Traeger, Inc. (NYSE:COOK) Given Consensus Recommendation of “Hold” by Brokerages

Traeger, Inc. (NYSE:COOK) has been given an average rating of “Hold” by the six research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $2.79.

Several equities analysts recently issued reports on COOK shares. Telsey Advisory Group cut Traeger from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $4.00 to $2.50 in a research report on Friday, March 7th. Morgan Stanley dropped their price objective on Traeger from $3.00 to $2.50 and set an “underweight” rating on the stock in a research report on Friday, March 7th. Piper Sandler decreased their target price on Traeger from $3.75 to $2.50 and set a “neutral” rating for the company in a research report on Friday, March 7th. Canaccord Genuity Group lowered their target price on shares of Traeger from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Finally, 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, March 7th.

Traeger Stock Up 0.3 %

Shares of Traeger stock opened at $1.70 on Tuesday. The company has a 50-day simple moving average of $2.19 and a two-hundred day simple moving average of $2.73. Traeger has a 52-week low of $1.63 and a 52-week high of $3.97. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.08 and a current ratio of 2.09. The stock has a market capitalization of $221.45 million, a PE ratio of -4.24 and a beta of 1.32.

Hedge Funds Weigh In On Traeger

A number of institutional investors and hedge funds have recently made changes to their positions in COOK. Jacobs Levy Equity Management Inc. raised its position in 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 acquiring an additional 226,750 shares during the period. XTX Topco Ltd purchased a new stake in shares of Traeger in the 3rd quarter worth $118,000. Barclays PLC raised its holdings in Traeger by 271.7% in the 3rd quarter. Barclays PLC now owns 44,861 shares of the company’s stock worth $166,000 after purchasing an additional 32,793 shares during the period. Empowered Funds LLC lifted its position in Traeger by 5.3% during the fourth quarter. Empowered Funds LLC now owns 153,425 shares of the company’s stock valued at $367,000 after purchasing an additional 7,662 shares in the last quarter. Finally, State Street Corp grew its holdings in Traeger by 2.4% during the third quarter. State Street Corp now owns 789,912 shares of the company’s stock valued at $2,907,000 after purchasing an additional 18,671 shares during the period. 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.