Utz Brands (NYSE:UTZ) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Utz Brands (NYSE:UTZ) released its quarterly earnings results on Thursday. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01, Briefing.com reports. The business had revenue of $365.50 million during the quarter, compared to analyst estimates of $363.98 million. Utz Brands had a return on equity of 6.79% and a net margin of 0.29%. Utz Brands’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.17 EPS.

Utz Brands Price Performance

Shares of UTZ stock traded up $0.13 during trading hours on Friday, reaching $17.35. The stock had a trading volume of 1,093,151 shares, compared to its average volume of 759,776. The stock’s fifty day simple moving average is $17.30 and its 200 day simple moving average is $17.24. The firm has a market capitalization of $2.44 billion, a PE ratio of 578.33, a PEG ratio of 1.11 and a beta of 1.01. Utz Brands has a 12 month low of $11.67 and a 12 month high of $20.04. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.57.

Utz Brands Announces Dividend

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

Insider Buying and Selling

In other Utz Brands news, Director Bruce John Lindeman acquired 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $16.11 per share, with a total value of $64,440.00. Following the completion of the purchase, the director now owns 42,480 shares of the company’s stock, valued at approximately $684,352.80. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 17.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on UTZ. Barclays cut their price objective on Utz Brands from $23.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, July 19th. Piper Sandler raised their price target on shares of Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $22.00 price objective on shares of Utz Brands in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.