Utz Brands (NYSE:UTZ) Releases Earnings Results

Utz Brands (NYSE:UTZ) issued its earnings results on Thursday. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01, Briefing.com reports. Utz Brands had a return on equity of 6.79% and a net margin of 0.29%. The company had revenue of $365.50 million during the quarter, compared to the consensus estimate of $363.98 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. The company’s revenue was down 1.7% compared to the same quarter last year.

Utz Brands Stock Performance

Shares of UTZ traded up $0.13 during mid-day trading on Friday, hitting $17.35. The stock had a trading volume of 1,093,157 shares, compared to its average volume of 759,776. Utz Brands has a fifty-two week low of $11.67 and a fifty-two week high of $20.04. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.57. The company has a market cap of $2.44 billion, a PE ratio of 578.33, a PEG ratio of 1.11 and a beta of 1.01. The company’s fifty day simple moving average is $17.30 and its two-hundred day simple moving average is $17.24.

Utz Brands Announces Dividend

The company also recently disclosed a None dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were paid a dividend of $0.011 per share. This represents a yield of 1.3%. The ex-dividend date of this dividend was Monday, September 16th. Utz Brands’s payout ratio is currently 800.00%.

Insider Activity at Utz Brands

In related news, Director Bruce John Lindeman bought 4,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $16.11 per share, for a total transaction of $64,440.00. Following the completion of the purchase, the director now directly owns 42,480 shares in the company, valued at approximately $684,352.80. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 17.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Piper Sandler boosted their price target on Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday. Needham & Company LLC restated a “buy” rating and issued a $22.00 target price on shares of Utz Brands in a research note on Friday, August 2nd. Finally, Barclays dropped their price target on shares of Utz Brands from $23.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.10.

About Utz Brands

Utz Brands, Inc engages in manufacture, marketing, and distribution of snack foods. It offers a range of salty snacks, including salty snacks, including potato chips, tortilla chips, pretzels, cheese snacks, pork skins, veggie snacks, pub/party mixes, tortilla chips, salsa and dips, ready-to-eat popcorn, and other snacks under the Utz, Zapp’s, ON THE BORDER, Golden Flake, Boulder Canyon, Hawaiian, TORTIYAHS!, etc.