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

Traeger (NYSE:COOK - Get Free Report) had its price objective lowered by equities researchers at Piper Sandler from $2.50 to $2.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Piper Sandler's price objective would suggest a potential upside of 42.35% from the stock's current price.

Several other equities analysts have also weighed in on COOK. Telsey Advisory Group dropped their price objective on shares of Traeger from $2.50 to $2.00 and set a "market perform" rating on the stock in a research report on Friday. Robert W. Baird lowered their price target on shares of Traeger from $3.50 to $2.50 and set a "neutral" rating on the stock in a report on Friday, March 7th. Royal Bank of Canada cut their price objective on shares of Traeger from $2.75 to $2.00 and set a "sector perform" rating for the company in a research report on Friday, March 7th. UBS Group set a $2.50 target price on Traeger in a research report on Friday, March 7th. Finally, Morgan Stanley dropped their price target on Traeger from $3.00 to $2.50 and set an "underweight" rating for the company in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Traeger currently has an average rating of "Hold" and a consensus price target of $2.36.

Traeger Stock Performance

Shares of COOK stock traded down $0.08 on Friday, reaching $1.41. The stock had a trading volume of 222,582 shares, compared to its average volume of 209,376. Traeger has a 12 month low of $1.32 and a 12 month high of $3.97. The firm has a market capitalization of $183.56 million, a price-to-earnings ratio of -3.51 and a beta of 1.42. The firm's 50-day moving average is $1.71 and its two-hundred day moving average is $2.40. The company has a quick ratio of 1.08, a current ratio of 2.09 and a debt-to-equity ratio of 1.42.

Traeger (NYSE:COOK - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.03). Traeger had a negative net margin of 8.53% and a negative return on equity of 10.57%. The business had revenue of $143.28 million during the quarter, compared to the consensus estimate of $140.63 million. On average, research analysts expect that Traeger will post -0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Traeger

A number of hedge funds have recently added to or reduced their stakes in COOK. Geode Capital Management LLC lifted its position in shares of Traeger by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,081,364 shares of the company's stock valued at $2,585,000 after acquiring an additional 4,445 shares during the period. Bridgeway Capital Management LLC raised its stake in Traeger by 1.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 650,725 shares of the company's stock valued at $1,555,000 after purchasing an additional 7,662 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Traeger by 84.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 475,411 shares of the company's stock worth $1,136,000 after purchasing an additional 217,771 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Traeger by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 446,943 shares of the company's stock worth $1,068,000 after buying an additional 4,246 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Traeger by 1.1% during the fourth quarter. Millennium Management LLC now owns 407,265 shares of the company's stock worth $973,000 after buying an additional 4,433 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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