Utz Brands, Inc. (NYSE:UTZ) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Utz Brands, Inc. (NYSE:UTZ) have received an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $20.36.

Several equities analysts have weighed in on UTZ shares. Piper Sandler reissued an “overweight” rating and set a $22.00 price target on shares of Utz Brands in a research report on Wednesday, August 21st. Needham & Company LLC reiterated a “buy” rating and set a $22.00 price objective on shares of Utz Brands in a research report on Friday, August 2nd. Finally, Barclays reduced their target price 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.

Utz Brands Price Performance

Utz Brands stock opened at $17.64 on Friday. The firm has a market capitalization of $2.48 billion, a PE ratio of -70.56, a P/E/G ratio of 1.14 and a beta of 1.01. Utz Brands has a 52 week low of $11.50 and a 52 week high of $20.04. The firm’s 50-day simple moving average is $17.33 and its 200 day simple moving average is $17.30. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.57.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.03. Utz Brands had a net margin of 0.29% and a return on equity of 6.79%. The company had revenue of $356.20 million for the quarter, compared to the consensus estimate of $356.23 million. During the same quarter in the prior year, the firm earned $0.13 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, equities research analysts predict that Utz Brands will post 0.74 EPS for the current fiscal year.

Utz Brands Announces Dividend

The firm also recently declared a None dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were issued a $0.011 dividend. This represents a yield of 1.3%. The ex-dividend date was Monday, September 16th. Utz Brands’s dividend payout ratio (DPR) is -92.00%.

Insider Transactions at Utz Brands

In related news, Director Bruce John Lindeman purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $16.11 per share, with a total value of $64,440.00. Following the completion of the transaction, the director now owns 42,480 shares of the company’s stock, valued at approximately $684,352.80. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 17.00% of the company’s stock.

Institutional Investors Weigh In On Utz Brands

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Utz Brands by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 6,780,350 shares of the company’s stock valued at $110,113,000 after purchasing an additional 22,908 shares in the last quarter. Jennison Associates LLC lifted its position in Utz Brands by 15.2% during the first quarter. Jennison Associates LLC now owns 1,331,581 shares of the company’s stock valued at $24,554,000 after buying an additional 175,956 shares in the last quarter. Victory Capital Management Inc. grew its stake in Utz Brands by 22.0% during the second quarter. Victory Capital Management Inc. now owns 1,238,425 shares of the company’s stock worth $20,607,000 after buying an additional 223,462 shares during the period. Clearbridge Investments LLC increased its position in shares of Utz Brands by 2.2% in the first quarter. Clearbridge Investments LLC now owns 874,124 shares of the company’s stock worth $16,119,000 after acquiring an additional 18,786 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Utz Brands by 2.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 696,019 shares of the company’s stock valued at $11,582,000 after acquiring an additional 14,647 shares during the period. 95.97% of the stock is currently owned by institutional investors and hedge funds.

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.