Traeger (NYSE:COOK) Price Target Cut to $3.00 by Analysts at Canaccord Genuity Group

Traeger (NYSE:COOK) had its price objective cut by Canaccord Genuity Group from $5.00 to $3.00 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently issued reports on COOK. Robert W. Baird dropped 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, March 7th. Royal Bank of Canada dropped their price objective 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. Morgan Stanley reduced their target price on Traeger from $3.00 to $2.50 and set an “underweight” rating for the company in a research note on Friday, March 7th. Piper Sandler dropped their price target on Traeger from $3.75 to $2.50 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $2.50 price target on shares of Traeger in a report on Monday, April 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Traeger presently has an average rating of “Hold” and a consensus target price of $2.50.

Traeger Stock Performance

Shares of Traeger stock opened at $1.51 on Tuesday. The company has a market cap of $196.63 million, a P/E ratio of -3.76 and a beta of 1.42. 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 business has a 50-day moving average price of $1.71 and a two-hundred day moving average price of $2.40. Traeger has a 1-year low of $1.32 and a 1-year high of $3.97.

Traeger (NYSE:COOK) last released its earnings results on Thursday, May 1st. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.03). Traeger had a negative return on equity of 10.57% and a negative net margin of 8.53%. As a group, analysts anticipate that Traeger will post -0.12 EPS for the current year.

Institutional Trading of Traeger

Several institutional investors and hedge funds have recently modified their holdings of COOK. State Street Corp raised its position in Traeger by 2.4% in the 3rd quarter. State Street Corp now owns 789,912 shares of the company’s stock valued at $2,907,000 after buying an additional 18,671 shares during the last quarter. Barclays PLC raised its holdings in shares of Traeger by 271.7% in the third quarter. Barclays PLC now owns 44,861 shares of the company’s stock valued at $166,000 after purchasing an additional 32,793 shares during the last quarter. Empowered Funds LLC lifted its position in shares of 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. Bailard Inc. lifted its position in shares of Traeger by 76.5% during the fourth quarter. Bailard Inc. now owns 72,300 shares of the company’s stock valued at $173,000 after purchasing an additional 31,344 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Traeger by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 446,943 shares of the company’s stock worth $1,068,000 after purchasing an additional 4,246 shares during the last quarter. 46.84% of the stock is owned by hedge funds and other 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.