Barclays Lowers Utz Brands (NYSE:UTZ) Price Target to $17.00

Utz Brands (NYSE:UTZ) had its target price cut by equities researchers at Barclays from $19.00 to $17.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 19.93% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. TD Cowen dropped their price objective on Utz Brands from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Piper Sandler dropped their price target on Utz Brands from $24.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Mizuho reduced their price objective on shares of Utz Brands from $24.00 to $21.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Utz Brands currently has a consensus rating of “Moderate Buy” and an average price target of $20.20.

Utz Brands Stock Performance

NYSE UTZ traded up $0.26 on Friday, reaching $14.18. 270,817 shares of the stock were exchanged, compared to its average volume of 1,109,229. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. Utz Brands has a one year low of $13.36 and a one year high of $20.04. The firm has a market capitalization of $2.00 billion, a PE ratio of -74.61, a PEG ratio of 0.86 and a beta of 1.03. The company’s 50-day simple moving average is $16.15 and its two-hundred day simple moving average is $16.55.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.20 by $0.01. The firm had revenue of $365.50 million for the quarter, compared to the consensus estimate of $363.98 million. Utz Brands had a negative net margin of 0.99% and a positive return on equity of 7.25%. The company’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the firm earned $0.17 EPS. Analysts expect that Utz Brands will post 0.74 EPS for the current fiscal year.

Insider Activity at Utz Brands

In other news, EVP Cary Devore sold 30,000 shares of Utz Brands stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $17.32, for a total value of $519,600.00. Following the completion of the transaction, the executive vice president now owns 451,117 shares in the company, valued at approximately $7,813,346.44. The trade was a 6.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $17.29, for a total value of $48,678,335.16. Following the transaction, the insider now directly owns 496,038 shares in the company, valued at approximately $8,576,497.02. This represents a 85.02 % decrease in their position. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Utz Brands

Several hedge funds and other institutional investors have recently made changes to their positions in UTZ. State Street Corp grew its holdings in Utz Brands by 9.5% during the 3rd quarter. State Street Corp now owns 1,758,961 shares of the company’s stock valued at $31,256,000 after purchasing an additional 152,868 shares during the last quarter. Vestcor Inc boosted its position in shares of Utz Brands by 11.4% during the third quarter. Vestcor Inc now owns 296,100 shares of the company’s stock valued at $5,241,000 after buying an additional 30,400 shares during the period. Geode Capital Management LLC grew its stake in shares of Utz Brands by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,548,231 shares of the company’s stock valued at $27,409,000 after buying an additional 47,320 shares during the last quarter. Kimelman & Baird LLC purchased a new stake in shares of Utz Brands in the second quarter worth approximately $907,000. Finally, Barclays PLC raised its holdings in shares of Utz Brands by 21.4% in the third quarter. Barclays PLC now owns 555,477 shares of the company’s stock worth $9,831,000 after buying an additional 97,767 shares during the period. Hedge funds and other institutional investors own 95.97% of the company’s stock.

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.