Traeger (NYSE:COOK) Given New $2.50 Price Target at Royal Bank of Canada

Traeger (NYSE:COOK) had its target price upped by Royal Bank of Canada from $2.00 to $2.50 in a research report report published on Thursday morning, Benzinga reports. The firm currently has a sector perform rating on the stock.

Other research analysts also recently issued research reports about the company. Telsey Advisory Group reissued an outperform rating and issued a $4.00 price target on shares of Traeger in a report on Wednesday. Robert W. Baird increased their price target on Traeger from $2.50 to $3.00 and gave the company a neutral rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $3.30.

Traeger Trading Up 0.4 %

NYSE:COOK traded up $0.01 on Thursday, hitting $2.75. 344,769 shares of the stock were exchanged, compared to its average volume of 286,851. The stock has a market cap of $354.39 million, a PE ratio of -4.17 and a beta of 1.15. The company has a current ratio of 1.74, a quick ratio of 0.99 and a debt-to-equity ratio of 1.35. The stock has a fifty day moving average of $2.40 and a 200-day moving average of $2.30. Traeger has a fifty-two week low of $1.97 and a fifty-two week high of $5.91.

Traeger (NYSE:COOK) last issued its earnings results on Tuesday, August 6th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.02. Traeger had a negative return on equity of 22.43% and a negative net margin of 13.54%. The company had revenue of $168.47 million during the quarter, compared to the consensus estimate of $168.07 million. During the same quarter in the prior year, the business earned ($0.23) earnings per share. The company’s revenue was down 1.8% compared to the same quarter last year. As a group, equities analysts expect that Traeger will post -0.21 earnings per share for the current fiscal year.

Insider Transactions at Traeger

In other news, CEO Jeremy Andrus bought 165,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was bought at an average price of $2.17 per share, for a total transaction of $358,050.00. Following the transaction, the chief executive officer now owns 7,428,887 shares in the company, valued at $16,120,684.79. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.80% of the company’s stock.

Institutional Trading of Traeger

Several hedge funds have recently made changes to their positions in COOK. SG Americas Securities LLC bought a new stake in shares of Traeger in the 1st quarter worth approximately $27,000. Victory Capital Management Inc. bought a new stake in shares of Traeger in the 4th quarter worth approximately $28,000. Norden Group LLC bought a new stake in shares of Traeger in the 1st quarter worth approximately $59,000. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Traeger by 96.3% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 28,643 shares of the company’s stock worth $78,000 after purchasing an additional 14,054 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in Traeger by 398.0% during the 1st quarter. Empowered Funds LLC now owns 128,493 shares of the company’s stock valued at $325,000 after acquiring an additional 102,689 shares in the last quarter. Institutional investors own 46.84% of the company’s stock.

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.