Brokerages Set Utz Brands, Inc. (NYSE:UTZ) Price Target at $20.36

Shares of Utz Brands, Inc. (NYSE:UTZ) have been given a consensus recommendation of “Moderate Buy” by the eleven analysts that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $20.36.

Several analysts have recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $22.00 price target on shares of Utz Brands in a research note on Wednesday, August 21st. Barclays decreased their target price 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, Needham & Company LLC restated a “buy” rating and issued a $22.00 price objective on shares of Utz Brands in a research note on Friday, August 2nd.

Insiders Place Their Bets

In other news, Director Bruce John Lindeman acquired 4,000 shares of Utz Brands stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $16.11 per share, with a total value of $64,440.00. Following the completion of the transaction, the director now directly owns 42,480 shares of the company’s stock, valued at $684,352.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 17.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of UTZ. Fifth Third Bancorp acquired a new stake in Utz Brands during the 2nd quarter worth approximately $44,000. Canada Pension Plan Investment Board acquired a new position in shares of Utz Brands in the second quarter valued at about $80,000. Delta Asset Management LLC TN increased its position in Utz Brands by 100.0% during the fourth quarter. Delta Asset Management LLC TN now owns 5,000 shares of the company’s stock worth $81,000 after acquiring an additional 2,500 shares during the period. SG Americas Securities LLC acquired a new stake in Utz Brands in the 2nd quarter worth about $103,000. Finally, Parallel Advisors LLC boosted its holdings in Utz Brands by 11.6% in the 4th quarter. Parallel Advisors LLC now owns 9,924 shares of the company’s stock valued at $161,000 after purchasing an additional 1,033 shares during the period. 95.97% of the stock is owned by institutional investors and hedge funds.

Utz Brands Stock Down 2.8 %

NYSE:UTZ opened at $17.64 on Monday. The business’s fifty day moving average price is $16.63 and its 200 day moving average price is $17.39. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of -70.56, a PEG ratio of 1.18 and a beta of 1.01. 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 has a 1-year low of $11.17 and a 1-year high of $20.04.

Utz Brands (NYSE:UTZ) last issued its earnings results 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. The company had revenue of $356.20 million during the quarter, compared to analyst estimates of $356.23 million. Utz Brands had a net margin of 0.29% and a return on equity of 6.79%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the business posted $0.13 EPS. On average, sell-side analysts forecast that Utz Brands will post 0.74 earnings per share for the current fiscal year.

Utz Brands Dividend Announcement

The business also recently announced a None dividend, which will be paid on Thursday, October 3rd. Investors of record on Monday, September 16th will be paid a $0.011 dividend. This represents a yield of 1.3%. The ex-dividend date of this dividend is Monday, September 16th. Utz Brands’s payout ratio is presently -92.00%.

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.