Royal Bank of Canada Increases Traeger (NYSE:COOK) Price Target to $2.50

Traeger (NYSE:COOK) had its price target hoisted by analysts at Royal Bank of Canada from $2.00 to $2.50 in a research report issued on Thursday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target indicates a potential downside of 9.09% from the stock’s current price.

COOK has been the topic of several other research reports. Robert W. Baird upped their price objective on Traeger from $2.50 to $3.00 and gave the company a “neutral” rating in a research note on Wednesday. Telsey Advisory Group reiterated an “outperform” rating and set a $4.00 price target on shares of Traeger in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.30.

Traeger Stock Up 0.4 %

NYSE:COOK traded up $0.01 during trading hours on Thursday, hitting $2.75. 344,798 shares of the company traded hands, compared to its average volume of 286,851. The company has a quick ratio of 0.99, a current ratio of 1.74 and a debt-to-equity ratio of 1.35. The company has a market cap of $354.39 million, a PE ratio of -4.17 and a beta of 1.15. The firm’s 50-day simple moving average is $2.40 and its 200-day simple moving average is $2.30. Traeger has a one year low of $1.97 and a one year high of $5.91.

Traeger (NYSE:COOK) last posted its earnings results on Tuesday, August 6th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.04 by $0.02. The firm had revenue of $168.47 million for the quarter, compared to analysts’ expectations of $168.07 million. Traeger had a negative net margin of 13.54% and a negative return on equity of 22.43%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.23) EPS. Equities analysts predict that Traeger will post -0.21 earnings per share for the current year.

Insider Activity

In other Traeger news, CEO Jeremy Andrus acquired 165,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was purchased at an average cost of $2.17 per share, for a total transaction of $358,050.00. Following the acquisition, the chief executive officer now owns 7,428,887 shares in the company, valued at approximately $16,120,684.79. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.80% of the company’s stock.

Institutional Investors Weigh In On Traeger

Several institutional investors have recently added to or reduced their stakes in the company. Glendon Capital Management LP raised its holdings in shares of Traeger by 223.8% during the fourth quarter. Glendon Capital Management LP now owns 1,165,546 shares of the company’s stock valued at $3,182,000 after acquiring an additional 805,546 shares in the last quarter. Capital World Investors lifted its position in shares of Traeger by 4.9% in the 4th quarter. Capital World Investors now owns 6,499,660 shares of the company’s stock worth $17,744,000 after purchasing an additional 304,660 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Traeger during the 2nd quarter valued at about $345,000. Empowered Funds LLC increased its position in shares of Traeger by 398.0% during the first quarter. Empowered Funds LLC now owns 128,493 shares of the company’s stock valued at $325,000 after buying an additional 102,689 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Traeger by 56.3% during the second quarter. Dimensional Fund Advisors LP now owns 201,562 shares of the company’s stock valued at $484,000 after buying an additional 72,637 shares during the period. 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.