Traeger (NYSE:COOK) Stock Rating Lowered by Wall Street Zen

Key Points

• Traeger (NYSE:COOK) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating, amid several other analysts adjusting their price targets downwards.
• Traeger's current market capitalization is approximately $190.64 million, with a consensus rating of "Hold" and a target price of $2.31.
• CEO Jeremy Andrus recently purchased 176,425 shares of the company at an average price of $1.46, increasing his ownership stake in Traeger.

Traeger (NYSE:COOK - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Other equities analysts have also recently issued research reports about the company. Telsey Advisory Group cut their price target on Traeger from $2.00 to $1.75 and set a "market perform" rating for the company in a report on Thursday, August 7th. Canaccord Genuity Group dropped their target price on 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 restated a "buy" rating and issued a $3.00 target price (down previously from $4.00) on shares of Traeger in a research note on Friday, May 2nd. Piper Sandler reduced their target price on Traeger from $2.50 to $2.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Finally, Royal Bank Of Canada cut their target price on Traeger from $1.50 to $1.25 and set a "sector perform" rating for the company in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $2.13.

Traeger Stock Performance

COOK stock traded down $0.01 during trading on Friday, reaching $1.38. The stock had a trading volume of 95,138 shares, compared to its average volume of 292,206. Traeger has a 52 week low of $1.28 and a 52 week high of $3.97. The stock's 50 day moving average is $1.78 and its two-hundred day moving average is $1.79. 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 firm has a market cap of $186.85 million, a PE ratio of -5.09 and a beta of 1.46.

Insider Buying and Selling

In related news, CEO Jeremy Andrus bought 300,762 shares of the firm's stock in a transaction on 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 purchase, the chief executive officer directly owned 13,805,554 shares of the company's stock, valued at approximately $18,499,442.36. This represents a 2.23% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have purchased 730,387 shares of company stock valued at $1,009,986. Company insiders own 14.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Graham Capital Management L.P. bought a new position in shares of Traeger during the 4th quarter worth about $37,000. Norden Group LLC raised its stake in shares of Traeger by 27.2% during the second quarter. Norden Group LLC now owns 23,350 shares of the company's stock worth $40,000 after buying an additional 5,000 shares during the last quarter. Two Sigma Advisers LP increased 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 valued at $77,000 after purchasing an additional 21,500 shares in the last quarter. Two Sigma Securities LLC bought a new stake in shares of Traeger during the fourth quarter worth $78,000. Finally, XTX Topco Ltd acquired a new position in Traeger during the second quarter worth $57,000. 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.