Traeger, Inc. (NYSE:COOK) Receives $2.13 Average PT from Brokerages

Traeger, Inc. (NYSE:COOK) has earned an average rating of “Hold” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $2.1250.

Several research firms have commented on COOK. Royal Bank Of Canada reduced their price objective on Traeger from $1.50 to $1.25 and set a “sector perform” rating for the company in a research note on Thursday, August 7th. Telsey Advisory Group cut their price target on Traeger from $2.00 to $1.75 and set a “market perform” rating for the company in a research note on Thursday, August 7th. Wall Street Zen cut Traeger from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Finally, B. Riley cut Traeger from a “buy” rating to a “neutral” rating and cut their price target for the stock from $3.00 to $1.50 in a research note on Wednesday, August 13th.

Traeger Price Performance

Shares of NYSE:COOK opened at $1.27 on Tuesday. The company has a 50-day simple moving average of $1.45 and a 200-day simple moving average of $1.56. Traeger has a one year low of $1.20 and a one year high of $3.97. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.38 and a current ratio of 2.92. The stock has a market capitalization of $171.90 million, a price-to-earnings ratio of -4.69 and a beta of 1.44.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Norden Group LLC raised its holdings in Traeger by 27.2% during the second quarter. Norden Group LLC now owns 23,350 shares of the company’s stock worth $40,000 after purchasing an additional 5,000 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Traeger by 202.8% during the fourth quarter. Two Sigma Advisers LP now owns 32,100 shares of the company’s stock worth $77,000 after purchasing an additional 21,500 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Traeger during the 2nd quarter worth approximately $57,000. Bank of America Corp DE raised its stake in shares of Traeger by 36.6% during the 4th quarter. Bank of America Corp DE now owns 33,314 shares of the company’s stock worth $80,000 after buying an additional 8,933 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Traeger by 231.8% during the 4th quarter. Deutsche Bank AG now owns 41,344 shares of the company’s stock worth $99,000 after buying an additional 28,883 shares in 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.