Traeger, Inc. (NYSE:COOK) Receives $2.44 Consensus PT from Analysts

Traeger, Inc. (NYSE:COOK) has been assigned an average recommendation of “Hold” from the seven brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $2.4375.

Several research firms have recently commented on COOK. Canaccord Genuity Group decreased their target price on shares of Traeger from $5.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, April 29th. Telsey Advisory Group reissued a “market perform” rating and set a $2.00 price objective on shares of Traeger in a report on Thursday, July 31st. B. Riley restated a “buy” rating and issued a $3.00 target price (down previously from $4.00) on shares of Traeger in a report on Friday, May 2nd. Finally, Piper Sandler cut their target price on Traeger from $2.50 to $2.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd.

Traeger Stock Performance

NYSE COOK opened at $1.72 on Monday. The company has a market cap of $233.93 million, a P/E ratio of -7.50 and a beta of 1.46. The company has a fifty day simple moving average of $1.78 and a 200 day simple moving average of $1.83. The company has a current ratio of 2.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.43. Traeger has a 12-month low of $1.28 and a 12-month high of $3.97.

Insider Activity at Traeger

In other Traeger news, CEO Jeremy Andrus acquired 176,425 shares of the business’s stock in a transaction on Friday, June 6th. The shares were acquired at an average price of $1.46 per share, with a total value of $257,580.50. Following the completion of the transaction, the chief executive officer owned 14,228,779 shares in the company, valued at approximately $20,774,017.34. This trade represents a 1.26% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders purchased 730,387 shares of company stock worth $1,009,986 over the last three months. Company insiders own 14.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in Traeger by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,081,364 shares of the company’s stock worth $2,585,000 after buying an additional 4,445 shares during the last quarter. Bridgeway Capital Management LLC grew its stake in shares of Traeger by 1.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 650,725 shares of the company’s stock worth $1,555,000 after acquiring an additional 7,662 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Traeger by 84.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 475,411 shares of the company’s stock worth $1,136,000 after acquiring an additional 217,771 shares during the period. Millennium Management LLC increased its holdings in Traeger by 1.1% in the 4th quarter. Millennium Management LLC now owns 407,265 shares of the company’s stock worth $973,000 after acquiring an additional 4,433 shares during the last quarter. Finally, Strs Ohio bought a new stake in Traeger in the 1st quarter valued at about $672,000. 46.84% of the stock is currently 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.