Piper Sandler Cuts Traeger (NYSE:COOK) Price Target to $2.50

Traeger (NYSE:COOK) had its price objective reduced by stock analysts at Piper Sandler from $3.75 to $2.50 in a report released on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price target points to a potential upside of 17.26% from the stock’s current price.

A number of other brokerages have also recently commented on COOK. Royal Bank of Canada raised their target price on Traeger from $2.50 to $2.75 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Robert W. Baird dropped their price objective on shares of Traeger from $3.50 to $2.50 and set a “neutral” rating for the company in a report on Friday. Telsey Advisory Group lowered shares of Traeger from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $4.00 to $2.50 in a report on Friday. Finally, Canaccord Genuity Group decreased their price target on shares of Traeger from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $3.05.

Traeger Trading Down 1.3 %

Shares of Traeger stock traded down $0.03 on Friday, reaching $2.13. The company had a trading volume of 372,155 shares, compared to its average volume of 143,850. The firm has a market cap of $278.44 million, a PE ratio of -5.16 and a beta of 1.32. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.08 and a current ratio of 2.09. Traeger has a 52-week low of $1.82 and a 52-week high of $3.97. The firm’s 50 day moving average price is $2.39 and its two-hundred day moving average price is $2.95.

Institutional Trading of Traeger

Several hedge funds have recently added to or reduced their stakes in COOK. Jacobs Levy Equity Management Inc. increased its position in shares of Traeger by 724.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 258,058 shares of the company’s stock valued at $950,000 after purchasing an additional 226,750 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Traeger by 5.3% during the third quarter. Empowered Funds LLC now owns 145,763 shares of the company’s stock worth $536,000 after purchasing an additional 7,370 shares in the last quarter. XTX Topco Ltd purchased a new position in Traeger in the third quarter valued at $118,000. Barclays PLC raised its stake in 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 buying an additional 32,793 shares in the last quarter. Finally, State Street Corp lifted its holdings in Traeger by 2.4% during the 3rd quarter. State Street Corp now owns 789,912 shares of the company’s stock worth $2,907,000 after buying an additional 18,671 shares during the last quarter. Institutional investors and hedge funds own 46.84% of the company’s stock.

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.