Traeger (NYSE:COOK) Price Target Lowered to $2.00 at Piper Sandler

Traeger (NYSE:COOK - Get Free Report) had its price objective dropped by stock analysts at Piper Sandler from $2.50 to $2.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Piper Sandler's price target would indicate a potential upside of 50.94% from the company's previous close.

A number of other research firms have also recently commented on COOK. Morgan Stanley decreased their target price on shares of Traeger from $3.00 to $2.50 and set an "underweight" rating for the company in a research report on Friday, March 7th. Canaccord Genuity Group lowered their price target on shares of Traeger from $5.00 to $3.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Telsey Advisory Group reduced their price objective on Traeger from $2.50 to $2.00 and set a "market perform" rating for the company in a research note on Friday, May 2nd. UBS Group set a $2.50 price target on Traeger in a research report on Friday, March 7th. Finally, Royal Bank of Canada dropped their price target on shares of Traeger from $2.75 to $2.00 and set a "sector perform" rating on the stock in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $2.44.

Traeger Stock Down 1.9 %

NYSE COOK traded down $0.03 during midday trading on Friday, hitting $1.33. 81,858 shares of the company traded hands, compared to its average volume of 211,906. The company has a market cap of $173.11 million, a PE ratio of -3.31 and a beta of 1.43. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.09 and a quick ratio of 1.08. Traeger has a 52 week low of $1.29 and a 52 week high of $3.97. The company's 50-day simple moving average is $1.66 and its 200-day simple moving average is $2.35.

Hedge Funds Weigh In On Traeger

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Graham Capital Management L.P. acquired a new position in Traeger in the 4th quarter valued at about $37,000. Two Sigma Advisers LP lifted its stake in shares of 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 acquiring an additional 21,500 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in shares of Traeger during the fourth quarter worth approximately $78,000. Bank of America Corp DE increased its holdings in shares of Traeger by 36.6% in the 4th quarter. Bank of America Corp DE now owns 33,314 shares of the company's stock valued at $80,000 after acquiring an additional 8,933 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in Traeger by 231.8% during the 4th quarter. Deutsche Bank AG now owns 41,344 shares of the company's stock worth $99,000 after buying an additional 28,883 shares during the last quarter. 46.84% of the stock is owned by institutional investors and hedge funds.

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.