Utz Brands (NYSE:UTZ) Issues Quarterly Earnings Results

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

Utz Brands Stock Up 0.8 %

Utz Brands stock opened at $17.35 on Friday. Utz Brands has a 52 week low of $11.67 and a 52 week high of $20.04. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 578.33, a PEG ratio of 1.11 and a beta of 1.01. The company’s 50-day moving average price is $17.31 and its two-hundred day moving average price is $17.24. 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 Dividend Announcement

The business also recently announced a None dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were given a $0.011 dividend. The ex-dividend date was Monday, September 16th. This represents a yield of 1.3%. Utz Brands’s dividend payout ratio is presently 800.00%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on UTZ. Piper Sandler increased their price objective on shares of Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Friday. Needham & Company LLC restated a “buy” rating and set a $22.00 price objective on shares of Utz Brands in a research note on Friday, August 2nd. Finally, Barclays cut their target price on Utz Brands from $23.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, July 19th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Utz Brands has an average rating of “Moderate Buy” and an average target price of $21.10.

Insider Transactions at Utz Brands

In related news, Director Bruce John Lindeman acquired 4,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $16.11 per share, for a total transaction of $64,440.00. Following the completion of the purchase, the director now directly owns 42,480 shares of the company’s stock, valued at $684,352.80. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 17.00% of the company’s stock.

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.