Canaccord Genuity Group Issues Pessimistic Forecast for Traeger (NYSE:COOK) Stock Price

Traeger (NYSE:COOK - Free Report) had its target price cut by Canaccord Genuity Group from $5.00 to $3.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued research reports about the company. UBS Group set a $2.50 target price on Traeger in a report on Friday, March 7th. Morgan Stanley reduced their price objective on Traeger from $3.00 to $2.50 and set an "underweight" rating on the stock in a research note on Friday, March 7th. Robert W. Baird lowered their target price on shares of Traeger from $3.50 to $2.50 and set a "neutral" rating for the company in a research note on Friday, March 7th. Piper Sandler reduced their price target on shares of Traeger from $3.75 to $2.50 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Finally, Royal Bank of Canada decreased their price target on shares of Traeger from $2.75 to $2.00 and set a "sector perform" rating for the company in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $2.44.

Traeger Stock Down 0.7 %

Shares of Traeger stock traded down $0.01 during trading hours on Tuesday, hitting $1.47. 559,810 shares of the company's stock traded hands, compared to its average volume of 211,026. The company has a quick ratio of 1.08, a current ratio of 2.09 and a debt-to-equity ratio of 1.42. Traeger has a twelve month low of $1.32 and a twelve month high of $3.97. The stock has a 50 day simple moving average of $1.70 and a 200-day simple moving average of $2.38. The company has a market cap of $191.95 million, a PE ratio of -3.67 and a beta of 1.42.

Traeger (NYSE:COOK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.03). Traeger had a negative return on equity of 10.57% and a negative net margin of 8.53%. The business had revenue of $143.28 million for the quarter, compared to analysts' expectations of $140.63 million. Equities research analysts anticipate that Traeger will post -0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Traeger

A number of hedge funds have recently made changes to their positions in COOK. Squarepoint Ops LLC raised its stake in Traeger by 61.0% during the 4th quarter. Squarepoint Ops LLC now owns 120,003 shares of the company's stock valued at $287,000 after acquiring an additional 45,469 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of Traeger by 202.8% during the fourth 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 during the period. Two Sigma Investments LP raised its stake in shares of Traeger by 32.7% during the fourth quarter. Two Sigma Investments LP now owns 123,931 shares of the company's stock valued at $296,000 after purchasing an additional 30,539 shares in the last quarter. Millennium Management LLC lifted its holdings in Traeger by 1.1% in the fourth quarter. Millennium Management LLC now owns 407,265 shares of the company's stock worth $973,000 after purchasing an additional 4,433 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in Traeger by 19.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 307,882 shares of the company's stock valued at $736,000 after buying an additional 49,824 shares in the last quarter. 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.