Traeger, Inc. (NYSE:COOK) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Traeger, Inc. (NYSE:COOK) have been assigned a consensus rating of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $2.83.

Several research firms have weighed in on COOK. Robert W. Baird dropped their price objective on shares of Traeger from $3.50 to $2.50 and set a “neutral” rating on the stock in a research note on Friday. Piper Sandler cut their price objective on Traeger from $3.75 to $2.50 and set a “neutral” rating for the company in a report on Friday. Morgan Stanley dropped their target price on Traeger from $3.00 to $2.50 and set an “underweight” rating on the stock in a research report on Friday. Telsey Advisory Group lowered Traeger from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $4.00 to $2.50 in a report on Friday. Finally, Royal Bank of Canada dropped their price objective on Traeger from $2.75 to $2.00 and set a “sector perform” rating on the stock in a report on Friday.

Traeger Stock Up 0.5 %

Shares of COOK traded up $0.01 during trading hours on Friday, reaching $2.17. The company’s stock had a trading volume of 505,817 shares, compared to its average volume of 147,294. The company has a 50 day moving average of $2.39 and a two-hundred day moving average of $2.95. The company has a quick ratio of 1.08, a current ratio of 2.09 and a debt-to-equity ratio of 1.42. The firm has a market cap of $283.41 million, a price-to-earnings ratio of -5.42 and a beta of 1.32. Traeger has a 1-year low of $1.82 and a 1-year high of $3.97.

Institutional Trading of Traeger

Large investors have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. boosted its holdings in Traeger by 724.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 258,058 shares of the company’s stock valued at $950,000 after acquiring an additional 226,750 shares during the period. Empowered Funds LLC boosted its stake in Traeger by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 145,763 shares of the company’s stock valued at $536,000 after purchasing an additional 7,370 shares during the period. XTX Topco Ltd acquired a new stake in Traeger in the 3rd quarter valued at approximately $118,000. Barclays PLC increased its position in Traeger by 271.7% in the 3rd quarter. Barclays PLC now owns 44,861 shares of the company’s stock worth $166,000 after buying an additional 32,793 shares during the period. Finally, State Street Corp boosted its position in shares of Traeger by 2.4% in the third quarter. State Street Corp now owns 789,912 shares of the company’s stock valued at $2,907,000 after acquiring an additional 18,671 shares during the period. 46.84% of the stock is owned by 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.