Traeger (NYSE:COOK) Price Target Raised to $2.75 at Royal Bank of Canada

Traeger (NYSE:COOK) had its target price lifted by equities research analysts at Royal Bank of Canada from $2.50 to $2.75 in a research report issued on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential downside of 16.67% from the company’s current price.

A number of other brokerages have also recently issued reports on COOK. Telsey Advisory Group restated an “outperform” rating and issued a $4.00 price objective on shares of Traeger in a research note on Thursday. Robert W. Baird increased their price target on shares of Traeger from $2.50 to $3.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Piper Sandler lifted their price objective on Traeger from $3.50 to $3.75 and gave the company a “neutral” rating in a report on Thursday. Finally, Canaccord Genuity Group increased their target price on Traeger from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $3.83.

Traeger Stock Performance

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

Traeger (NYSE:COOK) last announced its quarterly earnings data 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. The company had revenue of $168.47 million for the quarter, compared to analyst estimates of $168.07 million. Traeger had a negative return on equity of 12.65% and a negative net margin of 8.50%. Traeger’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.23) EPS. On average, sell-side analysts expect that Traeger will post -0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Traeger

Large investors have recently bought and sold shares of the business. Empowered Funds LLC grew its holdings in Traeger by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 145,763 shares of the company’s stock worth $536,000 after acquiring an additional 7,370 shares during the last quarter. Diversify Wealth Management LLC grew its stake in shares of Traeger by 5.4% during the third quarter. Diversify Wealth Management LLC now owns 164,547 shares of the company’s stock valued at $606,000 after purchasing an additional 8,499 shares during the last quarter. SG Americas Securities LLC bought a new position in Traeger in the 3rd quarter worth approximately $51,000. AQR Capital Management LLC acquired a new position in Traeger during the 2nd quarter worth $52,000. Finally, Squarepoint Ops LLC boosted its position in Traeger by 712.1% in the 2nd quarter. Squarepoint Ops LLC now owns 85,713 shares of the company’s stock valued at $206,000 after buying an additional 75,159 shares during the last quarter. 46.84% of the stock is currently owned by institutional investors.

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.