Traeger, Inc. (NYSE:COOK) Receives $2.13 Average Target Price from Brokerages

Key Points

• Traeger, Inc. has received a consensus recommendation of "Hold" from seven analysts, with one sell rating, five hold ratings, and one buy rating.
• CEO Jeremy Andrus purchased 176,425 shares at an average price of $1.46, increasing his stake in the company by 1.26%.
• Several institutional investors significantly increased their positions in Traeger, with Dimensional Fund Advisors LP raising its stake by 84.5% during the fourth quarter.

Traeger, Inc. (NYSE:COOK - Get Free Report) has been assigned a consensus recommendation of "Hold" from the seven brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $2.1250.

COOK has been the subject of several recent analyst reports. Wall Street Zen lowered Traeger from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Telsey Advisory Group cut their price objective on Traeger from $2.00 to $1.75 and set a "market perform" rating for the company in a report on Thursday, August 7th. B. Riley lowered Traeger from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $3.00 to $1.50 in a report on Wednesday, August 13th. Finally, Royal Bank Of Canada cut their price objective on Traeger from $1.50 to $1.25 and set a "sector perform" rating for the company in a report on Thursday, August 7th.

Traeger Price Performance

Shares of NYSE COOK traded up $0.04 during midday trading on Friday, hitting $1.29. 503,817 shares of the company's stock were exchanged, compared to its average volume of 340,937. Traeger has a 12-month low of $1.24 and a 12-month high of $3.97. The company has a current ratio of 2.92, a quick ratio of 1.38 and a debt-to-equity ratio of 1.45. The company has a market cap of $174.61 million, a price-to-earnings ratio of -4.76 and a beta of 1.44. The business's fifty day moving average price is $1.66 and its two-hundred day moving average price is $1.68.

Insider Activity at Traeger

In other Traeger news, CEO Jeremy Andrus acquired 300,762 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was bought at an average price of $1.34 per share, with a total value of $403,021.08. Following the completion of the acquisition, the chief executive officer owned 13,805,554 shares of the company's stock, valued at $18,499,442.36. This trade represents a 2.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders bought a total of 727,187 shares of company stock worth $1,005,602 over the last ninety days. 14.70% of the stock is currently owned by insiders.

Institutional Trading of Traeger

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in Traeger by 84.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 475,411 shares of the company's stock worth $1,136,000 after buying an additional 217,771 shares in the last quarter. Two Sigma Investments LP boosted its stake in Traeger by 32.7% in the fourth quarter. Two Sigma Investments LP now owns 123,931 shares of the company's stock worth $296,000 after buying an additional 30,539 shares in the last quarter. Two Sigma Advisers LP boosted its stake in Traeger by 202.8% in the fourth quarter. Two Sigma Advisers LP now owns 32,100 shares of the company's stock worth $77,000 after buying an additional 21,500 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in Traeger by 36.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 232,052 shares of the company's stock worth $555,000 after buying an additional 61,923 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Traeger by 758.1% in the fourth quarter. JPMorgan Chase & Co. now owns 135,984 shares of the company's stock worth $325,000 after buying an additional 120,136 shares in the last quarter. 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.