Traeger (NYSE:COOK) Price Target Lowered to $2.50 at Piper Sandler

Traeger (NYSE:COOK) had its target price lowered by Piper Sandler from $3.75 to $2.50 in a research note published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research firms also recently weighed in on COOK. Telsey Advisory Group downgraded shares of Traeger from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $4.00 to $2.50 in a research note on Friday. Royal Bank of Canada raised their price target on shares of Traeger from $2.50 to $2.75 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Robert W. Baird reduced their price target on shares of Traeger from $3.50 to $2.50 and set a “neutral” rating on the stock in a research note on Friday. Finally, Canaccord Genuity Group reduced their price target on shares of Traeger from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Traeger has an average rating of “Hold” and a consensus target price of $2.83.

Traeger Trading Up 1.6 %

Shares of Traeger stock opened at $2.19 on Friday. The firm’s 50-day moving average price is $2.39 and its two-hundred day moving average price is $2.95. Traeger has a 12-month low of $1.82 and a 12-month high of $3.97. The company has a quick ratio of 1.08, a current ratio of 2.09 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $286.54 million, a price-to-earnings ratio of -5.48 and a beta of 1.32.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC raised its holdings in Traeger by 61.0% in the 4th quarter. Squarepoint Ops LLC now owns 120,003 shares of the company’s stock valued at $287,000 after buying an additional 45,469 shares during the last quarter. Two Sigma Advisers LP raised its holdings in Traeger by 202.8% in the 4th quarter. Two Sigma Advisers LP now owns 32,100 shares of the company’s stock valued at $77,000 after buying an additional 21,500 shares during the last quarter. Two Sigma Investments LP raised its holdings in Traeger by 32.7% in the 4th quarter. Two Sigma Investments LP now owns 123,931 shares of the company’s stock valued at $296,000 after buying an additional 30,539 shares during the last quarter. Millennium Management LLC raised its holdings in Traeger by 1.1% in the 4th quarter. Millennium Management LLC now owns 407,265 shares of the company’s stock valued at $973,000 after buying an additional 4,433 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Traeger by 19.3% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 307,882 shares of the company’s stock worth $736,000 after purchasing an additional 49,824 shares during the last quarter. Institutional investors own 46.84% of the company’s stock.

Traeger Company Profile

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.