Utz Brands (NYSE:UTZ) Releases Earnings Results

Utz Brands (NYSE:UTZ) announced its quarterly earnings data on Friday. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.13), Zacks reports. Utz Brands had a negative net margin of 2.00% and a positive return on equity of 8.97%. The firm had revenue of $369.20 million during the quarter, compared to analysts’ expectations of $384.60 million. During the same period in the prior year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was down 2.3% on a year-over-year basis.

Utz Brands Trading Down 0.2%

Shares of Utz Brands stock opened at $14.24 on Friday. The company has a fifty day simple moving average of $14.27 and a 200-day simple moving average of $10.51. Utz Brands has a 12-month low of $6.78 and a 12-month high of $14.36. The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 0.62. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of -33.13 and a beta of 0.79.

Utz Brands Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on UTZ. Stephens set a $14.25 price objective on shares of Utz Brands in a research report on Tuesday, July 21st. BTIG Research lowered Utz Brands from a “buy” rating to a “hold” rating in a report on Monday, July 27th. Jefferies Financial Group lowered Utz Brands from a “strong-buy” rating to a “hold” rating and set a $14.25 target price on the stock. in a report on Tuesday, July 21st. Piper Sandler cut Utz Brands from an “overweight” rating to a “neutral” rating and raised their price target for the company from $10.00 to $14.25 in a research note on Thursday, July 23rd. Finally, Wall Street Zen downgraded Utz Brands from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.39.

About Utz Brands

Utz Brands, Inc is a U.S.-based snack food company that manufactures, markets and distributes a broad portfolio of branded salty snacks. Its products include potato chips, tortilla chips, pretzels, cheese snacks, pork rinds, popcorn and other snack items sold through grocery stores, mass merchants, club stores, convenience stores and e-commerce channels.

The company’s brand portfolio includes Utz, Zapp’s, Boulder Canyon, On the Border, Golden Flake, Good Health and Hawaiian, among others.