Analysts Set Traeger, Inc. (NYSE:COOK) Price Target at $2.44

Shares of Traeger, Inc. (NYSE:COOK - Get Free Report) have received an average recommendation of "Hold" from the seven analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $2.44.

COOK has been the topic of several research reports. Telsey Advisory Group decreased their price target on shares of Traeger from $2.50 to $2.00 and set a "market perform" rating on the stock in a research note on Friday, May 2nd. Canaccord Genuity Group decreased their price target on shares of Traeger from $5.00 to $3.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. B. Riley reissued a "buy" rating and issued a $3.00 price target (down from $4.00) on shares of Traeger in a research note on Friday, May 2nd. Finally, Piper Sandler decreased 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.

Insider Buying and Selling

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, with a total value of $403,021.08. Following the completion of the purchase, the chief executive officer directly owned 13,805,554 shares of the company's stock, valued at approximately $18,499,442.36. This trade represents a 2.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have bought 730,387 shares of company stock worth $1,009,986 over the last quarter. 14.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Traeger

A number of institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of Traeger by 84.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 475,411 shares of the company's stock valued at $1,136,000 after acquiring an additional 217,771 shares during the last quarter. Two Sigma Investments LP increased its position 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 acquiring an additional 30,539 shares during the last quarter. Two Sigma Advisers LP increased its position 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 acquiring an additional 21,500 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Traeger by 758.1% during the fourth quarter. JPMorgan Chase & Co. now owns 135,984 shares of the company's stock valued at $325,000 after acquiring an additional 120,136 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position in shares of Traeger by 36.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 232,052 shares of the company's stock valued at $555,000 after acquiring an additional 61,923 shares during the last quarter. 46.84% of the stock is owned by hedge funds and other institutional investors.

Traeger Price Performance

Shares of NYSE:COOK traded down $0.04 during midday trading on Thursday, hitting $1.96. The company's stock had a trading volume of 525,597 shares, compared to its average volume of 261,902. The business's 50 day simple moving average is $1.63 and its 200 day simple moving average is $1.89. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.09 and a current ratio of 2.21. The company has a market cap of $265.95 million, a P/E ratio of -8.52 and a beta of 1.46. Traeger has a 12-month low of $1.28 and a 12-month high of $3.97.

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.