Amplify Snack Brands Inc. (BETR) Lowered to “Neutral” at Goldman Sachs Group Inc.
Goldman Sachs Group Inc. lowered shares of Amplify Snack Brands Inc. (NYSE:BETR) from a buy rating to a neutral rating in a research note released on Friday morning. They currently have $18.00 target price on the stock, up from their prior target price of $15.45.
A number of other equities research analysts have also commented on BETR. Zacks Investment Research lowered Amplify Snack Brands from a buy rating to a hold rating in a research report on Thursday. DA Davidson raised their price target on Amplify Snack Brands from $18.00 to $19.00 and gave the stock a buy rating in a research report on Tuesday, August 9th. Piper Jaffray Cos. reaffirmed an overweight rating and set a $19.00 price target on shares of Amplify Snack Brands in a research report on Thursday, August 11th. Finally, Oppenheimer Holdings Inc. raised their price target on Amplify Snack Brands from $19.00 to $20.00 and gave the stock an outperform rating in a research report on Wednesday, September 7th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Amplify Snack Brands presently has a consensus rating of Buy and an average price target of $18.14.
Shares of Amplify Snack Brands (NYSE:BETR) traded up 0.234% during mid-day trading on Friday, hitting $14.995. The stock had a trading volume of 84,398 shares. The company’s 50 day moving average is $16.24 and its 200-day moving average is $14.79. The stock has a market cap of $1.06 billion, a P/E ratio of 62.220 and a beta of 2.59. Amplify Snack Brands has a 52-week low of $9.15 and a 52-week high of $17.53.
Amplify Snack Brands (NYSE:BETR) last released its quarterly earnings results on Monday, August 8th. The company reported $0.15 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.15. The company had revenue of $59.90 million for the quarter, compared to analyst estimates of $47.40 million. Amplify Snack Brands had a return on equity of 233.97% and a net margin of 9.00%. The business’s quarterly revenue was up 26.4% on a year-over-year basis. On average, equities research analysts anticipate that Amplify Snack Brands will post $0.61 earnings per share for the current fiscal year.
In other Amplify Snack Brands news, Director Pamela L. Netzky sold 42,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $15.51, for a total value of $651,420.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Pamela L. Netzky sold 10,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 12th. The shares were sold at an average price of $15.60, for a total value of $163,800.00. The disclosure for this sale can be found here. 74.70% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Stoneridge Investment Partners LLC increased its position in Amplify Snack Brands by 8.3% in the second quarter. Stoneridge Investment Partners LLC now owns 153,282 shares of the company’s stock worth $2,261,000 after buying an additional 11,693 shares in the last quarter. Prudential Financial Inc. bought a new position in Amplify Snack Brands during the first quarter worth $1,489,000. Cortina Asset Management LLC bought a new position in Amplify Snack Brands during the second quarter worth $7,690,000. Bayesian Capital Management LP bought a new position in Amplify Snack Brands during the first quarter worth $156,000. Finally, Kennedy Capital Management Inc. bought a new position in Amplify Snack Brands during the first quarter worth $1,888,000. Hedge funds and other institutional investors own 90.25% of the company’s stock.
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.
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