Traeger, Inc. (NYSE:COOK) Receives $2.44 Consensus Price Target from Analysts

Shares of Traeger, Inc. (NYSE:COOK - Get Free Report) have been assigned an average rating of "Hold" from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $2.3125.

COOK has been the topic of a number of recent research reports. Piper Sandler cut their price target on shares of Traeger from $2.50 to $2.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. B. Riley reissued a "buy" rating and set a $3.00 target price (down previously from $4.00) on shares of Traeger in a research report on Friday, May 2nd. Telsey Advisory Group reduced their target price on Traeger from $2.00 to $1.75 and set a "market perform" rating for the company in a report on Thursday. Royal Bank Of Canada decreased their price target on shares of Traeger from $1.50 to $1.25 and set a "sector perform" rating for the company in a research note on Thursday. Finally, Canaccord Genuity Group lowered their target price on Traeger from $5.00 to $3.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th.

Insiders Place Their Bets

In other news, CEO Jeremy Andrus bought 300,762 shares of Traeger stock in a transaction on Wednesday, June 4th. The shares were bought at an average cost of $1.34 per share, for a total transaction of $403,021.08. Following the acquisition, the chief executive officer owned 13,805,554 shares in the company, valued at approximately $18,499,442.36. This trade represents a 2.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders acquired a total of 730,387 shares of company stock worth $1,009,986 over the last ninety days. Company insiders own 14.70% of the company's stock.

Institutional Investors Weigh In On Traeger

Hedge funds have recently made changes to their positions in the business. Graham Capital Management L.P. acquired a new stake in Traeger in the 4th quarter valued at $37,000. Norden Group LLC lifted its holdings in Traeger by 27.2% during the 2nd quarter. Norden Group LLC now owns 23,350 shares of the company's stock worth $40,000 after buying an additional 5,000 shares during the last quarter. Two Sigma Advisers LP increased its stake in 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 last quarter. Two Sigma Securities LLC acquired a new position in Traeger during the 4th quarter valued at approximately $78,000. Finally, Bank of America Corp DE grew its position in shares of Traeger by 36.6% during the fourth quarter. Bank of America Corp DE now owns 33,314 shares of the company's stock worth $80,000 after acquiring an additional 8,933 shares during the last quarter. Institutional investors and hedge funds own 46.84% of the company's stock.

Traeger Trading Down 16.8%

Shares of Traeger stock traded down $0.29 during mid-day trading on Monday, hitting $1.41. The stock had a trading volume of 456,757 shares, compared to its average volume of 293,046. Traeger has a 12-month low of $1.28 and a 12-month high of $3.97. The firm has a 50-day moving average of $1.78 and a two-hundred day moving average of $1.83. The firm has a market cap of $191.87 million, a P/E ratio of -6.11 and a beta of 1.46. The company has a quick ratio of 1.09, a current ratio of 2.21 and a debt-to-equity ratio of 1.43.

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.