Traeger (NYSE:COOK) Given New $2.75 Price Target at Royal Bank of Canada

Traeger (NYSE:COOK) had its price objective increased by analysts at Royal Bank of Canada from $2.50 to $2.75 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target indicates a potential downside of 16.67% from the stock’s previous close.

COOK has been the subject of several other reports. Robert W. Baird boosted their target price on Traeger from $2.50 to $3.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Piper Sandler boosted their price objective on shares of Traeger from $3.50 to $3.75 and gave the company a “neutral” rating in a report on Thursday. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $4.00 target price on shares of Traeger in a research note on Thursday. Finally, Canaccord Genuity Group lifted their price target on shares of Traeger from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $3.83.

Traeger Trading Up 4.1 %

COOK stock traded up $0.13 during midday trading on Thursday, reaching $3.30. The company’s stock had a trading volume of 177,652 shares, compared to its average volume of 267,647. The business’s 50-day simple moving average is $3.39 and its 200-day simple moving average is $2.79. The company has a quick ratio of 1.21, a current ratio of 2.04 and a debt-to-equity ratio of 1.34. Traeger has a 52 week low of $1.97 and a 52 week high of $3.97. The stock has a market cap of $427.25 million, a PE ratio of -8.00 and a beta of 1.25.

Traeger (NYSE:COOK) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $168.47 million during the quarter, compared to analysts’ expectations of $168.07 million. Traeger had a negative return on equity of 12.65% and a negative net margin of 8.50%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.23) earnings per share. As a group, sell-side analysts expect that Traeger will post -0.12 EPS for the current year.

Hedge Funds Weigh In On Traeger

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of Traeger in the first quarter valued at about $27,000. AQR Capital Management LLC acquired a new stake in shares of Traeger in the second quarter valued at approximately $52,000. Norden Group LLC bought a new stake in shares of Traeger in the first quarter worth $59,000. Squarepoint Ops LLC grew its position in Traeger by 712.1% in the second quarter. Squarepoint Ops LLC now owns 85,713 shares of the company’s stock valued at $206,000 after purchasing an additional 75,159 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in Traeger by 398.0% in the 1st quarter. Empowered Funds LLC now owns 128,493 shares of the company’s stock valued at $325,000 after buying an additional 102,689 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.