Traeger (NYSE:COOK) Price Target Raised to $7.00

Traeger (NYSE:COOK - Get Free Report) had its price objective increased by analysts at Canaccord Genuity Group from $6.00 to $7.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's target price would indicate a potential upside of 112.12% from the company's current price.

Other analysts have also issued research reports about the company. Piper Sandler lifted their target price on Traeger from $3.50 to $3.75 and gave the stock a "neutral" rating in a report on Thursday. Telsey Advisory Group reissued an "outperform" rating and issued a $4.00 target price on shares of Traeger in a research report on Thursday. Royal Bank of Canada upped their target price on shares of Traeger from $2.00 to $2.50 and gave the company a "sector perform" rating in a research note on Thursday, August 8th. Finally, Robert W. Baird lifted their price target 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. 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's stock. According to MarketBeat, Traeger currently has an average rating of "Hold" and a consensus price target of $3.83.

Traeger Stock Up 4.1 %

NYSE COOK traded up $0.13 during trading hours on Thursday, reaching $3.30. 177,652 shares of the company's stock traded hands, compared to its average volume of 267,647. Traeger has a 52-week low of $1.97 and a 52-week high of $3.97. 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 firm has a 50-day simple moving average of $3.39 and a 200 day simple moving average of $2.79. The firm has a market cap of $427.25 million, a PE ratio of -8.00 and a beta of 1.25.

Traeger (NYSE:COOK - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. The firm had revenue of $168.47 million during 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 quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.23) EPS. Sell-side analysts anticipate that Traeger will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in COOK. SG Americas Securities LLC bought a new stake in shares of Traeger during the 1st quarter valued at $27,000. AQR Capital Management LLC purchased a new position in Traeger during the second quarter valued at $52,000. Norden Group LLC bought a new stake in Traeger during the first quarter valued at about $59,000. Squarepoint Ops LLC increased its position in Traeger by 712.1% in the second quarter. Squarepoint Ops LLC now owns 85,713 shares of the company's stock worth $206,000 after buying an additional 75,159 shares in the last quarter. Finally, Empowered Funds LLC increased its position in Traeger by 398.0% in 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 in 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.

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