Utz Brands (NYSE:UTZ) Trading 8.4% Higher – Here’s Why

Utz Brands, Inc. (NYSE:UTZ)’s stock price shot up 8.4% during trading on Thursday . The company traded as high as $17.57 and last traded at $17.57. 253,495 shares were traded during mid-day trading, a decline of 66% from the average session volume of 753,674 shares. The stock had previously closed at $16.21.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Needham & Company LLC reissued 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 objective on Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, July 19th. Finally, Piper Sandler restated an “overweight” rating and issued a $22.00 target price on shares of Utz Brands in a report on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.90.

Utz Brands Stock Up 8.5 %

The firm has a market capitalization of $2.48 billion, a PE ratio of 585.33, a P/E/G ratio of 1.14 and a beta of 1.01. The stock has a 50-day simple moving average of $17.29 and a 200-day simple moving average of $17.24. 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 (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. The business had revenue of $356.20 million for the quarter, compared to analysts’ expectations of $356.23 million. Utz Brands had a return on equity of 6.79% and a net margin of 0.29%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 EPS. Analysts forecast that Utz Brands, Inc. will post 0.74 EPS for the current year.

Utz Brands Dividend Announcement

The firm also recently disclosed a None dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were issued a $0.011 dividend. This represents a yield of 1.3%. The ex-dividend date of this dividend was Monday, September 16th. Utz Brands’s dividend payout ratio (DPR) is presently 766.67%.

Insider Buying and Selling at Utz Brands

In related news, Director Bruce John Lindeman purchased 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, for a total transaction of $64,440.00. Following the completion of the transaction, the director now owns 42,480 shares in the company, valued at $684,352.80. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On Utz Brands

A number of institutional investors have recently added to or reduced their stakes in UTZ. Orion Portfolio Solutions LLC raised its stake in Utz Brands by 64.5% in the first quarter. Orion Portfolio Solutions LLC now owns 96,992 shares of the company’s stock valued at $1,789,000 after purchasing an additional 38,047 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Utz Brands by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 57,879 shares of the company’s stock valued at $1,068,000 after purchasing an additional 2,540 shares in the last quarter. Principal Financial Group Inc. bought a new stake in Utz Brands during the second quarter worth about $914,000. Kimelman & Baird LLC purchased a new position in shares of Utz Brands in the 2nd quarter worth about $907,000. Finally, Bahl & Gaynor Inc. increased its position in shares of Utz Brands by 45.1% during the 2nd quarter. Bahl & Gaynor Inc. now owns 239,961 shares of the company’s stock valued at $3,993,000 after purchasing an additional 74,633 shares during the last quarter. 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.