Piper Sandler Has Lowered Expectations for Utz Brands (NYSE:UTZ) Stock Price

Utz Brands (NYSE:UTZ - Get Free Report) had its price objective lowered by analysts at Piper Sandler from $24.00 to $20.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's target price would indicate a potential upside of 40.21% from the company's previous close.

UTZ has been the topic of several other research reports. TD Cowen lowered their target price on shares of Utz Brands from $21.00 to $17.00 and set a "buy" rating on the stock in a research note on Wednesday, January 8th. Mizuho decreased their target price on shares of Utz Brands from $24.00 to $21.00 and set an "outperform" rating on the stock in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $20.20.

Utz Brands Price Performance

Shares of NYSE:UTZ traded up $0.34 during midday trading on Thursday, reaching $14.26. 806,378 shares of the company's stock traded hands, compared to its average volume of 1,158,771. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 1.21. The company has a fifty day simple moving average of $16.15 and a two-hundred day simple moving average of $16.55. The company has a market cap of $2.01 billion, a P/E ratio of -75.07, a PEG ratio of 0.86 and a beta of 1.03. Utz Brands has a 1 year low of $13.36 and a 1 year high of $20.04.

Utz Brands (NYSE:UTZ - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.21 earnings per share 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 7.25%. The firm had revenue of $365.50 million during the quarter, compared to the consensus estimate of $363.98 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The company's revenue for the quarter was down 1.7% on a year-over-year basis. Equities analysts predict that Utz Brands will post 0.74 EPS 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 on Monday, November 4th. The shares were sold at an average price of $17.32, for a total value of $519,600.00. Following the completion of the transaction, the executive vice president now owns 451,117 shares in the company, valued at $7,813,346.44. The trade was a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $17.29, for a total value of $48,678,335.16. Following the completion of the sale, the insider now owns 496,038 shares in the company, valued at approximately $8,576,497.02. The trade was a 85.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.00% of the company's stock.

Institutional Investors Weigh In On Utz Brands

Several large investors have recently bought and sold shares of UTZ. Canada Pension Plan Investment Board acquired a new position in Utz Brands during the 2nd quarter worth approximately $80,000. nVerses Capital LLC purchased a new stake in shares of Utz Brands during the 3rd quarter worth $142,000. Moody National Bank Trust Division acquired a new position in shares of Utz Brands during the fourth quarter worth $169,000. XTX Topco Ltd purchased a new position in Utz Brands in the second quarter valued at $185,000. Finally, MQS Management LLC purchased a new stake in Utz Brands during the 2nd quarter worth about $187,000. Hedge funds and other institutional investors own 95.97% of the company's stock.

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.