Robert W. Baird Increases Traeger (NYSE:COOK) Price Target to $3.00

Traeger (NYSE:COOK) had its price target boosted by stock analysts at Robert W. Baird from $2.50 to $3.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 4.17% from the stock’s current price.

Separately, Telsey Advisory Group reissued an “outperform” rating and issued 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, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $3.46.

Traeger Trading Up 25.8 %

Traeger stock traded up $0.59 during mid-day trading on Wednesday, hitting $2.88. The company’s stock had a trading volume of 866,032 shares, compared to its average volume of 280,307. Traeger has a 1 year low of $1.97 and a 1 year high of $5.92. The company has a current ratio of 1.74, a quick ratio of 0.99 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $371.15 million, a PE ratio of -4.29 and a beta of 1.15. The stock’s fifty day moving average is $2.39 and its two-hundred day moving average is $2.29.

Traeger (NYSE:COOK) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.05) earnings per share (EPS) for the quarter. The business had revenue of $144.91 million for the quarter, compared to analyst estimates of $143.41 million. Traeger had a negative return on equity of 22.43% and a negative net margin of 13.54%. On average, analysts anticipate that Traeger will post -0.21 EPS for the current year.

Insider Activity at Traeger

In other Traeger news, CEO Jeremy Andrus purchased 165,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were bought at an average cost of $2.17 per share, for a total transaction of $358,050.00. Following the completion of the purchase, the chief executive officer now directly owns 7,428,887 shares of the company’s stock, valued at $16,120,684.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.80% of the stock is currently owned by company insiders.

Institutional Trading of Traeger

A number of large investors have recently modified their holdings of COOK. Capital World Investors increased its holdings in Traeger by 4.9% during 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. Norden Group LLC acquired a new position in shares of Traeger during the 1st quarter worth about $118,000. Empowered Funds LLC increased its holdings in shares of Traeger by 398.0% in the 1st quarter. Empowered Funds LLC now owns 128,493 shares of the company’s stock valued at $325,000 after acquiring an additional 102,689 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Traeger by 28.8% in the 4th quarter. Panagora Asset Management Inc. now owns 153,761 shares of the company’s stock valued at $420,000 after acquiring an additional 34,344 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its stake in Traeger by 96.3% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 28,643 shares of the company’s stock worth $78,000 after purchasing an additional 14,054 shares during the last quarter. 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.