Utz Brands, Inc. (NYSE:UTZ) Receives $20.36 Average Target Price from Analysts

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

Several research firms have recently weighed in on UTZ. Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price on shares of Utz Brands in a report 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 reiterated an “overweight” rating and issued a $22.00 price target on shares of Utz Brands in a research report on Wednesday, August 21st.

Utz Brands Price Performance

Shares of NYSE UTZ opened at $17.64 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.21 and a current ratio of 1.69. Utz Brands has a fifty-two week low of $11.50 and a fifty-two week high of $20.04. The stock’s 50-day simple moving average is $17.33 and its 200-day simple moving average is $17.30. The firm has a market capitalization of $2.48 billion, a PE ratio of -70.56, a price-to-earnings-growth ratio of 1.14 and a beta of 1.01.

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

Utz Brands Dividend Announcement

The company also recently declared a None dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were issued a dividend of $0.011 per share. The ex-dividend date was Monday, September 16th. This represents a yield of 1.3%. Utz Brands’s dividend payout ratio is currently -92.00%.

Insider Activity at Utz Brands

In other Utz Brands news, Director Bruce John Lindeman bought 4,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were bought at an average price of $16.11 per share, for a total transaction of $64,440.00. Following the transaction, the director now owns 42,480 shares of the company’s stock, valued at approximately $684,352.80. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 17.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of UTZ. Picton Mahoney Asset Management acquired a new stake in Utz Brands in the second quarter valued at $5,422,000. Victory Capital Management Inc. boosted its holdings in Utz Brands by 22.0% during the second quarter. Victory Capital Management Inc. now owns 1,238,425 shares of the company’s stock worth $20,607,000 after buying an additional 223,462 shares in the last quarter. Jennison Associates LLC grew its position in Utz Brands by 15.2% during the first quarter. Jennison Associates LLC now owns 1,331,581 shares of the company’s stock worth $24,554,000 after buying an additional 175,956 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in Utz Brands in the second quarter valued at about $1,981,000. Finally, Bahl & Gaynor Inc. lifted 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 acquiring an additional 74,633 shares during the period. Institutional investors and hedge funds own 95.97% 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.