Utz Brands (NYSE:UTZ) Price Target Raised to $24.00

Utz Brands (NYSE:UTZ) had its target price upped by Piper Sandler from $22.00 to $24.00 in a report released on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $22.00 price target on shares of Utz Brands in a report on Friday, August 2nd. Barclays cut their target price on Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $21.10.

Utz Brands Trading Up 0.8 %

Shares of UTZ opened at $17.35 on Friday. Utz Brands has a 52-week low of $11.67 and a 52-week high of $20.04. The stock has a market cap of $2.44 billion, a PE ratio of -91.32, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01. The firm’s fifty day moving average is $17.31 and its two-hundred day moving average is $17.24. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.57.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The firm 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 7.24%. Utz Brands’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 earnings per share. Research analysts forecast that Utz Brands will post 0.74 earnings per share for the current fiscal year.

Utz Brands Announces Dividend

The firm also recently disclosed a None dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were given a dividend of $0.011 per share. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, September 16th. Utz Brands’s payout ratio is -126.32%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Fifth Third Bancorp purchased a new stake in shares of Utz Brands in the 2nd quarter valued at approximately $44,000. Canada Pension Plan Investment Board acquired a new stake in Utz Brands in the 2nd quarter valued at approximately $80,000. SG Americas Securities LLC purchased a new stake in Utz Brands in the second quarter valued at approximately $103,000. nVerses Capital LLC acquired a new position in Utz Brands during the third quarter worth $142,000. Finally, XTX Topco Ltd purchased a new position in shares of Utz Brands during the second quarter worth $185,000. Institutional investors and hedge funds own 95.97% of the company’s stock.

Utz Brands Company Profile

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.