Canaccord Genuity Group Lowers Traeger (NYSE:COOK) Price Target to $5.00

Traeger (NYSE:COOK - Get Free Report) had its price target decreased by analysts at Canaccord Genuity Group from $7.00 to $5.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's target price points to a potential upside of 127.89% from the company's current price.

A number of other brokerages have also weighed in on COOK. Piper Sandler boosted their target price on Traeger from $3.50 to $3.75 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Telsey Advisory Group lowered Traeger from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $4.00 to $2.50 in a research report on Friday. Finally, Royal Bank of Canada boosted their target price on Traeger from $2.50 to $2.75 and gave the stock a "sector perform" rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $2.83.

Traeger Stock Performance

NYSE:COOK traded up $0.03 during mid-day trading on Friday, reaching $2.19. The company's stock had a trading volume of 605,040 shares, compared to its average volume of 149,644. Traeger has a 12-month low of $1.82 and a 12-month high of $3.97. The firm's fifty day moving average price is $2.38 and its two-hundred day moving average price is $2.94. 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 P/E ratio of -5.48 and a beta of 1.32.

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Institutional Trading of Traeger

Several hedge funds have recently modified their holdings of COOK. Graham Capital Management L.P. purchased a new stake in shares of Traeger during the 4th quarter worth approximately $37,000. Quadrature Capital Ltd purchased a new stake in shares of Traeger during the 3rd quarter worth approximately $50,000. Public Employees Retirement System of Ohio raised its holdings in shares of Traeger by 70.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,883 shares of the company's stock worth $62,000 after acquiring an additional 7,006 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Traeger by 202.8% during the 4th quarter. Two Sigma Advisers LP now owns 32,100 shares of the company's stock valued at $77,000 after buying an additional 21,500 shares during the period. Finally, Two Sigma Securities LLC bought a new stake in Traeger in the fourth quarter worth $78,000. 46.84% of the stock is owned by hedge funds and other 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.