Utz Brands, Inc. (NYSE:UTZ) Stock Has Average Target Price of $13.39 According to Brokerages

Shares of Utz Brands, Inc. (NYSE:UTZ) have earned a consensus rating of “Hold” from the eleven ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $13.39.

UTZ has been the subject of several research reports. Wall Street Zen lowered shares of Utz Brands from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Piper Sandler reaffirmed a “neutral” rating and issued a $14.25 price objective (up from $10.00) on shares of Utz Brands in a research note on Thursday, July 23rd. UBS Group reiterated a “neutral” rating and issued a $14.25 target price on shares of Utz Brands in a report on Wednesday, July 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Utz Brands in a report on Monday, September 21st. Finally, Stephens set a $14.25 target price on shares of Utz Brands in a research note on Tuesday, July 21st.

Utz Brands Price Performance

NYSE:UTZ opened at $14.30 on Tuesday. The business’s 50-day moving average price is $14.21 and its 200 day moving average price is $10.27. The firm has a market cap of $2.06 billion, a P/E ratio of -43.35 and a beta of 0.72. Utz Brands has a 52-week low of $6.78 and a 52-week high of $14.33. The company has a quick ratio of 0.69, a current ratio of 1.06 and a debt-to-equity ratio of 0.62.

Utz Brands (NYSE:UTZ) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. Utz Brands had a negative net margin of 2.00% and a positive return on equity of 8.97%. The firm had revenue of $371.80 million for the quarter, compared to analysts’ expectations of $374.18 million. During the same period in the previous year, the business earned $0.17 earnings per share. Utz Brands’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, sell-side analysts predict that Utz Brands will post 0.80 earnings per share for the current fiscal year.

Utz Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 21st were given a $0.0630 dividend. The ex-dividend date was Monday, September 21st. This represents a $0.25 annualized dividend and a yield of 1.8%. Utz Brands’s payout ratio is -75.76%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in shares of Utz Brands by 318.5% during the 3rd quarter. GAMMA Investing LLC now owns 3,783 shares of the company’s stock worth $54,000 after acquiring an additional 2,879 shares in the last quarter. Engineers Gate Manager LP grew its holdings in shares of Utz Brands by 127.9% in the 2nd quarter. Engineers Gate Manager LP now owns 117,107 shares of the company’s stock worth $902,000 after acquiring an additional 65,712 shares during the last quarter. Corient Private Wealth LP grew its holdings in shares of Utz Brands by 61.0% in the 2nd quarter. Corient Private Wealth LP now owns 356,997 shares of the company’s stock worth $2,749,000 after acquiring an additional 135,239 shares during the last quarter. AXQ Capital LP acquired a new position in shares of Utz Brands in the 2nd quarter worth $80,000. Finally, Ancora Advisors LLC acquired a new stake in shares of Utz Brands during the second quarter worth $1,068,000. Institutional investors own 95.97% of the company’s stock.

About Utz Brands

Utz Brands, Inc is a U.S.-based manufacturer and distributor of branded snack foods. The company produces and markets potato chips, tortilla chips, cheese snacks, pretzels, popcorn, pork snacks, and other salty snacks through a portfolio of brands that includes Utz, Zapp’s, Boulder Canyon, Golden Flake, Bachman, and Tim’s Cascade Snacks.

Utz products are sold through grocery stores, mass merchants, club stores, convenience stores, drugstores, and e-commerce channels. The company serves consumers primarily in the United States and distributes its snacks through a combination of direct-store delivery, warehouse distribution, and third-party arrangements.

Founded in 1921 by William and Salie Utz in Hanover, Pennsylvania, the company has expanded through organic growth and acquisitions of established regional snack businesses.