TD Cowen Lowers Utz Brands (NYSE:UTZ) Price Target to $17.00

Utz Brands (NYSE:UTZ) had its target price cut by analysts at TD Cowen from $21.00 to $17.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price target indicates a potential upside of 20.06% from the stock’s current price.

Several other equities analysts also recently weighed in on UTZ. Mizuho reduced their target price on Utz Brands from $24.00 to $21.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Piper Sandler upped their price objective on shares of Utz Brands from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Utz Brands currently has a consensus rating of “Moderate Buy” and an average target price of $20.80.

Utz Brands Stock Performance

Utz Brands stock opened at $14.16 on Wednesday. Utz Brands has a fifty-two week low of $13.46 and a fifty-two week high of $20.04. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of -74.53, a PEG ratio of 1.18 and a beta of 1.03. The stock has a fifty day moving average of $16.51 and a two-hundred day moving average of $16.66. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 1.21.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The firm had revenue of $365.50 million during the quarter, compared to analysts’ expectations of $363.98 million. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 EPS. On average, analysts anticipate that Utz Brands will post 0.74 EPS for the current fiscal year.

Insider Buying and Selling at Utz Brands

In other Utz Brands news, EVP Cary Devore sold 30,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was 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. This trade represents a 6.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $17.29, for a total value of $48,678,335.16. Following the completion of the sale, 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. 17.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Utz Brands

A number of hedge funds have recently made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new position in shares of Utz Brands in the second quarter valued at $80,000. nVerses Capital LLC acquired a new position in Utz Brands in the 3rd quarter worth $142,000. XTX Topco Ltd purchased a new position in Utz Brands in the 2nd quarter valued at about $185,000. MQS Management LLC acquired a new stake in shares of Utz Brands during the second quarter valued at about $187,000. Finally, Choreo LLC purchased a new stake in shares of Utz Brands during the second quarter worth about $195,000. Hedge funds and other institutional investors own 95.97% of the company’s stock.

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.