Traeger (NYSE:COOK) Trading Up 0.4% - What's Next?

Traeger, Inc. (NYSE:COOK - Get Free Report)'s stock price shot up 0.4% during trading on Friday . The company traded as high as $2.52 and last traded at $2.47. 63,684 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 133,909 shares. The stock had previously closed at $2.46.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group boosted their target price on shares of Traeger from $6.00 to $7.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Piper Sandler boosted their price objective on Traeger from $3.50 to $3.75 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Royal Bank of Canada raised their price objective on Traeger from $2.50 to $2.75 and gave the company a "sector perform" rating in a research note on Thursday, November 7th. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $4.00 target price on shares of Traeger in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Traeger presently has an average rating of "Hold" and a consensus target price of $4.10.

Traeger Price Performance

The company has a market cap of $322.58 million, a PE ratio of -6.17 and a beta of 1.32. The firm has a 50 day simple moving average of $2.51 and a 200-day simple moving average of $2.98. The company has a quick ratio of 1.08, a current ratio of 2.09 and a debt-to-equity ratio of 1.42.

Institutional Investors Weigh In On Traeger

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

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.