Utz Brands, Inc. (NYSE:UTZ) Receives $20.42 Average Price Target from Analysts

Utz Brands, Inc. (NYSE:UTZ) has earned a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $20.42.

Several analysts have issued reports on the company. Bank of America upgraded Utz Brands from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $19.00 to $22.00 in a report on Thursday, March 14th. Stephens upped their price target on shares of Utz Brands from $21.00 to $23.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Royal Bank of Canada lifted their price objective on shares of Utz Brands from $19.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Mizuho increased their target price on Utz Brands from $22.00 to $24.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Needham & Company LLC lifted their price target on Utz Brands from $20.50 to $22.00 and gave the company a “buy” rating in a report on Friday, May 3rd.

Utz Brands Trading Down 6.1 %

Shares of NYSE:UTZ opened at $15.29 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.95 and a current ratio of 1.40. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of -61.16, a PEG ratio of 1.13 and a beta of 1.00. Utz Brands has a 1-year low of $11.17 and a 1-year high of $20.04. The company has a 50 day moving average price of $17.84 and a 200 day moving average price of $17.74.

Utz Brands (NYSE:UTZ) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. The business had revenue of $346.50 million during the quarter, compared to analyst estimates of $346.99 million. Utz Brands had a positive return on equity of 6.16% and a negative net margin of 1.38%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company posted $0.11 EPS. On average, research analysts anticipate that Utz Brands will post 0.72 EPS for the current fiscal year.

Utz Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Shareholders of record on Monday, June 17th were given a $0.059 dividend. This represents a $0.24 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Monday, June 17th. Utz Brands’s payout ratio is currently -96.00%.

Insider Activity

In related news, Director Christina Choi sold 3,160 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $17.98, for a total value of $56,816.80. Following the completion of the sale, the director now owns 29,740 shares of the company’s stock, valued at approximately $534,725.20. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Utz Brands news, Director Dylan Lissette sold 10,003 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $19.11, for a total value of $191,157.33. Following the completion of the sale, the director now owns 118,222 shares of the company’s stock, valued at $2,259,222.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christina Choi sold 3,160 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $17.98, for a total value of $56,816.80. Following the sale, the director now owns 29,740 shares of the company’s stock, valued at approximately $534,725.20. The disclosure for this sale can be found here. Insiders sold a total of 497,178 shares of company stock worth $9,387,927 in the last three months. 17.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Utz Brands

A number of large investors have recently added to or reduced their stakes in UTZ. HighTower Advisors LLC boosted its holdings in shares of Utz Brands by 15.6% during the 3rd quarter. HighTower Advisors LLC now owns 20,477 shares of the company’s stock worth $272,000 after buying an additional 2,757 shares during the period. Hsbc Holdings PLC increased its stake in shares of Utz Brands by 25.7% in the third quarter. Hsbc Holdings PLC now owns 15,184 shares of the company’s stock worth $203,000 after purchasing an additional 3,101 shares during the period. Stifel Financial Corp lifted its position in shares of Utz Brands by 14.8% during the 3rd quarter. Stifel Financial Corp now owns 137,448 shares of the company’s stock worth $1,846,000 after purchasing an additional 17,762 shares during the last quarter. Natixis Advisors L.P. boosted its stake in Utz Brands by 2.4% during the 3rd quarter. Natixis Advisors L.P. now owns 111,859 shares of the company’s stock valued at $1,502,000 after purchasing an additional 2,666 shares during the period. Finally, Alpine Global Management LLC acquired a new stake in Utz Brands in the 3rd quarter valued at approximately $698,000. 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.