Analysts Set Traeger, Inc. (NYSE:COOK) Price Target at $2.44

Traeger, Inc. (NYSE:COOK) has received an average rating of “Hold” from the seven analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have 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 $2.44.

Several equities research analysts recently issued reports on COOK shares. Morgan Stanley decreased their price target on shares of Traeger from $3.00 to $2.50 and set an “underweight” rating on the stock in a report on Friday, March 7th. Telsey Advisory Group decreased their price target on shares of Traeger from $2.50 to $2.00 and set a “market perform” rating on the stock in a report on Friday, May 2nd. Royal Bank of Canada decreased their price target on shares of Traeger from $2.75 to $2.00 and set a “sector perform” rating on the stock in a report on Friday, March 7th. Canaccord Genuity Group cut their target price on shares of Traeger from $5.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Finally, B. Riley reiterated a “buy” rating and set a $3.00 target price (down from $4.00) on shares of Traeger in a research report on Friday, May 2nd.

Institutional Investors Weigh In On Traeger

Several hedge funds have recently added to or reduced their stakes in COOK. American Century Companies Inc. boosted its stake in shares of Traeger by 8.3% in the 4th 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 4th quarter. Charles Schwab Investment Management Inc. now owns 446,943 shares of the company’s stock valued at $1,068,000 after purchasing an additional 4,246 shares during the last quarter. 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 during the last quarter. Geode Capital Management LLC boosted its stake in shares of Traeger by 0.4% in the 4th 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 during the last quarter. Finally, Barclays PLC boosted its stake in shares of Traeger by 15.9% in the 4th quarter. Barclays PLC now owns 51,987 shares of the company’s stock valued at $124,000 after purchasing an additional 7,126 shares during the last quarter. 46.84% of the stock is currently owned by institutional investors and hedge funds.

Traeger Trading Down 2.6%

Shares of Traeger stock opened at $1.31 on Wednesday. The firm has a market capitalization of $177.08 million, a PE ratio of -3.26 and a beta of 1.43. The company has a current ratio of 2.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.42. The firm’s 50 day moving average is $1.51 and its 200 day moving average is $2.20. Traeger has a 1 year low of $1.28 and a 1 year high of $3.97.

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.