Traeger (NYSE:COOK) Now Covered by Canaccord Genuity Group

Investment analysts at Canaccord Genuity Group started coverage on shares of Traeger (NYSE:COOKGet Rating) in a report released on Wednesday, The Fly reports. The brokerage set a “buy” rating and a $6.00 price target on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 52.28% from the stock’s previous close.

COOK has been the subject of a number of other reports. William Blair cut shares of Traeger from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 11th. Credit Suisse Group lowered their target price on shares of Traeger to $3.15 in a research report on Tuesday. Royal Bank of Canada decreased their price target on shares of Traeger from $7.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday, November 10th. Morgan Stanley reduced their target price on shares of Traeger from $8.00 to $6.00 and set an “equal weight” rating for the company in a research note on Friday, August 19th. Finally, Robert W. Baird cut shares of Traeger from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $7.00 to $4.00 in a research note on Thursday, August 11th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.38.

Traeger Trading Up 1.8 %

Traeger stock opened at $3.94 on Wednesday. The company has a 50 day moving average price of $3.36 and a 200 day moving average price of $3.87. The firm has a market capitalization of $465.85 million, a price-to-earnings ratio of -1.22 and a beta of 0.64. Traeger has a 52 week low of $2.52 and a 52 week high of $15.95. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.72 and a current ratio of 2.13.

Insiders Place Their Bets

In other news, CEO Jeremy Andrus purchased 148,878 shares of Traeger stock in a transaction dated Monday, October 17th. The shares were bought at an average cost of $2.90 per share, with a total value of $431,746.20. Following the completion of the transaction, the chief executive officer now directly owns 9,123,599 shares in the company, valued at approximately $26,458,437.10. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Traeger

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new position in Traeger in the 1st quarter valued at about $74,000. Trexquant Investment LP acquired a new position in Traeger in the 2nd quarter valued at about $47,000. Brown Advisory Inc. acquired a new position in Traeger in the 2nd quarter valued at about $49,000. SG Americas Securities LLC bought a new stake in Traeger in the 3rd quarter valued at about $35,000. Finally, Arizona State Retirement System bought a new stake in Traeger in the 2nd quarter valued at about $61,000. 43.01% of the stock is currently owned by institutional investors and hedge funds.

Traeger Company Profile

(Get Rating)

Traeger, Inc, together with its subsidiaries, designs, sources, sells, and supports wood pellet fueled barbeque 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.

Recommended Stories

The Fly logo

Analyst Recommendations for Traeger (NYSE:COOK)

Receive News & Ratings for Traeger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Traeger and related companies with MarketBeat.com's FREE daily email newsletter.