Zacks Investment Research Lowers Amplify Snack Brands Inc. (BETR) to Hold
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. “
Several other research analysts have also commented on the company. Piper Jaffray Cos. reaffirmed an overweight rating and set a $18.00 price target on shares of Amplify Snack Brands in a research report on Saturday, July 2nd. Oppenheimer Holdings Inc. lifted 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. Finally, DA Davidson lifted 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. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $18.14.
Amplify Snack Brands (NYSE:BETR) opened at 15.16 on Thursday. Amplify Snack Brands has a 1-year low of $9.15 and a 1-year high of $17.53. The company has a 50-day moving average price of $16.21 and a 200 day moving average price of $14.81. The firm has a market capitalization of $1.07 billion, a P/E ratio of 62.90 and a beta of 2.59.
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 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 company’s revenue for the quarter was up 26.4% on a year-over-year basis. Analysts expect that Amplify Snack Brands will post $0.61 earnings per share for the current fiscal year.
In related news, CEO Thomas C. Ennis sold 43,000 shares of Amplify Snack Brands stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $16.37, for a total value 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Pamela L. Netzky sold 42,000 shares of Amplify Snack Brands stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $15.51, for a total value of $651,420.00. The disclosure for this sale can be found here. 74.70% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of BETR. Prudential Financial Inc. acquired a new stake in Amplify Snack Brands during the first quarter worth $1,489,000. Goldman Sachs Group Inc. increased its stake in Amplify Snack Brands by 298.8% in the first quarter. Goldman Sachs Group Inc. now owns 132,440 shares of the company’s stock worth $1,897,000 after buying an additional 99,227 shares during the period. Loomis Sayles & Co. L P acquired a new stake in Amplify Snack Brands during the first quarter worth $2,473,000. Geode Capital Management LLC increased its stake in Amplify Snack Brands by 16.9% in the first quarter. Geode Capital Management LLC now owns 100,777 shares of the company’s stock worth $1,443,000 after buying an additional 14,601 shares during the period. Finally, Kennedy Capital Management Inc. acquired a new stake 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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