Traeger, Inc. (NYSE:COOK) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Traeger, Inc. (NYSE:COOK) has received a consensus rating of "Hold" from seven research firms, with one analyst suggesting a sell and one a buy recommendation.
• The average 1-year price target for Traeger stock is $2.1250, while recent downgrades from various firms have significantly lowered expectations for its share price.
• Institutional investors currently hold 46.84% of Traeger stock, with notable increases in holdings from major firms like Bank of America and Deutsche Bank in the last quarter.

Shares of Traeger, Inc. (NYSE:COOK - Get Free Report) have earned a consensus rating of "Hold" from the seven research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has 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 target among analysts that have covered the stock in the last year is $2.1250.

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

Traeger Trading Down 2.7%

COOK opened at $1.27 on Tuesday. Traeger has a twelve month low of $1.20 and a twelve month high of $3.97. The company has a 50-day simple moving average of $1.49 and a 200 day simple moving average of $1.57. The company has a quick ratio of 1.38, a current ratio of 2.92 and a debt-to-equity ratio of 1.45. The stock has a market capitalization of $171.90 million, a price-to-earnings ratio of -4.69 and a beta of 1.44.

Hedge Funds Weigh In On Traeger

A number of hedge funds and other institutional investors have recently made changes to their positions in COOK. Bank of America Corp DE raised its holdings in Traeger by 36.6% in the fourth quarter. Bank of America Corp DE now owns 33,314 shares of the company's stock worth $80,000 after purchasing an additional 8,933 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings 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 purchasing an additional 61,923 shares in the last quarter. Deutsche Bank AG raised its holdings in Traeger by 231.8% in the fourth quarter. Deutsche Bank AG now owns 41,344 shares of the company's stock worth $99,000 after purchasing an additional 28,883 shares in the last quarter. Millennium Management LLC raised its holdings in Traeger by 1.1% in the fourth quarter. Millennium Management LLC now owns 407,265 shares of the company's stock worth $973,000 after purchasing an additional 4,433 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings 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 purchasing an additional 30,539 shares in the last quarter. 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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