Morgan Stanley Has Lowered Expectations for Traeger (NYSE:COOK) Stock Price

Traeger (NYSE:COOK) had its target price decreased by Morgan Stanley from $3.00 to $2.50 in a report released on Friday morning,Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

A number of other equities analysts have also commented on the stock. Royal Bank of Canada decreased their price objective on shares of Traeger from $2.75 to $2.00 and set a “sector perform” rating for the company in a research note on Friday. Piper Sandler cut their target price on shares of Traeger from $3.75 to $2.50 and set a “neutral” rating for the company in a research report on Friday. Robert W. Baird cut their target price on shares of Traeger from $3.50 to $2.50 and set a “neutral” rating for the company in a research report on Friday. Telsey Advisory Group downgraded shares of Traeger from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $4.00 to $2.50 in a research report on Friday. Finally, Canaccord Genuity Group cut their target price on shares of Traeger from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Traeger presently has a consensus rating of “Hold” and a consensus target price of $2.83.

Traeger Trading Up 1.6 %

Traeger stock opened at $2.19 on Friday. The company has a 50 day moving average price of $2.39 and a 200 day moving average price of $2.95. Traeger has a 52 week low of $1.82 and a 52 week high of $3.97. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.08 and a current ratio of 2.09. The firm has a market capitalization of $286.54 million, a price-to-earnings ratio of -5.48 and a beta of 1.32.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of COOK. Graham Capital Management L.P. bought a new position in shares of Traeger during the 4th quarter valued at $37,000. Quadrature Capital Ltd bought a new position in shares of Traeger during the 3rd quarter valued at $50,000. Public Employees Retirement System of Ohio raised its holdings in shares of Traeger by 70.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,883 shares of the company’s stock valued at $62,000 after purchasing an additional 7,006 shares in the last quarter. Two Sigma Advisers LP raised its holdings in shares of Traeger by 202.8% during the 4th quarter. Two Sigma Advisers LP now owns 32,100 shares of the company’s stock valued at $77,000 after purchasing an additional 21,500 shares in the last quarter. Finally, Two Sigma Securities LLC bought a new position in shares of Traeger during the 4th quarter valued at $78,000. Institutional investors 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.