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

Utz Brands (NYSE:UTZ) had its price target cut by analysts at TD Cowen from $21.00 to $17.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective suggests a potential upside of 21.69% from the stock’s current price.

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

Utz Brands Trading Down 3.6 %

UTZ stock traded down $0.52 during trading on Wednesday, hitting $13.97. The company had a trading volume of 1,084,079 shares, compared to its average volume of 923,781. The firm has a 50-day moving average price of $16.61 and a 200-day moving average price of $16.69. Utz Brands has a 12 month low of $13.46 and a 12 month high of $20.04. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.56. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -73.53, a PEG ratio of 1.18 and a beta of 1.03.

Utz Brands (NYSE:UTZ) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate 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 positive return on equity of 7.25% and a negative net margin of 0.99%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 earnings per share. As a group, analysts predict that Utz Brands will post 0.74 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 496,038 shares in the company, valued at approximately $8,576,497.02. This represents a 85.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Cary Devore sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $17.32, for a total value of $519,600.00. Following the completion of the transaction, the executive vice president now owns 451,117 shares of the company’s stock, valued at approximately $7,813,346.44. This represents a 6.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new position in shares of Utz Brands in the second quarter valued at about $80,000. nVerses Capital LLC bought a new position in Utz Brands in the 3rd quarter valued at about $142,000. XTX Topco Ltd bought a new stake in shares of Utz Brands during the second quarter worth approximately $185,000. MQS Management LLC acquired a new position in shares of Utz Brands in the second quarter valued at approximately $187,000. Finally, Choreo LLC bought a new position in shares of Utz Brands during the second quarter worth approximately $195,000. 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.