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

Utz Brands (NYSE:UTZ) had its price target decreased by equities research analysts at Barclays from $19.00 to $17.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 19.18% from the company’s current price.

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

Utz Brands Trading Up 2.5 %

Shares of Utz Brands stock opened at $14.26 on Friday. Utz Brands has a 1-year low of $13.36 and a 1-year high of $20.04. The company’s fifty day simple moving average is $16.09 and its 200-day simple moving average is $16.53. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85. The stock has a market capitalization of $2.01 billion, a PE ratio of -75.07, a P/E/G ratio of 0.86 and a beta of 1.03.

Utz Brands (NYSE:UTZ) last released its earnings results on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. The company had revenue of $365.50 million for the quarter, compared to the consensus estimate of $363.98 million. During the same period in the previous year, the business earned $0.17 earnings per share. Utz Brands’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, equities analysts anticipate that Utz Brands will post 0.74 earnings per share for the current year.

Insider Activity at Utz Brands

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in UTZ. Canada Pension Plan Investment Board purchased a new stake in Utz Brands in the 2nd quarter valued at about $80,000. nVerses Capital LLC bought a new stake in shares of Utz Brands during the third quarter valued at approximately $142,000. Moody National Bank Trust Division purchased a new stake in shares of Utz Brands in the fourth quarter valued at approximately $169,000. XTX Topco Ltd bought a new position in Utz Brands in the second quarter worth approximately $185,000. Finally, MQS Management LLC purchased a new position in Utz Brands during the 2nd quarter worth $187,000. 95.97% of the stock is currently owned by institutional investors.

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.