Piper Sandler Lowers Utz Brands (NYSE:UTZ) Price Target to $20.00

Utz Brands (NYSE:UTZ) had its price target reduced by stock analysts at Piper Sandler from $24.00 to $20.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 40.21% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. TD Cowen reduced their target price on Utz Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Mizuho lowered their target price on Utz Brands from $24.00 to $21.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.20.

Utz Brands Price Performance

Shares of NYSE UTZ opened at $14.26 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.85 and a debt-to-equity ratio of 0.56. The firm has a market cap of $2.01 billion, a P/E ratio of -75.07, a price-to-earnings-growth ratio of 0.86 and a beta of 1.03. The business’s 50 day moving average is $16.15 and its 200-day moving average is $16.55. Utz Brands has a 1-year low of $13.36 and a 1-year high of $20.04.

Utz Brands (NYSE:UTZ) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $365.50 million during the quarter, compared to the consensus estimate of $363.98 million. Utz Brands had a negative net margin of 0.99% and a positive return on equity of 7.25%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 earnings per share. Equities research analysts predict that Utz Brands will post 0.74 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Cary Devore sold 30,000 shares of Utz Brands stock in a transaction on Monday, November 4th. The shares were sold at an average price of $17.32, for a total value of $519,600.00. Following the transaction, the executive vice president now directly owns 451,117 shares of the company’s stock, valued at $7,813,346.44. The trade was a 6.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $17.29, for a total value of $48,678,335.16. Following the transaction, the insider now directly owns 496,038 shares of the company’s stock, valued at $8,576,497.02. The trade was a 85.02 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 17.00% of the company’s stock.

Institutional Investors Weigh In On Utz Brands

Large investors have recently modified their holdings of the stock. Rhumbline Advisers increased its stake in shares of Utz Brands by 3.6% during the second quarter. Rhumbline Advisers now owns 99,286 shares of the company’s stock valued at $1,652,000 after purchasing an additional 3,466 shares in the last quarter. Choreo LLC bought a new position in shares of Utz Brands in the second quarter worth about $195,000. American Century Companies Inc. boosted its position in shares of Utz Brands by 10.9% during the second quarter. American Century Companies Inc. now owns 81,441 shares of the company’s stock worth $1,355,000 after acquiring an additional 7,981 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Utz Brands by 2.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 696,019 shares of the company’s stock valued at $11,582,000 after buying an additional 14,647 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Utz Brands in the second quarter worth $890,000. Institutional investors own 95.97% of the company’s stock.

Utz Brands Company Profile

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.