Utz Brands, Inc. (NYSE:UTZ) Receives $13.39 Average Target Price from Analysts

Shares of Utz Brands, Inc. (NYSE:UTZ) have received an average recommendation of “Hold” from the eleven analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $13.3864.

UTZ has been the topic of a number of recent research reports. DA Davidson reaffirmed a “neutral” rating and issued a $14.25 price objective (down from $15.00) on shares of Utz Brands in a research note on Wednesday, July 22nd. Barclays cut shares of Utz Brands from an “overweight” rating to an “equal weight” rating and set a $14.00 target price for the company. in a research report on Tuesday, July 21st. UBS Group reissued a “neutral” rating and issued a $14.25 price target on shares of Utz Brands in a research note on Wednesday, July 22nd. Jefferies Financial Group lowered Utz Brands from a “strong-buy” rating to a “hold” rating and set a $14.25 price target on the stock. in a research report on Tuesday, July 21st. Finally, Wall Street Zen lowered Utz Brands from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th.

Utz Brands Stock Performance

Shares of NYSE:UTZ opened at $14.13 on Monday. The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 0.62. Utz Brands has a 1-year low of $6.78 and a 1-year high of $14.19. The stock has a market capitalization of $2.03 billion, a P/E ratio of -42.82 and a beta of 0.73. The business has a 50-day moving average price of $10.71 and a two-hundred day moving average price of $9.00.

Utz Brands (NYSE:UTZ) last issued its earnings results on Wednesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, beating 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 company had revenue of $371.80 million for the quarter, compared to analyst estimates of $374.18 million. During the same quarter last year, the firm earned $0.17 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. Equities analysts predict that Utz Brands will post 0.8 earnings per share for the current year.

Utz Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Monday, June 22nd were issued a dividend of $0.063 per share. The ex-dividend date was Monday, June 22nd. This represents a $0.25 dividend on an annualized basis and a yield of 1.8%. Utz Brands’s dividend payout ratio (DPR) is -75.76%.

Hedge Funds Weigh In On Utz Brands

Several institutional investors have recently modified their holdings of UTZ. AXQ Capital LP bought a new stake in shares of Utz Brands in the 2nd quarter valued at about $80,000. Ancora Advisors LLC bought a new position in Utz Brands during the 2nd quarter worth approximately $1,068,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Utz Brands during the second quarter valued at approximately $14,462,000. Bank of New York Mellon Corp acquired a new position in Utz Brands during the second quarter valued at approximately $1,701,000. Finally, Versant Capital Management Inc increased its stake in Utz Brands by 363.5% in the second quarter. Versant Capital Management Inc now owns 6,086 shares of the company’s stock valued at $47,000 after purchasing an additional 4,773 shares in the last quarter. 95.97% of the stock is currently owned by institutional investors and hedge funds.

About Utz Brands

Utz Brands, Inc is a leading U.S. manufacturer and distributor of salty snack foods, offering a wide range of products including potato chips, pretzels, cheese snacks, popcorn and tortilla chips. Headquartered in Hanover, Pennsylvania, the company markets its snacks under several well-known brands and serves grocery, mass merchandise, club, convenience and online retailers throughout the United States.

Founded in 1921 by Bill and Salie Utz as a small country store operation, the business expanded gradually through direct delivery to local customers and sales to regional grocers.