Utz Brands (NYSE:UTZ) Price Target Increased to $23.00 by Analysts at Stephens

Utz Brands (NYSE:UTZ) had its price target raised by equities researchers at Stephens from $21.00 to $23.00 in a report released on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Stephens’ target price indicates a potential upside of 19.54% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Bank of America upgraded Utz Brands from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $19.00 to $22.00 in a research report on Thursday, March 14th. Royal Bank of Canada boosted their price objective on shares of Utz Brands from $19.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday. DA Davidson initiated coverage on shares of Utz Brands in a report on Friday, March 1st. They issued a “neutral” rating and a $20.00 target price for the company. Needham & Company LLC boosted their price target on Utz Brands from $20.50 to $22.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Truist Financial upped their price target on Utz Brands from $13.00 to $17.00 and gave the stock a “hold” rating in a report on Monday, March 4th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Utz Brands currently has a consensus rating of “Moderate Buy” and an average target price of $19.83.

Utz Brands Stock Performance

Shares of UTZ stock traded down $0.31 during mid-day trading on Friday, hitting $19.24. The stock had a trading volume of 1,167,463 shares, compared to its average volume of 813,531. The firm has a market cap of $2.71 billion, a PE ratio of -62.06, a PEG ratio of 1.63 and a beta of 0.97. The company’s 50-day simple moving average is $18.01 and its 200-day simple moving average is $16.11. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.42 and a quick ratio of 0.97. Utz Brands has a fifty-two week low of $11.17 and a fifty-two week high of $20.04.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Utz Brands had a negative net margin of 1.73% and a positive return on equity of 6.08%. The firm had revenue of $346.50 million during the quarter, compared to the consensus estimate of $346.99 million. During the same quarter last year, the firm earned $0.11 earnings per share. The firm’s revenue was down 1.4% compared to the same quarter last year. Sell-side analysts anticipate that Utz Brands will post 0.68 earnings per share for the current year.

Insider Activity at Utz Brands

In other Utz Brands news, Director Roger K. Deromedi sold 3,785 shares of Utz Brands stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $19.13, for a total value of $72,407.05. Following the completion of the sale, the director now owns 3,399,470 shares in the company, valued at approximately $65,031,861.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Roger K. Deromedi sold 3,785 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $19.13, for a total value of $72,407.05. Following the completion of the sale, the director now directly owns 3,399,470 shares in the company, valued at $65,031,861.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $17.40, for a total transaction of $7,764,750.00. Following the completion of the sale, the insider now owns 397,885 shares of the company’s stock, valued at $6,923,199. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 609,181 shares of company stock worth $10,754,925. 17.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Utz Brands

Institutional investors have recently bought and sold shares of the stock. Gratus Capital LLC acquired a new position in Utz Brands during the third quarter valued at approximately $6,468,000. Readystate Asset Management LP acquired a new position in Utz Brands during the fourth quarter valued at approximately $7,302,000. Envestnet Asset Management Inc. lifted its position in Utz Brands by 72.0% during the third quarter. Envestnet Asset Management Inc. now owns 710,165 shares of the company’s stock valued at $9,538,000 after buying an additional 297,395 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Utz Brands by 26.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,212,493 shares of the company’s stock valued at $19,691,000 after buying an additional 250,557 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its position in Utz Brands by 96.5% during the third quarter. First Eagle Investment Management LLC now owns 409,027 shares of the company’s stock valued at $5,493,000 after buying an additional 200,850 shares in 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.