Traeger (NYSE:COOK) Given New $2.50 Price Target at Piper Sandler

Traeger (NYSE:COOK - Get Free Report) had its price target dropped by research analysts at Piper Sandler from $3.75 to $2.50 in a research report issued on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Piper Sandler's target price points to a potential upside of 13.95% from the company's previous close.

A number of other analysts also recently commented on the company. Canaccord Genuity Group decreased their price target on Traeger from $7.00 to $5.00 and set a "buy" rating for the company in a research report on Friday. Telsey Advisory Group downgraded Traeger from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $4.00 to $2.50 in a research report on Friday. Royal Bank of Canada increased their price target on Traeger from $2.50 to $2.75 and gave the company a "sector perform" rating in a research report on Thursday, November 7th. Finally, Robert W. Baird decreased their price target on Traeger from $3.50 to $2.50 and set a "neutral" rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $2.83.

Traeger Stock Performance

Shares of COOK traded up $0.03 on Friday, reaching $2.19. 605,040 shares of the company's stock traded hands, compared to its average volume of 149,644. The company has a current ratio of 2.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.42. The stock has a market cap of $286.54 million, a PE ratio of -5.48 and a beta of 1.32. The stock's 50 day simple moving average is $2.38 and its two-hundred day simple moving average is $2.94. Traeger has a 52-week low of $1.82 and a 52-week high of $3.97.

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Institutional Trading of Traeger

Large investors have recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. increased its position in Traeger by 724.3% in the third quarter. Jacobs Levy Equity Management Inc. now owns 258,058 shares of the company's stock worth $950,000 after buying an additional 226,750 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Traeger by 5.3% in the third 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 period. XTX Topco Ltd bought a new position in shares of Traeger in the third quarter worth $118,000. Barclays PLC boosted its holdings in shares of Traeger by 271.7% in the third quarter. Barclays PLC now owns 44,861 shares of the company's stock worth $166,000 after acquiring an additional 32,793 shares during the period. Finally, State Street Corp boosted its holdings in shares of Traeger by 2.4% in the third quarter. State Street Corp now owns 789,912 shares of the company's stock worth $2,907,000 after acquiring an additional 18,671 shares during the period. 46.84% of the stock is owned by hedge funds and other 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.