Amplify Snack Brands Inc. (BETR) Stock Rating Upgraded by Zacks Investment Research
Amplify Snack Brands Inc. (NYSE:BETR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $17.00 price target on the stock. Zacks Investment Research’s target price points to a potential upside of 10.03% from the stock’s previous close.
According to Zacks, “Amplify Snack Brands, Inc. is a snack food company. The Company’s brand consists of SkinnyPop is a popcorn brand. SkinnyPop product portfolio consists of flavors which include original, black pepper, white cheddar flavor and naturally sweet. It is engaged in marketing and distribution of better-for-you and ready-to-eat snacking products. The company serves natural and conventional grocery, drug, convenience, club, mass merchandise channels as well as foodservice and other non-food retail channels; over the Internet through third-party Websites. Amplify Snack Brands, Inc. is headquartered in Austin, Texas. “
A number of other equities analysts also recently issued reports on BETR. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $18.00 price target on shares of Amplify Snack Brands in a report on Saturday, July 2nd. DA Davidson increased their price target on shares of Amplify Snack Brands from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, August 9th. Finally, Oppenheimer Holdings Inc. increased their price target on shares of Amplify Snack Brands from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, September 7th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $18.17.
Amplify Snack Brands (NYSE:BETR) opened at 15.45 on Wednesday. Amplify Snack Brands has a 12-month low of $9.15 and a 12-month high of $17.53. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 64.11 and a beta of 2.59. The firm has a 50-day moving average of $16.27 and a 200 day moving average of $14.78.
Amplify Snack Brands (NYSE:BETR) last released its earnings results on Monday, August 8th. The company reported $0.15 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. Amplify Snack Brands had a net margin of 9.00% and a return on equity of 233.97%. The company earned $59.90 million during the quarter, compared to analysts’ expectations of $47.40 million. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. On average, equities analysts predict that Amplify Snack Brands will post $0.61 EPS for the current year.
In other Amplify Snack Brands news, Director Andrew S. Friedman sold 8,200 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $16.59, for a total transaction of $136,038.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas C. Ennis sold 43,000 shares of the firm’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $16.37, for a total transaction of $703,910.00. Following the sale, the chief executive officer now directly owns 2,889,827 shares in the company, valued at $47,306,467.99. The disclosure for this sale can be found here. Company insiders own 74.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Amplify Snack Brands by 159.7% in the second quarter. Vanguard Group Inc. now owns 2,919,715 shares of the company’s stock valued at $43,066,000 after buying an additional 1,795,594 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in Amplify Snack Brands during the second quarter valued at about $40,348,000. Copper Rock Capital Partners LLC boosted its stake in Amplify Snack Brands by 40.8% in the second quarter. Copper Rock Capital Partners LLC now owns 1,942,433 shares of the company’s stock valued at $28,651,000 after buying an additional 562,708 shares in the last quarter. Janus Capital Management LLC boosted its stake in Amplify Snack Brands by 28.1% in the second quarter. Janus Capital Management LLC now owns 1,787,078 shares of the company’s stock valued at $26,359,000 after buying an additional 392,178 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in Amplify Snack Brands by 581.5% in the second quarter. Loomis Sayles & Co. L P now owns 1,176,934 shares of the company’s stock valued at $17,360,000 after buying an additional 1,004,234 shares in the last quarter. 90.99% of the stock is currently owned by institutional investors.
About Amplify Snack Brands
Amplify Snack Brands, Inc is a snack food company. The Company and its subsidiaries are focused on developing and marketing products that appeal to consumers’ preference for Better-For-You (BFY) snacks. Its BFY-focused snacking platform consists of two brands: SkinnyPop and Paqui. Its anchor brand, SkinnyPop, is a BFY ready-to-eat (RTE) popcorn brand.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Amplify Snack Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amplify Snack Brands Inc. and related companies with MarketBeat.com's FREE daily email newsletter.