Analysts Set Utz Brands, Inc. (NYSE:UTZ) PT at $18.42

Utz Brands, Inc. (NYSE:UTZ) has received an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $18.42.

Several research analysts have recently weighed in on the stock. DA Davidson assumed coverage on shares of Utz Brands in a research report on Friday, March 1st. They issued a “neutral” rating and a $20.00 target price on the stock. Mizuho assumed coverage on shares of Utz Brands in a research report on Wednesday, December 20th. They set a “buy” rating and a $19.00 price objective on the stock. Piper Sandler boosted their price objective on shares of Utz Brands from $18.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Needham & Company LLC boosted their price objective on shares of Utz Brands from $20.00 to $20.50 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, Bank of America raised shares of Utz Brands from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $19.00 to $22.00 in a research report on Thursday, March 14th.

Insiders Place Their Bets

In other news, major shareholder Chinh Chu sold 92,226 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $17.80, for a total value of $1,641,622.80. Following the completion of the sale, the insider now directly owns 3,556,154 shares in the company, valued at $63,299,541.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Chinh Chu sold 92,226 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $17.80, for a total value of $1,641,622.80. Following the completion of the sale, the insider now directly owns 3,556,154 shares in the company, valued at $63,299,541.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $17.40, for a total transaction of $7,764,750.00. Following the completion of the sale, the insider now owns 397,885 shares of the company’s stock, valued at $6,923,199. The disclosure for this sale can be found here. Insiders sold 609,181 shares of company stock valued at $10,754,925 over the last ninety days. Corporate insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On Utz Brands

Several large investors have recently bought and sold shares of UTZ. Point72 Middle East FZE acquired a new position in Utz Brands during the 4th quarter valued at $41,000. KB Financial Partners LLC acquired a new position in shares of Utz Brands in the 1st quarter valued at $50,000. SRS Capital Advisors Inc. raised its stake in shares of Utz Brands by 120.2% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,464 shares of the company’s stock valued at $56,000 after buying an additional 1,891 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Utz Brands by 104.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,683 shares of the company’s stock valued at $63,000 after buying an additional 2,397 shares in the last quarter. Finally, Delta Asset Management LLC TN raised its stake in shares of Utz Brands by 100.0% in the 4th quarter. Delta Asset Management LLC TN now owns 5,000 shares of the company’s stock valued at $81,000 after buying an additional 2,500 shares in the last quarter. 95.97% of the stock is currently owned by institutional investors and hedge funds.

Utz Brands Stock Performance

Utz Brands stock opened at $18.31 on Monday. The firm’s 50 day simple moving average is $18.03 and its 200-day simple moving average is $15.31. The company has a market cap of $2.58 billion, a P/E ratio of -59.06, a price-to-earnings-growth ratio of 1.64 and a beta of 0.96. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.42 and a quick ratio of 0.97. Utz Brands has a fifty-two week low of $11.17 and a fifty-two week high of $19.21.

Utz Brands (NYSE:UTZ) last released its earnings results on Thursday, February 29th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $352.10 million during the quarter, compared to analysts’ expectations of $354.63 million. Utz Brands had a positive return on equity of 6.08% and a negative net margin of 1.73%. The business’s revenue was down .7% on a year-over-year basis. During the same period last year, the business earned $0.15 earnings per share. As a group, equities research analysts predict that Utz Brands will post 0.67 EPS for the current year.

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.