Traeger (NYSE:COOK) Price Target Cut to $75.00 by Analysts at Canaccord Genuity Group

Traeger (NYSE:COOK) had its price target cut by Canaccord Genuity Group from $100.00 to $75.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 172.53% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. B. Riley Financial restated a “neutral” rating and set a $40.00 price target (down from $50.00) on shares of Traeger in a report on Friday, March 6th. Zacks Research raised shares of Traeger from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 3rd. Piper Sandler decreased their price target on shares of Traeger from $75.00 to $37.50 and set a “neutral” rating on the stock in a research note on Friday, March 6th. Wall Street Zen cut shares of 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $53.00.

Traeger Price Performance

COOK stock traded down $1.06 during mid-day trading on Wednesday, hitting $27.52. The company had a trading volume of 236 shares, compared to its average volume of 10,521. The company has a 50-day moving average price of $43.31 and a 200 day moving average price of $48.80. Traeger has a 12-month low of $24.15 and a 12-month high of $110.50. The company has a market capitalization of $75.40 million, a price-to-earnings ratio of -0.63 and a beta of 1.41. 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 (NYSE:COOK) last issued its quarterly earnings data on Friday, March 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.99). The firm had revenue of $145.36 million for the quarter, compared to analysts’ expectations of $135.05 million. Traeger had a negative net margin of 20.59% and a negative return on equity of 12.01%. On average, research analysts anticipate that Traeger will post -0.12 earnings per share for the current year.

Institutional Trading of Traeger

A number of hedge funds have recently added to or reduced their stakes in the business. Artisan Partners Limited Partnership purchased a new stake in shares of Traeger in the 3rd quarter worth approximately $1,220,000. GSA Capital Partners LLP boosted its position in shares of Traeger by 18.1% in the 3rd quarter. GSA Capital Partners LLP now owns 404,840 shares of the company’s stock worth $494,000 after purchasing an additional 62,074 shares in the last quarter. Drive Wealth Management LLC grew its stake in shares of Traeger by 107.4% during the third quarter. Drive Wealth Management LLC now owns 472,150 shares of the company’s stock worth $576,000 after acquiring an additional 244,493 shares during the last quarter. Williams & Novak LLC grew its position in Traeger by 46.3% during the 3rd quarter. Williams & Novak LLC now owns 81,300 shares of the company’s stock worth $99,000 after purchasing an additional 25,730 shares during the last quarter. Finally, Blair William & Co. IL increased its position in shares of Traeger by 19.9% in the 4th quarter. Blair William & Co. IL now owns 92,680 shares of the company’s stock valued at $100,000 after acquiring an additional 15,400 shares during the period. 46.84% of the stock is owned by hedge funds and other institutional investors.

Traeger Company Profile

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.