Royal Bank of Canada Has Lowered Expectations for Utz Brands (NYSE:UTZ) Stock Price

Utz Brands (NYSE:UTZ) had its target price reduced by research analysts at Royal Bank of Canada from $23.00 to $20.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 40.15% from the stock’s current price.

Other analysts have also issued reports about the company. Barclays decreased their target price on Utz Brands from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Piper Sandler lowered their target price on Utz Brands from $24.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Mizuho cut their target price on Utz Brands from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Finally, TD Cowen decreased their price target on shares of Utz Brands from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $19.30.

Utz Brands Trading Up 1.2 %

Shares of UTZ stock traded up $0.17 during trading hours on Monday, hitting $14.27. 143,301 shares of the company were exchanged, compared to its average volume of 1,132,337. The company has a 50 day simple moving average of $14.35 and a two-hundred day simple moving average of $16.19. The firm has a market cap of $2.01 billion, a P/E ratio of 79.33, a P/E/G ratio of 0.86 and a beta of 1.01. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 1.21. Utz Brands has a fifty-two week low of $12.71 and a fifty-two week high of $20.04.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. Utz Brands had a net margin of 1.13% and a return on equity of 7.92%. The business had revenue of $341.05 million during the quarter, compared to analysts’ expectations of $349.93 million. During the same period last year, the company posted $0.16 earnings per share. Equities analysts anticipate that Utz Brands will post 0.85 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UTZ. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Utz Brands by 4.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 143,728 shares of the company’s stock worth $2,251,000 after buying an additional 6,268 shares in the last quarter. Two Sigma Investments LP bought a new stake in Utz Brands during the fourth quarter worth $512,000. Snowden Capital Advisors LLC boosted its position in Utz Brands by 6.9% in the fourth quarter. Snowden Capital Advisors LLC now owns 35,318 shares of the company’s stock worth $555,000 after purchasing an additional 2,282 shares during the last quarter. ProShare Advisors LLC grew its stake in Utz Brands by 51.1% in the 4th quarter. ProShare Advisors LLC now owns 18,569 shares of the company’s stock valued at $291,000 after purchasing an additional 6,279 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Utz Brands by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,280 shares of the company’s stock valued at $584,000 after purchasing an additional 1,596 shares during the last quarter. 95.97% of the stock is currently owned by hedge funds and other institutional investors.

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.