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

Utz Brands (NYSE:UTZ) had its price objective hoisted by Barclays from $20.00 to $23.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 21.18% from the company’s current price.

UTZ has been the topic of several other research reports. Needham & Company LLC raised their price objective on shares of Utz Brands from $20.50 to $22.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Piper Sandler lifted their target price on Utz Brands from $18.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Bank of America raised 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 report on Thursday, March 14th. Royal Bank of Canada upped their target price on Utz Brands from $19.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, Mizuho boosted their price target on shares of Utz Brands from $22.00 to $24.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Utz Brands currently has a consensus rating of “Moderate Buy” and an average target price of $20.42.

Utz Brands Trading Down 1.5 %

Utz Brands stock opened at $18.98 on Monday. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -75.92, a PEG ratio of 1.32 and a beta of 0.97. The company’s fifty day moving average price is $18.02 and its two-hundred day moving average price is $16.28. Utz Brands has a one year low of $11.17 and a one year high of $20.04. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.40 and a quick ratio of 0.95.

Utz Brands (NYSE:UTZ) last posted its earnings results on Thursday, May 2nd. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Utz Brands had a negative net margin of 1.38% and a positive return on equity of 6.16%. The business had revenue of $346.50 million for the quarter, compared to analyst estimates of $346.99 million. During the same period last year, the business posted $0.11 EPS. Utz Brands’s revenue was down 1.4% compared to the same quarter last year. On average, analysts forecast that Utz Brands will post 0.72 earnings per share for the current fiscal year.

Insider Activity at Utz Brands

In other Utz Brands news, Director Roger K. Deromedi sold 32,052 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $19.10, for a total transaction of $612,193.20. Following the completion of the sale, the director now owns 3,516,652 shares in the company, valued at approximately $67,168,053.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Roger K. Deromedi sold 7,010 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $19.07, for a total value of $133,680.70. Following the completion of the sale, the director now owns 3,440,347 shares in the company, valued at approximately $65,607,417.29. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Roger K. Deromedi sold 32,052 shares of Utz Brands stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $19.10, for a total value of $612,193.20. Following the transaction, the director now owns 3,516,652 shares in the company, valued at approximately $67,168,053.20. The disclosure for this sale can be found here. Insiders have sold 1,103,199 shares of company stock worth $20,086,036 over the last ninety days. Company insiders own 17.00% of the company’s stock.

Institutional Investors Weigh In On Utz Brands

Several large investors have recently made changes to their positions in the stock. Gratus Capital LLC acquired a new position in Utz Brands during the 3rd quarter worth approximately $6,468,000. Readystate Asset Management LP acquired a new stake in Utz Brands in the 4th quarter valued at $7,302,000. Envestnet Asset Management Inc. lifted its position in Utz Brands by 72.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 710,165 shares of the company’s stock worth $9,538,000 after buying an additional 297,395 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Utz Brands by 26.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,212,493 shares of the company’s stock worth $19,691,000 after buying an additional 250,557 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in Utz Brands by 96.5% during the third quarter. First Eagle Investment Management LLC now owns 409,027 shares of the company’s stock worth $5,493,000 after acquiring an additional 200,850 shares in the last quarter. Institutional investors 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.