Royal Bank of Canada Cuts Traeger (NYSE:COOK) Price Target to $2.00

Traeger (NYSE:COOK) had its price objective cut by Royal Bank of Canada from $2.75 to $2.00 in a report released on Friday,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other research analysts also recently weighed in on the company. Telsey Advisory Group downgraded 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 research note on Friday. Canaccord Genuity Group dropped their price target on Traeger from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday. Piper Sandler dropped their price target on Traeger from $3.75 to $2.50 and set a “neutral” rating on the stock in a research note on Friday. Finally, Robert W. Baird dropped their price target on Traeger from $3.50 to $2.50 and set a “neutral” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Traeger currently has an average rating of “Hold” and an average target price of $2.83.

Traeger Stock Up 1.6 %

Shares of NYSE:COOK opened at $2.19 on Friday. The company has a market capitalization of $286.54 million, a price-to-earnings ratio of -5.48 and a beta of 1.32. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.09 and a quick ratio of 1.08. The business’s 50-day moving average is $2.38 and its 200-day moving average is $2.93. Traeger has a 1 year low of $1.82 and a 1 year high of $3.97.

Hedge Funds Weigh In On Traeger

Several institutional investors and hedge funds have recently bought and sold shares of the company. Empowered Funds LLC raised its position in shares of Traeger by 5.3% in the third quarter. Empowered Funds LLC now owns 145,763 shares of the company’s stock worth $536,000 after buying an additional 7,370 shares in the last quarter. Drive Wealth Management LLC purchased a new stake in shares of Traeger in the third quarter worth $118,000. Jacobs Levy Equity Management Inc. raised its position in shares of Traeger by 724.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 258,058 shares of the company’s stock worth $950,000 after buying an additional 226,750 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Traeger in the third quarter worth $50,000. Finally, State Street Corp raised its position in shares of Traeger by 2.4% in 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. 46.84% of the stock is owned by 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.