Traeger (NYSE:COOK) Price Target Raised to $7.00 at Canaccord Genuity Group

Traeger (NYSE:COOK) had its price objective increased by Canaccord Genuity Group from $6.00 to $7.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the company. Piper Sandler raised their price objective on Traeger from $3.50 to $3.75 and gave the stock a “neutral” rating in a research note on Thursday. Royal Bank of Canada boosted their price target on Traeger from $2.00 to $2.50 and gave the stock a “sector perform” rating in a research report on Thursday, August 8th. Robert W. Baird raised their price objective on shares of Traeger from $2.50 to $3.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $4.00 price target on shares of Traeger in a research report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $3.83.

Traeger Trading Down 4.0 %

NYSE:COOK traded down $0.13 during trading hours on Thursday, reaching $3.14. 230,849 shares of the company were exchanged, compared to its average volume of 267,914. The firm has a market cap of $406.54 million, a price-to-earnings ratio of -7.98 and a beta of 1.25. The company has a debt-to-equity ratio of 1.34, a current ratio of 2.04 and a quick ratio of 1.21. The stock has a 50 day simple moving average of $3.38 and a 200 day simple moving average of $2.80. Traeger has a 52-week low of $1.97 and a 52-week high of $3.97.

Traeger (NYSE:COOK) last announced its earnings results on Tuesday, August 6th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.04 by $0.02. Traeger had a negative return on equity of 12.65% and a negative net margin of 8.50%. The business had revenue of $168.47 million for the quarter, compared to the consensus estimate of $168.07 million. During the same period last year, the business posted ($0.23) EPS. The company’s revenue was down 1.8% on a year-over-year basis. As a group, analysts predict that Traeger will post -0.12 EPS for the current year.

Institutional Trading of Traeger

A number of hedge funds and other institutional investors have recently made changes to their positions in COOK. Drive Wealth Management LLC acquired a new stake in shares of Traeger during the third quarter worth $118,000. Empowered Funds LLC grew its stake in Traeger by 5.3% in the third quarter. Empowered Funds LLC now owns 145,763 shares of the company’s stock valued at $536,000 after purchasing an additional 7,370 shares in the last quarter. Diversify Wealth Management LLC raised its holdings in shares of Traeger by 5.4% in the 3rd quarter. Diversify Wealth Management LLC now owns 164,547 shares of the company’s stock valued at $606,000 after purchasing an additional 8,499 shares during the period. SG Americas Securities LLC bought a new position in Traeger during the third quarter worth $51,000. Finally, AQR Capital Management LLC bought a new position in shares of Traeger during the second quarter worth approximately $52,000. 46.84% of the stock is currently 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.