Utz Brands (NYSE:UTZ) Stock Price Up 3.1%

Utz Brands, Inc. (NYSE:UTZ)’s share price traded up 3.1% during mid-day trading on Tuesday . The company traded as high as $17.42 and last traded at $17.41. 172,963 shares traded hands during trading, a decline of 78% from the average session volume of 787,905 shares. The stock had previously closed at $16.89.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $22.00 target price on shares of Utz Brands in a research note on Friday, August 2nd. Piper Sandler reissued an “overweight” rating and set a $22.00 target price on shares of Utz Brands in a research note on Wednesday, August 21st. Finally, Barclays reduced their target price on shares of Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, July 19th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.17.

Utz Brands Price Performance

The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.57. The business’s fifty day moving average is $16.23 and its 200 day moving average is $17.44. The firm has a market capitalization of $2.48 billion, a P/E ratio of -70.48, a P/E/G ratio of 1.17 and a beta of 1.01.

Utz Brands (NYSE:UTZ) last released its earnings results on Thursday, August 1st. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Utz Brands had a net margin of 0.29% and a return on equity of 6.79%. The business had revenue of $356.20 million for the quarter, compared to the consensus estimate of $356.23 million. During the same period in the previous year, the firm earned $0.13 EPS. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, analysts forecast that Utz Brands, Inc. will post 0.73 EPS for the current year.

Insider Activity

In other news, Director Bruce John Lindeman purchased 4,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average price of $16.11 per share, for a total transaction of $64,440.00. Following the completion of the acquisition, the director now directly owns 42,480 shares of the company’s stock, valued at $684,352.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UTZ. Truist Financial Corp grew its position in Utz Brands by 20.8% in the second quarter. Truist Financial Corp now owns 24,209 shares of the company’s stock worth $403,000 after acquiring an additional 4,176 shares in the last quarter. Kimelman & Baird LLC bought a new stake in Utz Brands in the second quarter worth approximately $907,000. Creative Planning grew its position in Utz Brands by 8.2% in the second quarter. Creative Planning now owns 37,155 shares of the company’s stock worth $618,000 after acquiring an additional 2,802 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in Utz Brands in the second quarter worth approximately $379,000. Finally, Deerfield Management Company L.P. Series C bought a new stake in Utz Brands in the second quarter worth approximately $667,000. 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.