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

Traeger, Inc. (NYSE:COOK - Get Free Report) has been assigned an average rating of "Hold" from the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $2.44.

Several research analysts have commented on the stock. B. Riley reissued a "buy" rating and issued a $3.00 price target (down from $4.00) on shares of Traeger in a report on Friday, May 2nd. UBS Group set a $2.50 price target on shares of Traeger in a report on Friday, March 7th. Telsey Advisory Group cut their price target on shares of Traeger from $2.50 to $2.00 and set a "market perform" rating for the company in a report on Friday, May 2nd. Canaccord Genuity Group cut their price target on shares of Traeger from $5.00 to $3.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Finally, Royal Bank Of Canada cut their price target on shares of Traeger from $2.75 to $2.00 and set a "sector perform" rating for the company in a report on Friday, March 7th.

Traeger Stock Performance

COOK traded down $0.02 on Friday, hitting $1.87. The company's stock had a trading volume of 249,035 shares, compared to its average volume of 256,983. The company's 50 day simple moving average is $1.50 and its 200-day simple moving average is $2.03. The company has a quick ratio of 1.09, a current ratio of 2.21 and a debt-to-equity ratio of 1.43. Traeger has a 12 month low of $1.28 and a 12 month high of $3.97. The firm has a market cap of $253.06 million, a P/E ratio of -8.11 and a beta of 1.38.

Insider Activity

In related news, CEO Jeremy Andrus acquired 300,762 shares of the stock in a transaction dated Wednesday, June 4th. The shares were purchased at an average price of $1.34 per share, for a total transaction of $403,021.08. Following the transaction, the chief executive officer now owns 13,805,554 shares in the company, valued at $18,499,442.36. This represents a 2.23% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders have purchased 730,387 shares of company stock worth $1,009,986. 14.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Traeger

Institutional investors and hedge funds have recently made changes to their positions in the stock. Graham Capital Management L.P. purchased a new stake in shares of Traeger during the 4th quarter valued at $37,000. Two Sigma Advisers LP lifted 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 purchasing an additional 21,500 shares during the last quarter. Two Sigma Securities LLC bought a new stake in Traeger in the fourth quarter worth $78,000. Bank of America Corp DE lifted its stake 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 during the last quarter. Finally, Deutsche Bank AG lifted its stake 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 during the last quarter. Hedge funds and other institutional investors own 46.84% of the company's stock.

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.