Utz Brands (NYSE:UTZ) Price Target Lowered to $17.00 at Barclays

Utz Brands (NYSE:UTZ) had its price target reduced by analysts at Barclays from $19.00 to $17.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 19.93% from the company’s current price.

UTZ has been the subject of several other reports. TD Cowen decreased their price objective on Utz Brands from $21.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Mizuho reduced their price target on shares of Utz Brands from $24.00 to $21.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Finally, Piper Sandler dropped their price objective on shares of Utz Brands from $24.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.20.

Utz Brands Trading Up 1.8 %

UTZ stock traded up $0.26 during mid-day trading on Friday, reaching $14.18. The company had a trading volume of 270,817 shares, compared to its average volume of 1,109,229. The company has a market capitalization of $2.00 billion, a PE ratio of -74.61, a price-to-earnings-growth ratio of 0.86 and a beta of 1.03. The firm has a 50 day moving average of $16.15 and a 200 day moving average of $16.55. Utz Brands has a 12 month low of $13.36 and a 12 month high of $20.04. 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 (NYSE:UTZ) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. The company had revenue of $365.50 million for the quarter, compared to analysts’ expectations of $363.98 million. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. Utz Brands’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.17 earnings per share. On average, equities analysts predict that Utz Brands will post 0.74 earnings per share for the current fiscal year.

Insider Transactions at Utz Brands

In other Utz Brands news, EVP Cary Devore sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $17.32, for a total transaction of $519,600.00. Following the sale, the executive vice president now owns 451,117 shares of the company’s stock, valued at approximately $7,813,346.44. The trade was a 6.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $17.29, for a total transaction of $48,678,335.16. Following the transaction, the insider now owns 496,038 shares in the company, valued at $8,576,497.02. The trade was a 85.02 % decrease in their position. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Utz Brands by 9.5% during the third quarter. State Street Corp now owns 1,758,961 shares of the company’s stock worth $31,256,000 after purchasing an additional 152,868 shares during the period. Vestcor Inc lifted its stake in Utz Brands by 11.4% during the 3rd quarter. Vestcor Inc now owns 296,100 shares of the company’s stock valued at $5,241,000 after acquiring an additional 30,400 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Utz Brands by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,548,231 shares of the company’s stock valued at $27,409,000 after acquiring an additional 47,320 shares during the last quarter. Kimelman & Baird LLC acquired a new stake in shares of Utz Brands in the second quarter worth $907,000. Finally, Barclays PLC increased its stake in shares of Utz Brands by 21.4% in the third quarter. Barclays PLC now owns 555,477 shares of the company’s stock worth $9,831,000 after acquiring an additional 97,767 shares during the period. 95.97% of the stock is owned by institutional investors and hedge funds.

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.