Traeger (NYSE:COOK) Price Target Raised to $7.00 at Canaccord Genuity Group

Traeger (NYSE:COOK) had its price target hoisted by Canaccord Genuity Group from $6.00 to $7.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also weighed in on COOK. Robert W. Baird raised their target price on shares of Traeger from $2.50 to $3.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Telsey Advisory Group reiterated an “outperform” rating and set a $4.00 price objective on shares of Traeger in a research report on Thursday. Royal Bank of Canada upped their target price on Traeger from $2.00 to $2.50 and gave the company a “sector perform” rating in a report on Thursday, August 8th. Finally, Piper Sandler raised their target price on Traeger from $3.50 to $3.75 and gave the stock a “neutral” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Traeger currently has a consensus rating of “Hold” and an average price target of $3.83.

Traeger Price Performance

NYSE COOK traded down $0.13 during mid-day trading on Thursday, hitting $3.14. The stock had a trading volume of 230,849 shares, compared to its average volume of 267,914. The firm’s 50 day moving average is $3.38 and its 200 day moving average is $2.80. The company has a debt-to-equity ratio of 1.34, a current ratio of 2.04 and a quick ratio of 1.21. The stock has a market capitalization of $406.54 million, a price-to-earnings ratio of -7.98 and a beta of 1.25. Traeger has a twelve month low of $1.97 and a twelve month high of $3.97.

Traeger (NYSE:COOK) last issued its earnings results on Tuesday, August 6th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $168.47 million during the quarter, compared to analysts’ expectations of $168.07 million. Traeger had a negative net margin of 8.50% and a negative return on equity of 12.65%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.23) earnings per share. Equities research analysts forecast that Traeger will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC increased its stake in shares of Traeger by 398.0% during the first quarter. Empowered Funds LLC now owns 128,493 shares of the company’s stock worth $325,000 after buying an additional 102,689 shares during the period. Norden Group LLC acquired a new stake in shares of Traeger during the first quarter worth about $59,000. AQR Capital Management LLC acquired a new position in shares of Traeger in the second quarter valued at approximately $52,000. Panagora Asset Management Inc. increased its stake in Traeger by 19.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 182,484 shares of the company’s stock valued at $438,000 after buying an additional 29,694 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Traeger during the first quarter worth about $27,000. Hedge funds and other 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.