Traeger (NYSE:COOK) Rating Lowered to Neutral at Piper Sandler

Piper Sandler lowered shares of Traeger (NYSE:COOK – Get Rating) from an overweight rating to a neutral rating in a report issued on Wednesday, MarketBeat.com reports. Piper Sandler currently has $4.00 target price on the stock, down from their previous target price of $6.00.

Other equities research analysts have also recently issued research reports about the stock. Canaccord Genuity Group started coverage on shares of Traeger in a research note on Wednesday, November 16th. They issued a buy rating and a $6.00 price target on the stock. William Blair reissued a market perform rating on shares of Traeger in a research note on Friday, December 16th. Royal Bank of Canada cut shares of Traeger from an outperform rating to a sector perform rating and dropped their price target for the company from $4.00 to $3.00 in a research note on Tuesday, January 3rd. Credit Suisse Group lowered their target price on shares of Traeger to $3.15 in a research note on Tuesday, November 15th. Finally, Canaccord Genuity Group initiated coverage on shares of Traeger in a research note on Thursday, November 17th. They set a buy rating and a $6.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $5.88.

Traeger Trading Up 21.6 %

Traeger stock opened at $3.66 on Wednesday. The company’s fifty day moving average price is $3.59 and its 200 day moving average price is $3.34. Traeger has a 1 year low of $2.48 and a 1 year high of $9.91. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.13 and a quick ratio of 0.66.

Hedge Funds Weigh In On Traeger

Institutional investors have recently bought and sold shares of the company. Moneta Group Investment Advisors LLC increased its holdings in shares of Traeger by 133,627.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 139,892,199 shares of the company’s stock worth $394,496,000 after buying an additional 139,787,589 shares during the last quarter. FMR LLC increased its holdings in shares of Traeger by 30.7% during the 2nd quarter. FMR LLC now owns 6,103,139 shares of the company’s stock worth $25,939,000 after buying an additional 1,435,066 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Traeger by 19.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,060,681 shares of the company’s stock worth $8,632,000 after buying an additional 498,380 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Traeger by 23.1% during the 3rd quarter. BlackRock Inc. now owns 2,714,493 shares of the company’s stock worth $7,654,000 after buying an additional 510,156 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Traeger by 615.6% during the 2nd quarter. Millennium Management LLC now owns 1,757,399 shares of the company’s stock worth $7,469,000 after buying an additional 1,511,821 shares during the last quarter. 45.16% of the stock is owned by hedge funds and other institutional investors.

About Traeger

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Traeger, Inc, together with its subsidiaries, designs, sources, sells, and supports wood pellet fueled barbeque 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.