Brokerages Set Utz Brands, Inc. (NYSE:UTZ) Target Price at $20.17

Shares of Utz Brands, Inc. (NYSE:UTZ) have been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are currently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $20.17.

Several brokerages have recently issued reports on UTZ. Barclays cut their target price on shares of Utz Brands from $23.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, July 19th. Mizuho upped their price objective on shares of Utz Brands from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price on shares of Utz Brands in a research note on Friday, August 2nd. Stephens increased their price objective on Utz Brands from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada lifted their price target on shares of Utz Brands from $19.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, May 3rd.

Utz Brands Stock Performance

NYSE UTZ opened at $17.04 on Thursday. The company’s 50 day simple moving average is $16.25 and its two-hundred day simple moving average is $17.52. The stock has a market capitalization of $2.40 billion, a PE ratio of -68.16, a P/E/G ratio of 1.07 and a beta of 1.00. 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 has a 1 year low of $11.17 and a 1 year high of $20.04.

Utz Brands (NYSE:UTZ) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. The company had revenue of $356.20 million during the quarter, compared to analyst estimates of $356.23 million. Utz Brands had a return on equity of 6.80% and a net margin of 0.29%. Utz Brands’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 earnings per share. Analysts predict that Utz Brands will post 0.73 earnings per share for the current fiscal year.

Utz Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Investors of record on Monday, June 17th were given a dividend of $0.059 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date was Monday, June 17th. Utz Brands’s dividend payout ratio (DPR) is presently -92.00%.

Insider Buying and Selling at Utz Brands

In other news, Director Bruce John Lindeman acquired 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $16.11 per share, for a total transaction of $64,440.00. Following the acquisition, the director now directly owns 42,480 shares in the company, valued at $684,352.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 17.00% of the stock is owned by company insiders.

Institutional Trading of Utz Brands

A number of large investors have recently made changes to their positions in the stock. Fifth Third Bancorp bought a new stake in shares of Utz Brands during the 2nd quarter valued at about $44,000. SRS Capital Advisors Inc. boosted its stake in shares of Utz Brands by 120.2% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,464 shares of the company’s stock worth $56,000 after acquiring an additional 1,891 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Utz Brands during the 2nd quarter valued at $80,000. Delta Asset Management LLC TN increased 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 worth $81,000 after purchasing an additional 2,500 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Utz Brands by 1,428.8% in the 4th quarter. International Assets Investment Management LLC now owns 5,473 shares of the company’s stock worth $89,000 after purchasing an additional 5,115 shares during the period. 95.97% of the stock is currently owned by institutional investors.

Utz Brands Company Profile

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.