their target price on Traeger from $2.50 to $2.75 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Traeger has a consensus rating of “Hold” and a consensus target price of $2.83.

Traeger Stock Performance

Shares of Traeger stock opened at $2.19 on Friday. The business’s fifty day simple moving average is $2.38 and its 200 day simple moving average is $2.93. The firm has a market capitalization of $286.54 million, a P/E ratio of -5.48 and a beta of 1.32. Traeger has a 12 month low of $1.82 and a 12 month 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 hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its position 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 purchasing an additional 4,445 shares in the last quarter. State Street Corp grew its position in Traeger by 2.4% during the third quarter. State Street Corp now owns 789,912 shares of the company’s stock worth $2,907,000 after buying an additional 18,671 shares in the last quarter. Bridgeway Capital Management LLC grew its position in Traeger by 1.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 650,725 shares of the company’s stock worth $1,555,000 after buying an additional 7,662 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Traeger by 84.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 475,411 shares of the company’s stock worth $1,136,000 after buying an additional 217,771 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Traeger by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 446,943 shares of the company’s stock worth $1,068,000 after buying an additional 4,246 shares in the last quarter. 46.84% of the stock is currently owned by hedge funds and other institutional investors.

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.