Analysts Set Utz Brands, Inc. (NYSE:UTZ) PT at $20.36

Shares of Utz Brands, Inc. (NYSE:UTZ) have earned an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $20.36.

UTZ has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Utz Brands in a research note on Friday, August 2nd. Barclays decreased their price target 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. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $22.00 price target on shares of Utz Brands in a report on Wednesday, August 21st.

Insider Buying and Selling at Utz Brands

In other Utz Brands news, Director Bruce John Lindeman bought 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $16.11 per share, with a total value of $64,440.00. Following the completion of the acquisition, the director now directly owns 42,480 shares of the company’s stock, valued at $684,352.80. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 17.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Utz Brands

Hedge funds have recently added to or reduced their stakes in the business. Comerica Bank boosted its stake in Utz Brands by 5.4% in the 1st quarter. Comerica Bank now owns 16,491 shares of the company’s stock worth $304,000 after buying an additional 848 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Utz Brands by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 12,944 shares of the company’s stock worth $239,000 after purchasing an additional 1,017 shares during the period. Envestnet Portfolio Solutions Inc. raised its holdings in Utz Brands by 11.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,838 shares of the company’s stock valued at $197,000 after buying an additional 1,228 shares during the period. Diversified Trust Co raised its stake in shares of Utz Brands by 4.5% in the 2nd quarter. Diversified Trust Co now owns 44,870 shares of the company’s stock valued at $747,000 after acquiring an additional 1,925 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Utz Brands by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,879 shares of the company’s stock worth $1,068,000 after purchasing an additional 2,540 shares during the period. 95.97% of the stock is currently owned by hedge funds and other institutional investors.

Utz Brands Stock Up 0.9 %

NYSE:UTZ opened at $17.09 on Friday. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of -68.36, a price-to-earnings-growth ratio of 1.14 and a beta of 1.01. 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 has a twelve month low of $11.17 and a twelve month high of $20.04. The stock’s 50 day moving average price is $17.27 and its two-hundred day moving average price is $17.31.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. Utz Brands had a net margin of 0.29% and a return on equity of 6.79%. The business had revenue of $356.20 million for the quarter, compared to analysts’ expectations of $356.23 million. During the same period last year, the firm posted $0.13 earnings per share. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities research analysts expect that Utz Brands will post 0.74 earnings per share for the current fiscal year.

Utz Brands Dividend Announcement

The company also recently declared 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 was Monday, September 16th. This represents a dividend yield of 1.3%. Utz Brands’s payout ratio is -92.00%.

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.