Morgan Stanley Has Lowered Expectations for Traeger (NYSE:COOK) Stock Price

Traeger (NYSE:COOK) had its price target lowered by Morgan Stanley from $3.00 to $2.50 in a research note issued on Friday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 13.95% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Telsey Advisory Group lowered 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 report on Friday. Canaccord Genuity Group decreased their price objective on shares of Traeger from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday. Royal Bank of Canada decreased their price objective on shares of Traeger from $2.75 to $2.00 and set a “sector perform” rating for the company in a report on Friday. Piper Sandler cut their target price on shares of Traeger from $3.75 to $2.50 and set a “neutral” rating on the stock in a research report on Friday. Finally, Robert W. Baird cut their target price on shares of Traeger from $3.50 to $2.50 and set a “neutral” rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Traeger presently has a consensus rating of “Hold” and a consensus target price of $2.83.

Traeger Trading Up 1.6 %

Shares of COOK opened at $2.19 on Friday. Traeger has a 1-year low of $1.82 and a 1-year high of $3.97. The company has a 50-day moving average of $2.38 and a 200 day moving average of $2.94. The firm 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.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Graham Capital Management L.P. purchased a new position in shares of Traeger in the 4th quarter worth approximately $37,000. Quadrature Capital Ltd purchased a new position in shares of Traeger in the 3rd quarter worth approximately $50,000. Public Employees Retirement System of Ohio grew its position in shares of Traeger by 70.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,883 shares of the company’s stock worth $62,000 after buying an additional 7,006 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of Traeger by 202.8% in the 4th quarter. Two Sigma Advisers LP now owns 32,100 shares of the company’s stock worth $77,000 after buying an additional 21,500 shares during the last quarter. Finally, Two Sigma Securities LLC purchased a new position in shares of Traeger in the 4th quarter worth approximately $78,000. Hedge funds and other institutional investors own 46.84% of the company’s stock.

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.