TD Cowen Lowers Utz Brands (NYSE:UTZ) Price Target to $17.00

Utz Brands (NYSE:UTZ) had its price objective cut by analysts at TD Cowen from $21.00 to $17.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s target price would indicate a potential upside of 20.06% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Piper Sandler lifted their target price on Utz Brands from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Mizuho reduced their price objective on Utz Brands from $24.00 to $21.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.80.

Utz Brands Trading Down 2.3 %

NYSE UTZ opened at $14.16 on Wednesday. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of -74.53, a price-to-earnings-growth ratio of 1.18 and a beta of 1.03. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85. Utz Brands has a 12 month low of $13.46 and a 12 month high of $20.04. The company’s fifty day moving average price is $16.51 and its two-hundred day moving average price is $16.66.

Utz Brands (NYSE:UTZ) last issued its earnings results on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $365.50 million for the quarter, compared to analyst estimates of $363.98 million. Utz Brands had a negative net margin of 0.99% and a positive return on equity of 7.25%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.17 EPS. As a group, research analysts predict that Utz Brands will post 0.74 earnings per share for the current fiscal year.

Insider Transactions at Utz Brands

In other Utz Brands news, EVP Cary Devore sold 30,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $17.32, for a total transaction of $519,600.00. Following the transaction, the executive vice president now owns 451,117 shares of the company’s stock, valued at approximately $7,813,346.44. This trade represents a 6.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $17.29, for a total transaction of $48,678,335.16. Following the completion of the sale, the insider now directly owns 496,038 shares of the company’s stock, valued at approximately $8,576,497.02. This represents a 85.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On Utz Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of Utz Brands by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 446,918 shares of the company’s stock valued at $7,437,000 after buying an additional 11,492 shares during the period. Principal Financial Group Inc. bought a new stake in Utz Brands in the second quarter worth about $914,000. Rhumbline Advisers lifted its holdings in Utz Brands by 3.6% in the 2nd quarter. Rhumbline Advisers now owns 99,286 shares of the company’s stock valued at $1,652,000 after acquiring an additional 3,466 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Utz Brands by 22.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,238,425 shares of the company’s stock valued at $20,607,000 after purchasing an additional 223,462 shares in the last quarter. Finally, Choreo LLC bought a new position in shares of Utz Brands during the 2nd quarter valued at about $195,000. 95.97% of the stock is owned by institutional investors.

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.