Utz Brands (NYSE:UTZ) Given New $24.00 Price Target at Piper Sandler

Utz Brands (NYSE:UTZ - Get Free Report) had its price objective increased by analysts at Piper Sandler from $22.00 to $24.00 in a research note issued on Friday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's target price would indicate a potential upside of 38.33% from the company's current price.

Several other equities research analysts have also commented on UTZ. Barclays cut their price objective on Utz Brands from $23.00 to $19.00 and set an "overweight" rating for the company in a research note on Friday, July 19th. Needham & Company LLC reiterated a "buy" rating and set a $22.00 price target on shares of Utz Brands in a research report 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 stock. According to MarketBeat.com, Utz Brands presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.10.

Utz Brands Price Performance

Utz Brands stock traded up $0.13 during trading on Friday, reaching $17.35. The company had a trading volume of 1,093,151 shares, compared to its average volume of 759,776. The firm has a market capitalization of $2.44 billion, a PE ratio of 578.33, a price-to-earnings-growth ratio of 1.11 and a beta of 1.01. The firm's 50-day simple moving average is $17.31 and its 200 day simple moving average is $17.24. 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 1-year low of $11.67 and a 1-year high of $20.04.

Utz Brands (NYSE:UTZ - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. Utz Brands had a net margin of 0.29% and a return on equity of 6.79%. The business had revenue of $365.50 million for the quarter, compared to analyst estimates of $363.98 million. During the same quarter last year, the business earned $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 research analysts anticipate that Utz Brands will post 0.74 earnings per share for the current fiscal year.

Insider Activity at Utz Brands

In other Utz Brands news, Director Bruce John Lindeman acquired 4,000 shares of the firm's stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $16.11 per share, for a total transaction of $64,440.00. Following the completion of the acquisition, the director now owns 42,480 shares of the company's stock, valued at approximately $684,352.80. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 17.00% of the stock is currently owned by insiders.

Institutional Trading of Utz Brands

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Utz Brands by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 6,780,350 shares of the company's stock worth $110,113,000 after buying an additional 22,908 shares during the period. Jennison Associates LLC increased its stake in 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 purchasing an additional 175,956 shares during the last quarter. Victory Capital Management Inc. raised its stake in Utz Brands by 22.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,238,425 shares of the company's stock worth $20,607,000 after acquiring an additional 223,462 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Utz Brands by 2.2% during the first quarter. Clearbridge Investments LLC now owns 874,124 shares of the company's stock worth $16,119,000 after purchasing an additional 18,786 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Utz Brands by 2.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 696,019 shares of the company's stock worth $11,582,000 after buying an additional 14,647 shares during the last quarter. 95.97% of the stock is owned by institutional investors and hedge funds.

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.