Brokerages Set Utz Brands, Inc. (NYSE:UTZ) PT at $20.36

Shares of Utz Brands, Inc. (NYSE:UTZ) have received a consensus rating of “Moderate Buy” from the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $20.36.

A number of equities analysts have issued reports on UTZ shares. Barclays decreased their price objective on shares of Utz Brands from $23.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, July 19th. Needham & Company LLC reissued a “buy” rating and issued a $22.00 target price on shares of Utz Brands in a research report on Friday, August 2nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $22.00 target price on shares of Utz Brands in a research report on Wednesday, August 21st.

Insider Buying and Selling at Utz Brands

In other news, Director Bruce John Lindeman bought 4,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $16.11 per share, for a total transaction of $64,440.00. Following the completion of the transaction, the director now directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Utz Brands

A number of institutional investors have recently modified their holdings of UTZ. Fifth Third Bancorp acquired a new stake in Utz Brands in the 2nd quarter valued at about $44,000. Canada Pension Plan Investment Board acquired a new stake in shares of Utz Brands in the 2nd quarter valued at $80,000. SG Americas Securities LLC acquired a new position in shares of Utz Brands during the second quarter valued at $103,000. Envestnet Portfolio Solutions Inc. bought a new stake in Utz Brands during the 1st quarter worth about $196,000. Finally, XTX Topco Ltd bought a new stake in Utz Brands in the second quarter valued at approximately $185,000. Institutional investors own 95.97% of the company’s stock.

Utz Brands Price Performance

UTZ opened at $17.09 on Friday. The firm has a 50-day moving average price of $17.27 and a 200-day moving average price of $17.31. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.57. Utz Brands has a twelve month low of $11.17 and a twelve month high of $20.04. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of -68.36, a PEG 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, beating the consensus estimate of $0.16 by $0.03. The firm had revenue of $356.20 million during the quarter, compared to the consensus estimate of $356.23 million. Utz Brands had a net margin of 0.29% and a return on equity of 6.79%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the firm earned $0.13 EPS. Equities analysts expect that Utz Brands will post 0.74 EPS for the current year.

Utz Brands Dividend Announcement

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

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.