Traeger (NYSE:COOK – Get Rating) was downgraded by research analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research note issued to investors on Wednesday, The Fly reports. They presently have a $4.00 price objective on the stock, down from their previous price objective of $6.00. Piper Sandler’s target price would indicate a potential upside of 6.10% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on the stock. Royal Bank of Canada downgraded shares of Traeger from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $4.00 to $3.00 in a research note on Tuesday, January 3rd. Canaccord Genuity Group initiated coverage on shares of Traeger in a research report on Wednesday, November 16th. They set a “buy” rating and a $6.00 target price on the stock. Credit Suisse Group dropped their price target on shares of Traeger to $3.15 in a research report on Tuesday, November 15th. William Blair reaffirmed a “market perform” rating on shares of Traeger in a report on Friday, December 16th. Finally, Canaccord Genuity Group began coverage on Traeger in a research note on Thursday, November 17th. They issued a “buy” rating and a $6.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.01.
Traeger Price Performance
Shares of NYSE:COOK opened at $3.77 on Wednesday. The firm has a market capitalization of $445.76 million, a PE ratio of -1.17 and a beta of 0.74. The company has a current ratio of 2.13, a quick ratio of 0.66 and a debt-to-equity ratio of 1.19. Traeger has a 1-year low of $2.48 and a 1-year high of $9.91. The business’s 50 day moving average is $3.56 and its 200-day moving average is $3.33.
Institutional Investors Weigh In On Traeger
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Moneta Group Investment Advisors LLC lifted its position in Traeger by 33.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 139,892 shares of the company’s stock worth $394,000 after buying an additional 35,282 shares in the last quarter. Alliancebernstein L.P. bought a new position in shares of Traeger in the fourth quarter worth about $40,000. Financial Advocates Investment Management acquired a new position in shares of Traeger during the fourth quarter worth approximately $34,000. State of Wisconsin Investment Board lifted its position in shares of Traeger by 32.2% during the fourth quarter. State of Wisconsin Investment Board now owns 340,271 shares of the company’s stock worth $960,000 after purchasing an additional 82,953 shares in the last quarter. Finally, Man Group plc bought a new stake in shares of Traeger during the fourth quarter valued at approximately $415,000. 45.16% of the stock is owned by institutional investors and hedge funds.
Traeger Company Profile
Traeger, Inc, together with its subsidiaries, designs, sources, sells, and supports wood pellet fueled barbeque 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.