Traeger, Inc. (NYSE:COOK) Receives $2.13 Consensus Target Price from Brokerages

Traeger, Inc. (NYSE:COOK) has been given an average recommendation of “Reduce” by the eight brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $2.1250.

COOK has been the topic of several analyst reports. B. Riley cut Traeger from a “buy” rating to a “neutral” rating and reduced their target price for the company from $3.00 to $1.50 in a report on Wednesday, August 13th. Royal Bank Of Canada reduced their target price on Traeger from $1.50 to $1.25 and set a “sector perform” rating on the stock in a report on Thursday, August 7th. Wall Street Zen cut Traeger from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Traeger in a report on Tuesday, October 14th. Finally, Telsey Advisory Group cut their price target on Traeger from $2.00 to $1.75 and set a “market perform” rating on the stock in a report on Thursday, August 7th.

Traeger Stock Performance

Shares of COOK stock opened at $1.05 on Friday. The business’s 50 day simple moving average is $1.23 and its 200 day simple moving average is $1.48. Traeger has a one year low of $0.98 and a one year high of $3.59. The stock has a market capitalization of $142.01 million, a PE ratio of -3.87 and a beta of 1.43. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.92 and a quick ratio of 1.38.

Hedge Funds Weigh In On Traeger

A number of institutional investors and hedge funds have recently modified their holdings of COOK. Strs Ohio bought a new position in shares of Traeger during the 1st quarter worth approximately $672,000. Fortitude Financial LLC bought a new position in shares of Traeger during the 2nd quarter worth approximately $422,000. Drive Wealth Management LLC bought a new position in shares of Traeger during the 2nd quarter worth approximately $389,000. Marshall Wace LLP boosted its holdings in shares of Traeger by 371.7% during the 2nd quarter. Marshall Wace LLP now owns 130,666 shares of the company’s stock worth $223,000 after buying an additional 102,967 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Traeger during the 2nd quarter worth approximately $163,000. 46.84% of the stock is currently 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.