Utz Brands (NYSE:UTZ) Given New $21.00 Price Target at Mizuho

Utz Brands (NYSE:UTZ - Get Free Report) had its target price cut by analysts at Mizuho from $24.00 to $21.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Mizuho's price objective would suggest a potential upside of 21.11% from the stock's previous close.

Several other research firms have also recently weighed in on UTZ. Piper Sandler lifted their price target on shares of Utz Brands from $22.00 to $24.00 and gave the company an "overweight" rating in a report on Friday. Needham & Company LLC reissued a "buy" rating and issued a $22.00 price target on shares of Utz Brands in a research note on Friday, August 2nd. Finally, Barclays cut 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. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $20.80.

Utz Brands Price Performance

UTZ stock traded down $0.01 during mid-day trading on Monday, hitting $17.34. 447,791 shares of the stock were exchanged, compared to its average volume of 758,316. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of -91.32, a PEG ratio of 1.18 and a beta of 1.01. Utz Brands has a 12 month low of $11.67 and a 12 month high of $20.04. The business has a fifty day moving average price of $17.31 and a 200 day moving average price of $17.24. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.21.

Utz Brands (NYSE:UTZ - Get Free Report) last issued its earnings results 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. Utz Brands had a negative net margin of 0.99% and a positive return on equity of 7.24%. The firm had revenue of $365.50 million for the quarter, compared to analysts' expectations of $363.98 million. During the same quarter last year, the business earned $0.17 earnings per share. The business's revenue was down 1.7% on a year-over-year basis. On average, sell-side analysts anticipate that Utz Brands will post 0.74 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UTZ. Comerica Bank grew its holdings in shares of Utz Brands by 5.4% in the first quarter. Comerica Bank now owns 16,491 shares of the company's stock worth $304,000 after acquiring an additional 848 shares during the period. ProShare Advisors LLC grew its stake in shares of Utz Brands by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 12,944 shares of the company's stock valued at $239,000 after purchasing an additional 1,017 shares during the period. Envestnet Portfolio Solutions Inc. increased its position in shares of Utz Brands by 11.6% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 11,838 shares of the company's stock valued at $197,000 after purchasing an additional 1,228 shares during the last quarter. Diversified Trust Co lifted its stake in shares of Utz Brands by 4.5% in the 2nd quarter. Diversified Trust Co now owns 44,870 shares of the company's stock worth $747,000 after purchasing an additional 1,925 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Utz Brands by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,879 shares of the company's stock worth $1,068,000 after purchasing an additional 2,540 shares during the period. Institutional investors own 95.97% of the company's stock.

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.