Traeger (NYSE:COOK) Price Target Lowered to $4.00 at Canaccord Genuity Group

Traeger (NYSE:COOKFree Report) had its target price lowered by Canaccord Genuity Group from $5.00 to $4.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also issued reports on COOK. Morgan Stanley dropped their price objective on Traeger from $3.00 to $2.80 and set an underweight rating on the stock in a report on Thursday, November 9th. Telsey Advisory Group reaffirmed an outperform rating and set a $4.50 price objective (down previously from $5.00) on shares of Traeger in a report on Monday, March 4th. Finally, B. Riley began coverage on Traeger in a report on Tuesday, December 12th. They set a buy rating and a $3.50 price objective on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $4.26.

Check Out Our Latest Stock Report on Traeger

Traeger Stock Performance

Shares of COOK stock opened at $2.04 on Wednesday. The stock’s 50-day moving average is $2.25 and its two-hundred day moving average is $2.72. The firm has a market cap of $256.65 million, a price-to-earnings ratio of -3.40 and a beta of 1.00. Traeger has a 1 year low of $2.00 and a 1 year high of $6.70. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.90 and a current ratio of 1.84.

Hedge Funds Weigh In On Traeger

Institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank increased its position in Traeger by 7.4% during the 1st quarter. Swiss National Bank now owns 69,500 shares of the company’s stock worth $517,000 after purchasing an additional 4,800 shares during the period. Bank of New York Mellon Corp lifted its stake in Traeger by 18.7% in the 1st quarter. Bank of New York Mellon Corp now owns 82,811 shares of the company’s stock valued at $616,000 after buying an additional 13,040 shares in the last quarter. MetLife Investment Management LLC lifted its stake in Traeger by 134.1% in the 1st quarter. MetLife Investment Management LLC now owns 20,784 shares of the company’s stock valued at $155,000 after buying an additional 11,905 shares in the last quarter. Rhumbline Advisers raised its holdings in Traeger by 39.1% in the 1st quarter. Rhumbline Advisers now owns 31,234 shares of the company’s stock valued at $232,000 after acquiring an additional 8,773 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in Traeger by 17.2% in the 1st quarter. BlackRock Inc. now owns 1,774,890 shares of the company’s stock valued at $13,204,000 after acquiring an additional 260,933 shares during the last quarter. Institutional investors and hedge funds own 42.28% of the company’s stock.

About Traeger

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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.

Further Reading

Analyst Recommendations for Traeger (NYSE:COOK)

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