Canaccord Genuity Group Lowers Traeger (NYSE:COOK) Price Target to $75.00

Traeger (NYSE:COOK) had its target price lowered by analysts at Canaccord Genuity Group from $100.00 to $75.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 172.53% from the company’s previous close.

A number of other brokerages have also recently commented on COOK. B. Riley Financial reaffirmed a “neutral” rating and set a $40.00 price objective (down from $50.00) on shares of Traeger in a research note on Friday, March 6th. Telsey Advisory Group decreased their target price on shares of Traeger from $75.00 to $50.00 and set a “market perform” rating for the company in a research note on Friday, March 6th. Piper Sandler lowered their price target on shares of Traeger from $75.00 to $37.50 and set a “neutral” rating on the stock in a report on Friday, March 6th. Wall Street Zen downgraded Traeger from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Traeger in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $53.00.

Traeger Stock Performance

Shares of COOK stock traded down $1.06 on Wednesday, hitting $27.52. The company had a trading volume of 236 shares, compared to its average volume of 10,521. The firm has a market cap of $75.40 million, a P/E ratio of -0.63 and a beta of 1.41. The company has a 50-day moving average price of $43.31 and a 200-day moving average price of $48.80. The company has a quick ratio of 1.45, a current ratio of 2.68 and a debt-to-equity ratio of 2.34. Traeger has a twelve month low of $24.15 and a twelve month high of $110.50.

Traeger (NYSE:COOK) last posted its earnings results on Friday, March 6th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.99). The company had revenue of $145.36 million for the quarter, compared to analyst estimates of $135.05 million. Traeger had a negative return on equity of 12.01% and a negative net margin of 20.59%. As a group, equities research analysts predict that Traeger will post -0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of COOK. Empowered Funds LLC boosted its holdings in Traeger by 9.2% during the 4th quarter. Empowered Funds LLC now owns 227,741 shares of the company’s stock valued at $246,000 after acquiring an additional 19,280 shares during the period. Artisan Partners Limited Partnership increased its position in shares of Traeger by 100.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 2,000,000 shares of the company’s stock valued at $2,160,000 after purchasing an additional 1,000,000 shares during the last quarter. Blair William & Co. IL increased its holdings in Traeger by 19.9% in the fourth quarter. Blair William & Co. IL now owns 92,680 shares of the company’s stock valued at $100,000 after buying an additional 15,400 shares during the last quarter. RFP Financial Group LLC purchased a new position in shares of Traeger in the 4th quarter valued at about $27,000. Finally, MYDA Advisors LLC acquired a new stake in Traeger during the fourth quarter worth approximately $173,000. 46.84% of the stock is currently owned by hedge funds and other institutional investors.

About Traeger

Traeger, trading on the NYSE under the ticker COOK, is a designer, manufacturer and marketer of wood pellet grills and outdoor cooking appliances. The company’s core product lineup features a range of hardwood-pellet grills that combine wood-fired flavor with digital temperature control. Beyond grills, Traeger offers a suite of accessories—such as grill covers, smoking woods, meat probes and recipe rubs—as well as outdoor kitchen solutions designed to serve both consumer and light-commercial segments.

Founded in 1985 by Joe Traeger, the brand pioneered the wood-pellet grilling category.