Traeger (NYSE:COOK) Price Target Lowered to $2.50 at Morgan Stanley

Traeger (NYSE:COOK) had its price target decreased by Morgan Stanley from $3.00 to $2.50 in a report published on Friday,Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

Several other brokerages have also commented on COOK. Piper Sandler dropped their price target on shares of Traeger from $3.75 to $2.50 and set a “neutral” rating on the stock in a research note on Friday. Robert W. Baird decreased their price objective on shares of Traeger from $3.50 to $2.50 and set a “neutral” rating for the company in a report on Friday. Canaccord Genuity Group decreased their price objective on shares of Traeger from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday. Royal Bank of Canada decreased their price objective on shares of Traeger from $2.75 to $2.00 and set a “sector perform” rating for the company in a report on Friday. Finally, Telsey Advisory Group cut shares of Traeger from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $4.00 to $2.50 in a report on Friday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $2.83.

Traeger Price Performance

Shares of NYSE:COOK opened at $2.19 on Friday. The firm’s 50 day moving average is $2.39 and its two-hundred day moving average is $2.95. Traeger has a 52 week low of $1.82 and a 52 week high of $3.97. The firm has a market capitalization of $286.54 million, a P/E ratio of -5.48 and a beta of 1.32. The company has a current ratio of 2.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.42.

Institutional Trading of Traeger

A number of large investors have recently added to or reduced their stakes in COOK. Jacobs Levy Equity Management Inc. boosted its holdings in Traeger by 724.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 258,058 shares of the company’s stock worth $950,000 after buying an additional 226,750 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Traeger by 84.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 475,411 shares of the company’s stock worth $1,136,000 after buying an additional 217,771 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Traeger by 758.1% during the fourth quarter. JPMorgan Chase & Co. now owns 135,984 shares of the company’s stock worth $325,000 after buying an additional 120,136 shares in the last quarter. Bosun Asset Management LLC boosted its holdings in Traeger by 267.7% during 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 in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings 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 in the last quarter. 46.84% of the stock is currently owned by institutional investors.

Traeger Company Profile

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.