Traeger (NYSE:COOK) Trading Up 0.9% - Time to Buy?

Traeger, Inc. (NYSE:COOK - Get Free Report) shares were up 0.9% during mid-day trading on Friday . The stock traded as high as $1.72 and last traded at $1.70. Approximately 129,965 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 213,166 shares. The stock had previously closed at $1.68.

Analysts Set New Price Targets

COOK has been the subject of several analyst reports. Piper Sandler decreased their price target on shares of Traeger from $3.75 to $2.50 and set a "neutral" rating for the company in a research report on Friday, March 7th. Royal Bank of Canada lowered their target price on shares of Traeger from $2.75 to $2.00 and set a "sector perform" rating for the company in a research note on Friday, March 7th. Telsey Advisory Group downgraded Traeger from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $4.00 to $2.50 in a research report on Friday, March 7th. Robert W. Baird lowered their price objective on Traeger from $3.50 to $2.50 and set a "neutral" rating for the company in a research report on Friday, March 7th. Finally, UBS Group set a $2.50 target price on Traeger in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $2.79.

Traeger Stock Performance

The stock has a market capitalization of $220.80 million, a price-to-earnings ratio of -4.22 and a beta of 1.32. 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 firm has a 50-day moving average of $2.15 and a 200-day moving average of $2.71.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of COOK. American Century Companies Inc. boosted its position in Traeger by 8.3% in the fourth quarter. American Century Companies Inc. now owns 53,950 shares of the company's stock valued at $129,000 after buying an additional 4,153 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Traeger by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 446,943 shares of the company's stock worth $1,068,000 after acquiring an additional 4,246 shares during the period. Millennium Management LLC raised its holdings in shares of Traeger by 1.1% during the fourth quarter. Millennium Management LLC now owns 407,265 shares of the company's stock worth $973,000 after purchasing an additional 4,433 shares during the last quarter. Geode Capital Management LLC lifted its position in Traeger by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,081,364 shares of the company's stock valued at $2,585,000 after purchasing an additional 4,445 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its holdings in Traeger by 70.9% in the third quarter. Public Employees Retirement System of Ohio now owns 16,883 shares of the company's stock valued at $62,000 after purchasing an additional 7,006 shares during the last quarter. 46.84% of the stock is owned by institutional investors and hedge funds.

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.