Brokerages Set Traeger, Inc. (NYSE:COOK) Target Price at $2.83

Traeger, Inc. (NYSE:COOK) has received an average recommendation of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $2.79.

A number of equities research analysts have commented on COOK shares. Royal Bank of Canada reduced their price target 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. Telsey Advisory Group downgraded Traeger from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $4.00 to $2.50 in a research note on Friday, March 7th. Morgan Stanley dropped their price target on Traeger from $3.00 to $2.50 and set an “underweight” rating on the stock in a research note on Friday, March 7th. Robert W. Baird cut their price target on Traeger from $3.50 to $2.50 and set a “neutral” rating on the stock in a report on Friday, March 7th. Finally, Piper Sandler decreased their price objective on Traeger from $3.75 to $2.50 and set a “neutral” rating for the company in a report on Friday, March 7th.

Traeger Price Performance

Shares of COOK opened at $1.78 on Friday. The firm has a market cap of $231.82 million, a PE ratio of -4.44 and a beta of 1.32. Traeger has a 52-week low of $1.71 and a 52-week high of $3.97. The business’s 50 day moving average price is $2.34 and its two-hundred day moving average price is $2.89. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.08 and a current ratio of 2.09.

Hedge Funds Weigh In On Traeger

Hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC lifted its holdings in shares of Traeger by 5.3% in the third quarter. Empowered Funds LLC now owns 145,763 shares of the company’s stock valued at $536,000 after purchasing an additional 7,370 shares in the last quarter. Drive Wealth Management LLC purchased a new stake in Traeger in the 3rd quarter valued at $118,000. Jacobs Levy Equity Management Inc. lifted its stake in Traeger by 724.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 258,058 shares of the company’s stock valued at $950,000 after acquiring an additional 226,750 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Traeger during the 3rd quarter worth $50,000. Finally, State Street Corp grew its stake in shares of Traeger by 2.4% in the 3rd quarter. State Street Corp now owns 789,912 shares of the company’s stock worth $2,907,000 after acquiring an additional 18,671 shares in the last quarter. Institutional investors and hedge funds 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.