Traeger (NYSE:COOK) Stock Price Expected to Rise, Piper Sandler Analyst Says

Traeger (NYSE:COOK) had its price objective hoisted by Piper Sandler from $3.50 to $3.75 in a research report released on Thursday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada raised their target price on shares of Traeger from $2.00 to $2.50 and gave the company a “sector perform” rating in a research note on Thursday, August 8th. Robert W. Baird raised their target price on shares of Traeger from $2.50 to $3.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $4.00 target price on shares of Traeger in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $4.00.

Traeger Stock Down 4.0 %

Traeger stock opened at $3.14 on Thursday. The stock has a market cap of $406.54 million, a price-to-earnings ratio of -7.85 and a beta of 1.25. The company has a current ratio of 2.04, a quick ratio of 1.21 and a debt-to-equity ratio of 1.34. The company’s 50-day moving average price is $3.37 and its two-hundred day moving average price is $2.81. Traeger has a 52 week low of $1.97 and a 52 week high of $3.97.

Hedge Funds Weigh In On Traeger

Several hedge funds have recently made changes to their positions in the business. Empowered Funds LLC grew its stake in shares of Traeger by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 145,763 shares of the company’s stock worth $536,000 after purchasing an additional 7,370 shares during the last quarter. Diversify Wealth Management LLC grew its stake in shares of Traeger by 5.4% in the 3rd quarter. Diversify Wealth Management LLC now owns 164,547 shares of the company’s stock worth $606,000 after purchasing an additional 8,499 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Traeger in the 1st quarter worth approximately $27,000. AQR Capital Management LLC acquired a new position in shares of Traeger in the 2nd quarter worth approximately $52,000. Finally, Norden Group LLC acquired a new position in shares of Traeger in the first quarter worth about $59,000. 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.