Traeger (NYSE:COOK) Price Target Raised to $2.75

Traeger (NYSE:COOK) had its target price lifted by analysts at Royal Bank of Canada from $2.50 to $2.75 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target points to a potential downside of 12.42% from the stock’s current price.

A number of other equities analysts have also recently issued reports on COOK. Canaccord Genuity Group upped their price objective on Traeger from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday. Robert W. Baird upped their target price on Traeger from $2.50 to $3.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Piper Sandler increased their price target on shares of Traeger from $3.50 to $3.75 and gave the company a “neutral” rating in a research report on Thursday. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $4.00 price objective on shares of Traeger in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $3.83.

Traeger Trading Down 4.0 %

Shares of Traeger stock opened at $3.14 on Thursday. The company has a debt-to-equity ratio of 1.34, a current ratio of 2.04 and a quick ratio of 1.21. Traeger has a 1 year low of $1.97 and a 1 year high of $3.97. The firm has a market cap of $406.54 million, a PE ratio of -7.66 and a beta of 1.25. The company has a 50 day simple moving average of $3.37 and a two-hundred day simple moving average of $2.80.

Traeger (NYSE:COOK) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The company had revenue of $168.47 million during the quarter, compared to the consensus estimate of $168.07 million. Traeger had a negative net margin of 8.50% and a negative return on equity of 12.65%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.23) EPS. Analysts expect that Traeger will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of Traeger

A number of institutional investors have recently made changes to their positions in COOK. Drive Wealth Management LLC bought a new stake in Traeger during the 3rd quarter valued at $118,000. Empowered Funds LLC increased its position in shares of Traeger by 5.3% in the third quarter. Empowered Funds LLC now owns 145,763 shares of the company’s stock valued at $536,000 after acquiring an additional 7,370 shares during the period. Diversify Wealth Management LLC raised its stake in shares of Traeger by 5.4% during the third quarter. Diversify Wealth Management LLC now owns 164,547 shares of the company’s stock valued at $606,000 after acquiring an additional 8,499 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Traeger during the third quarter worth about $51,000. Finally, AQR Capital Management LLC bought a new stake in shares of Traeger in the second quarter worth about $52,000. Hedge funds and other 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.