Traeger (NYSE:COOK) Price Target Raised to $3.75 at Piper Sandler

Traeger (NYSE:COOK - Get Free Report) had its price target increased by stock analysts at Piper Sandler from $3.50 to $3.75 in a report released on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Piper Sandler's target price indicates a potential upside of 14.68% from the company's current price.

A number of other research analysts have also recently issued reports on the company. Royal Bank of Canada lifted their price target on Traeger from $2.00 to $2.50 and gave the company a "sector perform" rating in a report on Thursday, August 8th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $4.00 price target on shares of Traeger in a report on Thursday. Finally, Robert W. Baird lifted their price target on Traeger from $2.50 to $3.00 and gave the company a "neutral" rating in a report on Wednesday, August 7th. One research 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, the company currently has a consensus rating of "Hold" and a consensus price target of $3.83.

Traeger Price Performance

Shares of NYSE COOK traded up $0.10 during midday trading on Thursday, reaching $3.27. 272,443 shares of the company traded hands, compared to its average volume of 268,086. The firm has a market cap of $423.37 million, a PE ratio of -8.00 and a beta of 1.25. The stock's 50-day simple moving average is $3.39 and its 200-day simple moving average is $2.79. Traeger has a 12 month low of $1.97 and a 12 month high of $3.97. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.21 and a current ratio of 2.04.

Traeger (NYSE:COOK - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.02. Traeger had a negative return on equity of 12.65% and a negative net margin of 8.50%. The business had revenue of $168.47 million during the quarter, compared to analysts' expectations of $168.07 million. During the same period in the previous year, the business posted ($0.23) earnings per share. The firm's revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, equities analysts anticipate that Traeger will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of Traeger

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC grew its position in shares of Traeger by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 145,763 shares of the company's stock valued at $536,000 after purchasing an additional 7,370 shares during the period. Diversify Wealth Management LLC raised its stake in shares of Traeger by 5.4% during the 3rd quarter. Diversify Wealth Management LLC now owns 164,547 shares of the company's stock worth $606,000 after purchasing an additional 8,499 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Traeger during the 1st quarter worth approximately $27,000. AQR Capital Management LLC bought a new stake in shares of Traeger during the 2nd quarter worth approximately $52,000. Finally, Norden Group LLC bought a new stake in Traeger in the 1st quarter valued at $59,000. 46.84% of the stock is owned by institutional investors.

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.