Utz Brands, Inc. (NYSE:UTZ) Receives $20.17 Average PT from Analysts

Shares of Utz Brands, Inc. (NYSE:UTZ - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twelve brokerages that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $20.17.

Several equities analysts have commented on the company. Royal Bank of Canada upped their price objective on Utz Brands from $19.00 to $23.00 and gave the company an "outperform" rating in a research report on Friday, May 3rd. Mizuho raised their target price on shares of Utz Brands from $22.00 to $24.00 and gave the company a "buy" rating in a research note on Friday, May 3rd. Stephens upped their price objective on shares of Utz Brands from $21.00 to $23.00 and gave the company an "overweight" rating in a report on Friday, May 3rd. Piper Sandler restated an "overweight" rating and issued a $22.00 target price on shares of Utz Brands in a research note on Wednesday. Finally, Barclays dropped their price objective on shares of Utz Brands from $23.00 to $19.00 and set an "overweight" rating on the stock in a report on Friday, July 19th.

Insider Activity at Utz Brands

In other Utz Brands news, Director Bruce John Lindeman bought 4,000 shares of Utz Brands stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $16.11 per share, with a total value of $64,440.00. Following the purchase, the director now directly owns 42,480 shares in the company, valued at approximately $684,352.80. The acquisition was disclosed in a filing with the SEC, which is available at this link. 17.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of UTZ. Fifth Third Bancorp purchased a new stake in Utz Brands during the 2nd quarter worth approximately $44,000. SRS Capital Advisors Inc. raised its stake in Utz Brands by 120.2% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,464 shares of the company's stock valued at $56,000 after purchasing an additional 1,891 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Utz Brands in the 2nd quarter valued at $80,000. Delta Asset Management LLC TN lifted its holdings in Utz Brands by 100.0% in the 4th quarter. Delta Asset Management LLC TN now owns 5,000 shares of the company's stock valued at $81,000 after purchasing an additional 2,500 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Utz Brands by 1,428.8% during the 4th quarter. International Assets Investment Management LLC now owns 5,473 shares of the company's stock worth $89,000 after purchasing an additional 5,115 shares during the last quarter. Institutional investors and hedge funds own 95.97% of the company's stock.

Utz Brands Price Performance

Utz Brands stock traded down $0.16 during mid-day trading on Thursday, hitting $16.94. The stock had a trading volume of 741,358 shares, compared to its average volume of 803,341. The company has a current ratio of 1.40, a quick ratio of 0.95 and a debt-to-equity ratio of 0.54. Utz Brands has a one year low of $11.17 and a one year high of $20.04. The firm's 50 day moving average is $16.27 and its 200 day moving average is $17.54. The firm has a market capitalization of $2.39 billion, a P/E ratio of -67.76, a P/E/G ratio of 1.07 and a beta of 1.00.

Utz Brands (NYSE:UTZ - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. Utz Brands had a return on equity of 6.80% and a net margin of 0.29%. The business had revenue of $356.20 million for the quarter, compared to analysts' expectations of $356.23 million. During the same period in the prior year, the firm earned $0.13 EPS. The company's revenue for the quarter was down 1.8% on a year-over-year basis. On average, sell-side analysts forecast that Utz Brands will post 0.73 earnings per share for the current fiscal year.

Utz Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Monday, June 17th were paid a dividend of $0.059 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend was Monday, June 17th. Utz Brands's payout ratio is currently -92.00%.

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.