Utz Brands (NYSE:UTZ) PT Raised to $24.00

Utz Brands (NYSE:UTZ) had its target price hoisted by stock analysts at Mizuho from $22.00 to $24.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Mizuho’s price target would indicate a potential upside of 24.74% from the company’s current price.

Several other research firms have also weighed in on UTZ. Bank of America raised shares of Utz Brands from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $19.00 to $22.00 in a research note on Thursday, March 14th. DA Davidson started coverage on Utz Brands in a report on Friday, March 1st. They issued a “neutral” rating and a $20.00 price target for the company. Piper Sandler lifted their price objective on Utz Brands from $18.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Needham & Company LLC increased their target price 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 lifted their price target on shares of Utz Brands from $13.00 to $17.00 and gave the company a “hold” rating in a research note on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.83.

Utz Brands Price Performance

UTZ opened at $19.24 on Friday. The company has a fifty day moving average price of $18.01 and a two-hundred day moving average price of $16.16. The firm has a market capitalization of $2.71 billion, a PE ratio of -76.96, a P/E/G ratio of 1.72 and a beta of 0.97. Utz Brands has a 52 week low of $11.17 and a 52 week high of $20.04. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.97 and a current ratio of 1.42.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Utz Brands had a positive return on equity of 6.13% and a negative net margin of 1.38%. The business had revenue of $346.50 million during the quarter, compared to analysts’ expectations of $346.99 million. During the same period in the previous year, the firm earned $0.11 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, analysts anticipate that Utz Brands will post 0.69 earnings per share for the current year.

Insider Activity

In other news, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of Utz Brands stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $17.40, for a total value of $7,764,750.00. Following the sale, the insider now directly owns 397,885 shares in the company, valued at $6,923,199. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 397,885 shares in the company, valued at $6,923,199. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Roger K. Deromedi sold 32,052 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $19.10, for a total transaction of $612,193.20. Following the transaction, the director now owns 3,516,652 shares in the company, valued at $67,168,053.20. The disclosure for this sale can be found here. Insiders have sold 609,181 shares of company stock worth $10,754,925 over the last ninety days. Insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On Utz Brands

A number of institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC increased its holdings in Utz Brands by 15.2% during the first quarter. Jennison Associates LLC now owns 1,331,581 shares of the company’s stock worth $24,554,000 after buying an additional 175,956 shares during the last quarter. Diversify Advisory Services LLC bought a new position in Utz Brands during the first quarter worth $359,000. Norden Group LLC bought a new position in Utz Brands during the first quarter worth $620,000. Verdence Capital Advisors LLC boosted its position in Utz Brands by 45.3% during the first quarter. Verdence Capital Advisors LLC now owns 22,746 shares of the company’s stock worth $419,000 after purchasing an additional 7,091 shares during the period. Finally, AMI Asset Management Corp boosted its position in Utz Brands by 7.3% during the first quarter. AMI Asset Management Corp now owns 208,465 shares of the company’s stock worth $3,844,000 after purchasing an additional 14,264 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.