Utz Brands, Inc. (NYSE:UTZ) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Utz Brands, Inc. (NYSE:UTZ) have earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $20.80.

Several research analysts recently issued reports on the company. Piper Sandler lifted their target price on Utz Brands from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 target price on shares of Utz Brands in a research report on Friday, August 2nd. Barclays cut their target price on Utz Brands from $23.00 to $19.00 and set an “overweight” rating on the stock in a research report on Friday, July 19th. Finally, Mizuho cut their target price on Utz Brands from $24.00 to $21.00 and set an “outperform” rating on the stock in a research report on Monday.

Utz Brands Trading Down 0.1 %

Shares of Utz Brands stock opened at $17.34 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.21 and a current ratio of 1.69. Utz Brands has a 52 week low of $11.67 and a 52 week high of $20.04. The stock has a 50 day moving average price of $17.31 and a two-hundred day moving average price of $17.24. The stock has a market capitalization of $2.44 billion, a PE ratio of -91.26, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. Utz Brands had a positive return on equity of 7.24% and a negative net margin of 0.99%. The firm had revenue of $365.50 million during the quarter, compared to analysts’ expectations of $363.98 million. During the same quarter last year, the firm posted $0.17 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, equities analysts anticipate that Utz Brands will post 0.74 earnings per share for the current fiscal 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 dividend of $0.011 per share. The ex-dividend date was Monday, September 16th. This represents a yield of 1.3%. Utz Brands’s dividend payout ratio (DPR) is currently -126.32%.

Insider Buying and Selling

In other Utz Brands news, EVP Cary Devore sold 30,000 shares of the business’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $17.32, for a total value of $519,600.00. Following the sale, the executive vice president now directly owns 451,117 shares in the company, valued at $7,813,346.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 17.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Utz Brands

Several hedge funds have recently made changes to their positions in UTZ. Norden Group LLC bought a new stake in shares of Utz Brands in the first quarter valued at $620,000. Jennison Associates LLC raised its stake in shares of Utz Brands by 15.2% in the first quarter. Jennison Associates LLC now owns 1,331,581 shares of the company’s stock valued at $24,554,000 after buying an additional 175,956 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Utz Brands in the first quarter valued at $196,000. Quantbot Technologies LP bought a new stake in shares of Utz Brands in the first quarter valued at $239,000. Finally, Sei Investments Co. grew its position in shares of Utz Brands by 1.7% in the first quarter. Sei Investments Co. now owns 187,940 shares of the company’s stock valued at $3,466,000 after purchasing an additional 3,068 shares in the last quarter. 95.97% of the stock is currently owned by 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.