Utz Brands (NYSE:UTZ) PT Raised to $23.00

Utz Brands (NYSE:UTZ) had its target price hoisted by Stephens from $21.00 to $23.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Stephens’ price objective would indicate a potential upside of 19.54% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Truist Financial increased their price objective on shares of Utz Brands from $13.00 to $17.00 and gave the company a “hold” rating in a report on Monday, March 4th. Needham & Company LLC raised their price target on Utz Brands from $20.50 to $22.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada upped their price objective on Utz Brands from $19.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday. Mizuho raised their target price on shares of Utz Brands from $22.00 to $24.00 and gave the company a “buy” rating in a report on Friday. Finally, Bank of America raised shares of Utz Brands from a “neutral” rating to a “buy” rating and upped their price target for the company from $19.00 to $22.00 in a research note on Thursday, March 14th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.83.

Utz Brands Stock Performance

NYSE UTZ opened at $19.24 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.42 and a debt-to-equity ratio of 0.65. Utz Brands has a twelve month low of $11.17 and a twelve month high of $20.04. The business has a 50-day moving average price of $18.01 and a 200-day moving average price of $16.16. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of -76.96, a price-to-earnings-growth ratio of 1.72 and a beta of 0.97.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. The business had revenue of $346.50 million during the quarter, compared to the consensus estimate of $346.99 million. Utz Brands had a positive return on equity of 6.13% and a negative net margin of 1.38%. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 EPS. As a group, equities research analysts predict that Utz Brands will post 0.69 EPS for the current fiscal year.

Insider Activity at Utz Brands

In other Utz Brands news, Director Roger K. Deromedi sold 13,446 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $19.03, for a total value of $255,877.38. Following the completion of the sale, the director now owns 3,548,704 shares of the company’s stock, valued at $67,531,837.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, 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 shares were 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 directly owns 397,885 shares of the company’s stock, valued at $6,923,199. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roger K. Deromedi sold 13,446 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $19.03, for a total transaction of $255,877.38. Following the completion of the transaction, the director now directly owns 3,548,704 shares in the company, valued at approximately $67,531,837.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 609,181 shares of company stock worth $10,754,925. Insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On Utz Brands

Institutional investors have recently modified their holdings of the stock. SRS Capital Advisors Inc. grew its stake in Utz Brands by 120.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,464 shares of the company’s stock worth $56,000 after purchasing an additional 1,891 shares in the last quarter. Delta Asset Management LLC TN increased its stake in shares of Utz Brands by 100.0% during the fourth 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 during the period. International Assets Investment Management LLC raised its holdings in shares of Utz Brands by 1,428.8% in the fourth quarter. International Assets Investment Management LLC now owns 5,473 shares of the company’s stock valued at $89,000 after acquiring an additional 5,115 shares in the last quarter. Parallel Advisors LLC lifted its stake in Utz Brands by 11.6% in the fourth quarter. Parallel Advisors LLC now owns 9,924 shares of the company’s stock worth $161,000 after acquiring an additional 1,033 shares during the period. Finally, Sherbrooke Park Advisers LLC bought a new position in Utz Brands during the 3rd quarter worth about $136,000. 95.97% of the stock is owned by hedge funds and other 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.