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

Utz Brands (NYSE:UTZ - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.01, Briefing.com reports. 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 during the quarter, compared to analyst estimates of $363.98 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. The firm's revenue for the quarter was down 1.7% on a year-over-year basis.

Utz Brands Price Performance

Shares of NYSE:UTZ traded up $0.13 on Friday, hitting $17.35. The stock had a trading volume of 1,094,157 shares, compared to its average volume of 759,776. The firm's 50 day moving average price is $17.31 and its 200-day moving average price 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 twelve month low of $11.67 and a twelve month high of $20.04. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of -91.32, a price-to-earnings-growth ratio of 1.11 and a beta of 1.01.

Utz Brands Dividend Announcement

The business also recently disclosed a None dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were issued a dividend of $0.011 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a dividend yield of 1.3%. Utz Brands's payout ratio is presently -121.05%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Needham & Company LLC restated a "buy" rating and set a $22.00 price target on shares of Utz Brands in a research note on Friday, August 2nd. Barclays lowered their price objective 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, Piper Sandler raised their target price on Utz Brands from $22.00 to $24.00 and gave the stock an "overweight" rating in a research report on Friday. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $21.10.

Insider Buying and Selling

In other news, Director Bruce John Lindeman bought 4,000 shares of the business's stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $16.11 per share, for a total transaction of $64,440.00. Following the completion of the purchase, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 17.00% of the stock is currently owned by corporate insiders.

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.