Traeger (NYSE:COOK) Price Target Cut to $75.00 by Analysts at Canaccord Genuity Group

Traeger (NYSE:COOK) had its price objective cut by Canaccord Genuity Group from $100.00 to $75.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

COOK has been the topic of several other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Traeger in a research report on Monday, December 29th. B. Riley Financial restated a “neutral” rating and set a $40.00 target price (down from $50.00) on shares of Traeger in a research report on Friday, March 6th. Piper Sandler cut their target price on shares of Traeger from $75.00 to $37.50 and set a “neutral” rating for the company in a research note on Friday, March 6th. Telsey Advisory Group reduced their price target on shares of Traeger from $75.00 to $50.00 and set a “market perform” rating on the stock in a report on Friday, March 6th. Finally, Wall Street Zen cut shares of Traeger from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $53.00.

Traeger Stock Performance

NYSE COOK opened at $24.48 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 2.68 and a debt-to-equity ratio of 2.34. Traeger has a twelve month low of $20.91 and a twelve month high of $110.50. The business has a 50-day moving average price of $42.78 and a 200-day moving average price of $48.63. The firm has a market cap of $67.06 million, a price-to-earnings ratio of -0.56 and a beta of 1.41.

Traeger (NYSE:COOK) last issued its earnings results on Friday, March 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.99). Traeger had a negative net margin of 20.59% and a negative return on equity of 12.01%. The business had revenue of $145.36 million for the quarter, compared to the consensus estimate of $135.05 million. As a group, equities research analysts predict that Traeger will post -0.12 EPS for the current fiscal year.

Institutional Trading of Traeger

Institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its stake in Traeger by 9,116.3% during the third quarter. JPMorgan Chase & Co. now owns 2,368,133 shares of the company’s stock worth $2,889,000 after buying an additional 2,342,438 shares during the period. Artisan Partners Limited Partnership raised its stake in shares of Traeger by 100.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 2,000,000 shares of the company’s stock valued at $2,160,000 after acquiring an additional 1,000,000 shares during the period. Bridgeway Capital Management LLC lifted its holdings in shares of Traeger by 27.1% in the 3rd quarter. Bridgeway Capital Management LLC now owns 866,761 shares of the company’s stock worth $1,057,000 after acquiring an additional 185,014 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Traeger by 20.2% in the 3rd quarter. Millennium Management LLC now owns 498,259 shares of the company’s stock worth $608,000 after acquiring an additional 83,796 shares during the last quarter. Finally, Drive Wealth Management LLC boosted its stake in shares of Traeger by 107.4% during the 3rd quarter. Drive Wealth Management LLC now owns 472,150 shares of the company’s stock worth $576,000 after purchasing an additional 244,493 shares during the period. 46.84% of the stock is currently owned by institutional investors.

About Traeger

Traeger, trading on the NYSE under the ticker COOK, is a designer, manufacturer and marketer of wood pellet grills and outdoor cooking appliances. The company’s core product lineup features a range of hardwood-pellet grills that combine wood-fired flavor with digital temperature control. Beyond grills, Traeger offers a suite of accessories—such as grill covers, smoking woods, meat probes and recipe rubs—as well as outdoor kitchen solutions designed to serve both consumer and light-commercial segments.

Founded in 1985 by Joe Traeger, the brand pioneered the wood-pellet grilling category.