Traeger (NYSE:COOK) Shares Up 0.9% – Still a Buy?

Traeger, Inc. (NYSE:COOK)’s share price rose 0.9% during trading on Friday . The stock traded as high as $1.72 and last traded at $1.70. Approximately 129,965 shares were traded 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.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on COOK. Morgan Stanley cut their target price on Traeger from $3.00 to $2.50 and set an “underweight” rating for the company in a research report on Friday, March 7th. Piper Sandler cut their price objective on shares of Traeger from $3.75 to $2.50 and set a “neutral” rating for the company in a report on Friday, March 7th. Robert W. Baird lowered their target price on shares of Traeger from $3.50 to $2.50 and set a “neutral” rating on the stock in a report on Friday, March 7th. Canaccord Genuity Group cut their target price on shares of Traeger from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Finally, Telsey Advisory Group cut shares of Traeger from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $4.00 to $2.50 in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $2.79.

Traeger Stock Up 0.9 %

The firm has a market cap of $221.45 million, a P/E ratio of -4.24 and a beta of 1.32. The company’s 50-day simple moving average is $2.20 and its 200 day simple moving average is $2.75. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.09 and a quick ratio of 1.08.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. raised its position in Traeger by 724.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 258,058 shares of the company’s stock valued at $950,000 after purchasing an additional 226,750 shares during the period. Dimensional Fund Advisors LP raised 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 valued at $1,136,000 after buying an additional 217,771 shares during the period. JPMorgan Chase & Co. raised its holdings in Traeger by 758.1% during the 4th quarter. JPMorgan Chase & Co. now owns 135,984 shares of the company’s stock valued at $325,000 after buying an additional 120,136 shares during the period. Bosun Asset Management LLC lifted its position in Traeger by 267.7% in the fourth quarter. Bosun Asset Management LLC now owns 95,235 shares of the company’s stock worth $228,000 after buying an additional 69,335 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in Traeger by 36.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 232,052 shares of the company’s stock worth $555,000 after buying an additional 61,923 shares during the period. Hedge funds and other institutional investors own 46.84% of the company’s stock.

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.