Utz Brands, Inc. (NYSE:UTZ) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Utz Brands, Inc. (NYSE:UTZ) have been given a consensus recommendation of “Moderate Buy” by the ten analysts that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $20.80.

Several research analysts have recently commented on UTZ shares. Barclays reduced their target price on Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, July 19th. Piper Sandler lifted their target price on Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday. Mizuho reduced their price target on Utz Brands from $24.00 to $21.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Needham & Company LLC restated a “buy” rating and issued a $22.00 price target on shares of Utz Brands in a research note on Friday, August 2nd.

Insider Activity

In other news, EVP Cary Devore sold 30,000 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $17.32, for a total transaction of $519,600.00. Following the completion of the sale, the executive vice president now directly owns 451,117 shares in the company, valued at approximately $7,813,346.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On Utz Brands

A number of institutional investors have recently modified their holdings of UTZ. Picton Mahoney Asset Management acquired a new position in shares of Utz Brands during the 2nd quarter worth $5,422,000. Victory Capital Management Inc. increased its holdings in Utz Brands by 22.0% in the 2nd quarter. Victory Capital Management Inc. now owns 1,238,425 shares of the company’s stock worth $20,607,000 after purchasing an additional 223,462 shares in the last quarter. Jennison Associates LLC increased its holdings in Utz Brands by 15.2% in the 1st quarter. Jennison Associates LLC now owns 1,331,581 shares of the company’s stock worth $24,554,000 after purchasing an additional 175,956 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Utz Brands in the 2nd quarter worth about $1,981,000. Finally, Bahl & Gaynor Inc. increased its holdings in Utz Brands by 45.1% in the 2nd quarter. Bahl & Gaynor Inc. now owns 239,961 shares of the company’s stock worth $3,993,000 after purchasing an additional 74,633 shares in the last quarter. Institutional investors and hedge funds own 95.97% of the company’s stock.

Utz Brands Stock Down 0.1 %

NYSE:UTZ opened at $17.34 on Tuesday. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of -91.26, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01. Utz Brands has a twelve month low of $11.67 and a twelve month high of $20.04. The stock’s 50 day moving average price is $17.31 and its two-hundred day moving average price is $17.24. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.57.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. The firm had revenue of $365.50 million for the quarter, compared to analyst estimates of $363.98 million. Utz Brands had a positive return on equity of 7.24% and a negative net margin of 0.99%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 EPS. Equities research analysts expect that Utz Brands will post 0.74 earnings per share for the current fiscal year.

Utz Brands Announces Dividend

The business also recently announced a None dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were given a dividend of $0.011 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a dividend yield of 1.3%. Utz Brands’s payout ratio is -126.32%.

Utz Brands Company Profile

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.