On March 15, 2023, Piper Sandler downgraded their outlook for Traeger (NYSE:COOK) from Overweight to Neutral.
Analyst Price Forecast Suggests 15.39% Upside
As of March 15, 2023, the average one-year price target for Traeger is $4.35. The forecasts range from a low of $3.03 to a high of $6.30. The average price target represents an increase of 15.39% from its latest reported closing price of $3.77.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Traeger is $665MM, a decrease of 3.99%. The projected annual non-GAAP EPS is -$0.04.
What are Large Shareholders Doing?
Ontario Teachers Pension Plan Board holds 24,693K shares representing 20.14% ownership of the company. No change in the last quarter.
FCPVX - Fidelity Small Cap Value Fund holds 6,605K shares representing 5.39% ownership of the company. In it's prior filing, the firm reported owning 5,255K shares, representing an increase of 20.44%. The firm increased its portfolio allocation in COOK by 80.05% over the last quarter.
SMCWX - SMALLCAP WORLD FUND INC holds 6,195K shares representing 5.05% ownership of the company. In it's prior filing, the firm reported owning 5,053K shares, representing an increase of 18.44%. The firm increased its portfolio allocation in COOK by 14.59% over the last quarter.
Capital World Investors holds 6,195K shares representing 5.05% ownership of the company. In it's prior filing, the firm reported owning 5,224K shares, representing an increase of 15.67%. The firm increased its portfolio allocation in COOK by 12.59% over the last quarter.
Nuveen Asset Management holds 1,858K shares representing 1.51% ownership of the company. In it's prior filing, the firm reported owning 1,944K shares, representing a decrease of 4.64%. The firm decreased its portfolio allocation in COOK by 8.56% over the last quarter.
What is the Fund Sentiment?
There are 207 funds or institutions reporting positions in Traeger. This is a decrease of 2 owner(s) or 0.96% in the last quarter. Average portfolio weight of all funds dedicated to COOK is 0.02%, an increase of 20.11%. Total shares owned by institutions increased in the last three months by 1.34% to 61,714K shares. The put/call ratio of COOK is 0.20, indicating a bullish outlook.
Traeger Background Information
(This description is provided by the company.)
Traeger Grills, headquartered in Salt Lake City, is the creator and category leader of the wood pellet grill, a versatile and easy to use outdoor cooking system. Traeger pellet grills use all-natural hardwood fuel to infuse food with flavorful smoke, making food taste delicious and most of all, memorable. Traeger pellet grills utilize wood-fired convection power to provide 6-in-1 versatility; owners can grill, smoke, bake, roast, braise and barbecue meals on one cooking system.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
