Utz Brands (NYSE:UTZ) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Utz Brands (NYSE:UTZ) released its earnings results on Thursday. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01, Briefing.com reports. Utz Brands had a return on equity of 6.79% and a net margin of 0.29%. The firm had revenue of $365.50 million during the quarter, compared to the consensus estimate of $363.98 million. During the same period in the prior year, the firm posted $0.17 earnings per share. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year.

Utz Brands Trading Up 0.8 %

Shares of NYSE:UTZ traded up $0.13 during mid-day trading on Friday, hitting $17.35. The stock had a trading volume of 1,093,157 shares, compared to its average volume of 759,776. The company’s 50 day moving average is $17.30 and its 200-day moving average is $17.24. Utz Brands has a 12-month low of $11.67 and a 12-month high of $20.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.21 and a current ratio of 1.69. The company has a market cap of $2.44 billion, a PE ratio of 578.33, a P/E/G ratio of 1.11 and a beta of 1.01.

Utz Brands Announces Dividend

The company also recently declared a None dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were issued a dividend of $0.011 per share. The ex-dividend date was Monday, September 16th. This represents a dividend yield of 1.3%. Utz Brands’s dividend payout ratio is currently 800.00%.

Insider Buying and Selling at Utz Brands

In other Utz Brands news, Director Bruce John Lindeman acquired 4,000 shares of Utz Brands stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $16.11 per share, with a total value of $64,440.00. Following the purchase, the director now owns 42,480 shares in the company, valued at approximately $684,352.80. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 17.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Piper Sandler upped their price objective on Utz Brands from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday. Barclays cut their price target on shares of Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, July 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Utz Brands in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $21.10.

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.