Traeger, Inc. (NYSE:COOK) Given Consensus Rating of “Hold” by Brokerages

Shares of Traeger, Inc. (NYSE:COOK) have received a consensus recommendation of “Hold” from the seven brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $2.44.

Several brokerages have recently weighed in on COOK. Telsey Advisory Group reduced their target price on shares of Traeger from $2.50 to $2.00 and set a “market perform” rating on the stock in a research note on Friday, May 2nd. Canaccord Genuity Group reduced their target price on shares of Traeger from $5.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Piper Sandler reduced their target price on shares of Traeger from $2.50 to $2.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Robert W. Baird reduced their target price on shares of Traeger from $3.50 to $2.50 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Finally, Morgan Stanley reduced their target price on shares of Traeger from $3.00 to $2.50 and set an “underweight” rating on the stock in a research note on Friday, March 7th.

Insider Transactions at Traeger

In related news, CEO Jeremy Andrus purchased 176,425 shares of the business’s stock in a transaction dated Friday, June 6th. The shares were purchased at an average cost of $1.46 per share, for a total transaction of $257,580.50. Following the completion of the acquisition, the chief executive officer now owns 14,228,779 shares in the company, valued at approximately $20,774,017.34. This trade represents a 1.26% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have purchased 730,387 shares of company stock worth $1,009,986. Insiders own 14.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in Traeger by 0.4% during the 4th 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. Bridgeway Capital Management LLC grew its holdings in Traeger by 1.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 650,725 shares of the company’s stock worth $1,555,000 after acquiring an additional 7,662 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Traeger by 84.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 475,411 shares of the company’s stock worth $1,136,000 after acquiring an additional 217,771 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Traeger by 1.0% during the 4th 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 in the last quarter. Finally, Millennium Management LLC grew its holdings in Traeger by 1.1% during the 4th quarter. Millennium Management LLC now owns 407,265 shares of the company’s stock worth $973,000 after acquiring an additional 4,433 shares in the last quarter. 46.84% of the stock is currently owned by institutional investors.

Traeger Trading Down 3.5%

Shares of COOK opened at $1.81 on Friday. Traeger has a twelve month low of $1.28 and a twelve month high of $3.97. The company has a market cap of $244.92 million, a P/E ratio of -7.85 and a beta of 1.38. The company has a current ratio of 2.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.43. The company’s fifty day simple moving average is $1.52 and its 200-day simple moving average is $2.00.

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.