Canaccord Genuity Group Cuts Traeger (NYSE:COOK) Price Target to $3.00

Traeger (NYSE:COOK - Get Free Report) had its price objective lowered by research analysts at Canaccord Genuity Group from $5.00 to $3.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's target price indicates a potential upside of 104.78% from the company's current price.

COOK has been the topic of several other reports. Morgan Stanley decreased their target price on shares of Traeger from $3.00 to $2.50 and set an "underweight" rating on the stock in a research report on Friday, March 7th. Piper Sandler lowered their price objective on shares of Traeger from $3.75 to $2.50 and set a "neutral" rating for the company in a research note on Friday, March 7th. Robert W. Baird cut their target price on Traeger from $3.50 to $2.50 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Telsey Advisory Group reissued a "market perform" rating and set a $2.50 price target on shares of Traeger in a research report on Monday, April 7th. Finally, UBS Group set a $2.50 price target on Traeger in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $2.50.

Traeger Stock Performance

Traeger stock opened at $1.47 on Tuesday. The stock has a fifty day moving average price of $1.76 and a 200 day moving average price of $2.43. The company has a current ratio of 2.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.42. Traeger has a 52 week low of $1.32 and a 52 week high of $3.97. The firm has a market capitalization of $191.40 million, a P/E ratio of -3.66 and a beta of 1.42.

Institutional Investors Weigh In On Traeger

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC lifted its position in Traeger by 271.7% during the 3rd quarter. Barclays PLC now owns 44,861 shares of the company's stock worth $166,000 after acquiring an additional 32,793 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Traeger by 5.3% during the fourth quarter. Empowered Funds LLC now owns 153,425 shares of the company's stock valued at $367,000 after purchasing an additional 7,662 shares during the period. State Street Corp lifted its position in shares of Traeger by 2.4% during the third quarter. State Street Corp now owns 789,912 shares of the company's stock worth $2,907,000 after purchasing an additional 18,671 shares in the last quarter. Bailard Inc. lifted its position in shares of Traeger by 76.5% during the fourth quarter. Bailard Inc. now owns 72,300 shares of the company's stock worth $173,000 after purchasing an additional 31,344 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in shares of Traeger by 1.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 650,725 shares of the company's stock valued at $1,555,000 after purchasing an additional 7,662 shares during the period. Hedge funds and other institutional investors own 46.84% of the company's stock.

About Traeger

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.

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