Utz Brands (NYSE:UTZ) Downgraded to “Hold” Rating by TD Cowen

Utz Brands (NYSE:UTZ) was downgraded by research analysts at TD Cowen from a “buy” rating to a “hold” rating in a research note issued on Tuesday,Finviz reports. They presently have a $15.00 price target on the stock. TD Cowen’s price target would indicate a potential upside of 8.77% from the stock’s previous close.

UTZ has been the subject of a number of other research reports. Piper Sandler reduced their target price on Utz Brands from $24.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Barclays cut their price objective on Utz Brands from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. DA Davidson decreased their price target on shares of Utz Brands from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Royal Bank of Canada lowered their price objective on shares of Utz Brands from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. Finally, Mizuho lowered their price target on Utz Brands from $21.00 to $19.00 and set an “outperform” rating on the stock in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Utz Brands Stock Performance

UTZ stock opened at $13.79 on Tuesday. 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 has a 1 year low of $12.15 and a 1 year high of $20.04. The stock’s fifty day moving average is $13.65 and its two-hundred day moving average is $15.09. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 76.61, a PEG ratio of 0.86 and a beta of 1.10.

Utz Brands (NYSE:UTZ) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. Utz Brands had a return on equity of 7.92% and a net margin of 1.13%. The firm had revenue of $341.05 million during the quarter, compared to analyst estimates of $349.93 million. During the same period last year, the company posted $0.16 EPS. On average, research analysts predict that Utz Brands will post 0.85 EPS for the current year.

Insider Transactions at Utz Brands

In other news, CEO Howard A. Friedman acquired 3,525 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were acquired at an average cost of $14.16 per share, with a total value of $49,914.00. Following the completion of the purchase, the chief executive officer now directly owns 265,729 shares of the company’s stock, valued at $3,762,722.64. The trade was a 1.34 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Cc Collier Holdings, Llc sold 496,038 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $13.40, for a total transaction of $6,646,909.20. The disclosure for this sale can be found here. 16.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Utz Brands

Several hedge funds have recently added to or reduced their stakes in UTZ. Simon Quick Advisors LLC boosted its holdings in shares of Utz Brands by 9.7% during the 1st quarter. Simon Quick Advisors LLC now owns 15,967 shares of the company’s stock worth $225,000 after buying an additional 1,411 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Utz Brands by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,280 shares of the company’s stock worth $584,000 after acquiring an additional 1,596 shares in the last quarter. Newton One Investments LLC bought a new position in shares of Utz Brands during the 4th quarter worth approximately $26,000. Rhumbline Advisers lifted its holdings in Utz Brands by 1.9% during the fourth quarter. Rhumbline Advisers now owns 95,103 shares of the company’s stock worth $1,489,000 after acquiring an additional 1,757 shares during the period. Finally, LPL Financial LLC raised its stake in shares of Utz Brands by 4.7% during the 4th quarter. LPL Financial LLC now owns 39,879 shares of the company’s stock worth $624,000 after purchasing an additional 1,789 shares during the period. 95.97% of the stock is currently owned by institutional investors and hedge funds.

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.