Traeger, Inc. (NYSE:COOK) Given Consensus Recommendation of "Reduce" by Brokerages

Traeger, Inc. (NYSE:COOK - Get Free Report) has been assigned a consensus recommendation of "Reduce" from the eight ratings firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $2.1250.

Several research analysts have recently commented on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Traeger in a report on Tuesday. Royal Bank Of Canada lowered their price objective on Traeger from $1.50 to $1.25 and set a "sector perform" rating for the company in a research report on Thursday, August 7th. Wall Street Zen downgraded Traeger from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Telsey Advisory Group dropped their price target on shares of Traeger from $2.00 to $1.75 and set a "market perform" rating on the stock in a research note on Thursday, August 7th. Finally, B. Riley downgraded Traeger from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $3.00 to $1.50 in a report on Wednesday, August 13th.

Traeger Price Performance

Traeger stock opened at $1.02 on Friday. The company's fifty day moving average price is $1.26 and its 200 day moving average price is $1.50. Traeger has a 1 year low of $0.98 and a 1 year high of $3.59. The stock has a market capitalization of $137.93 million, a P/E ratio of -3.76 and a beta of 1.43. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.38 and a current ratio of 2.92.

Institutional Investors Weigh In On Traeger

Several hedge funds have recently modified their holdings of the stock. Norden Group LLC lifted its holdings in Traeger by 27.2% in the second quarter. Norden Group LLC now owns 23,350 shares of the company's stock valued at $40,000 after acquiring an additional 5,000 shares during the period. XTX Topco Ltd acquired a new stake in Traeger in the 2nd quarter worth about $57,000. Bank of America Corp DE boosted its stake in Traeger by 36.6% in the 4th quarter. Bank of America Corp DE now owns 33,314 shares of the company's stock worth $80,000 after buying an additional 8,933 shares during the last quarter. Evergreen Capital Management LLC acquired a new position in shares of Traeger in the 2nd quarter valued at about $93,000. Finally, Nuveen LLC acquired a new position in shares of Traeger in the 1st quarter valued at about $122,000. 46.84% of the stock is owned by institutional investors and hedge funds.

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.

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