Royal Bank of Canada Has Lowered Expectations for Utz Brands (NYSE:UTZ) Stock Price

Utz Brands (NYSE:UTZ) had its target price dropped by equities researchers at Royal Bank of Canada from $23.00 to $20.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 40.99% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. Barclays lowered their price target on shares of Utz Brands from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Mizuho lowered their price target on shares of Utz Brands from $21.00 to $19.00 and set an “outperform” rating for the company in a report on Monday, February 10th. Piper Sandler lowered their price target on shares of Utz Brands from $24.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Finally, TD Cowen lowered their price objective on shares of Utz Brands from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Utz Brands presently has a consensus rating of “Moderate Buy” and an average price target of $19.30.

Utz Brands Stock Up 2.0 %

NYSE:UTZ opened at $14.19 on Monday. The firm’s 50 day simple moving average is $14.22 and its 200 day simple moving average is $16.15. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85. Utz Brands has a one year low of $12.71 and a one year high of $20.04. The company has a market cap of $2.00 billion, a PE ratio of 78.81, a P/E/G ratio of 0.86 and a beta of 1.02.

Utz Brands (NYSE:UTZ) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. Utz Brands had a net margin of 1.13% and a return on equity of 7.92%. The firm had revenue of $341.05 million during the quarter, compared to analyst estimates of $349.93 million. During the same quarter last year, the business earned $0.16 EPS. On average, research analysts anticipate that Utz Brands will post 0.85 earnings per share for the current year.

Insider Buying and Selling at Utz Brands

In other Utz Brands news, CEO Howard A. Friedman purchased 3,525 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was acquired at an average price of $14.16 per share, for a total transaction of $49,914.00. Following the purchase, the chief executive officer now owns 265,729 shares of the company’s stock, valued at $3,762,722.64. This trade represents a 1.34 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 17.00% of the stock is currently owned by company insiders.

Institutional Trading of Utz Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of UTZ. JPMorgan Chase & Co. increased its stake in Utz Brands by 14.9% during the 4th quarter. JPMorgan Chase & Co. now owns 7,923,292 shares of the company’s stock valued at $124,079,000 after purchasing an additional 1,025,656 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Utz Brands by 20.5% during the 4th quarter. Ameriprise Financial Inc. now owns 4,110,873 shares of the company’s stock valued at $64,376,000 after purchasing an additional 698,589 shares in the last quarter. Champlain Investment Partners LLC increased its stake in Utz Brands by 13.5% during the 4th quarter. Champlain Investment Partners LLC now owns 5,208,402 shares of the company’s stock valued at $81,564,000 after purchasing an additional 620,196 shares in the last quarter. Alyeska Investment Group L.P. increased its stake in Utz Brands by 157.9% during the 4th quarter. Alyeska Investment Group L.P. now owns 612,441 shares of the company’s stock valued at $9,591,000 after purchasing an additional 375,000 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Utz Brands by 19.0% during the 3rd quarter. Victory Capital Management Inc. now owns 1,474,047 shares of the company’s stock valued at $26,091,000 after purchasing an additional 235,622 shares in the last quarter. Institutional investors own 95.97% of the company’s stock.

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.