Utz Brands (NYSE:UTZ) Given New $24.00 Price Target at Piper Sandler

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

Other equities research analysts also recently issued reports about the company. Barclays lowered their target price on Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, July 19th. Needham & Company LLC reissued a “buy” rating and set a $22.00 target price on shares of Utz Brands in a research note on Friday, August 2nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Utz Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.10.

Utz Brands Price Performance

UTZ stock traded up $0.13 during midday trading on Friday, reaching $17.35. The company had a trading volume of 1,094,157 shares, compared to its average volume of 759,776. The stock has a 50 day moving average price of $17.31 and a 200-day moving average price of $17.24. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of -91.32, a price-to-earnings-growth ratio of 1.11 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.69 and a quick ratio of 1.21. Utz Brands has a 1-year low of $11.67 and a 1-year high of $20.04.

Utz Brands (NYSE:UTZ) last posted its 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. Utz Brands had a net margin of 0.29% and a return on equity of 6.79%. The firm had revenue of $365.50 million for the quarter, compared to analysts’ expectations of $363.98 million. During the same quarter in the previous year, the firm posted $0.17 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. Equities research analysts expect that Utz Brands will post 0.74 earnings per share for the current year.

Utz Brands Dividend Announcement

The business also recently announced a None dividend, which was paid on Thursday, October 3rd. Stockholders of record on Monday, September 16th were issued a $0.011 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a dividend yield of 1.3%. Utz Brands’s dividend payout ratio is presently -121.05%.

Insider Buying and Selling

In other news, Director Bruce John Lindeman purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $16.11 per share, with a total value of $64,440.00. Following the completion of the transaction, the director now directly owns 42,480 shares of the company’s stock, valued at approximately $684,352.80. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 17.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of UTZ. Smith Group Asset Management LLC boosted its holdings in shares of Utz Brands by 24.2% in the 3rd quarter. Smith Group Asset Management LLC now owns 27,093 shares of the company’s stock worth $480,000 after buying an additional 5,278 shares during the last quarter. Legacy Wealth Asset Management LLC grew its position in shares of Utz Brands by 11.6% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 40,176 shares of the company’s stock valued at $711,000 after acquiring an additional 4,182 shares during the period. nVerses Capital LLC purchased a new stake in shares of Utz Brands during the 3rd quarter worth approximately $142,000. SG Americas Securities LLC raised its holdings in shares of Utz Brands by 279.2% in the 3rd quarter. SG Americas Securities LLC now owns 23,510 shares of the company’s stock worth $416,000 after purchasing an additional 17,310 shares during the period. Finally, Truist Financial Corp lifted its stake in Utz Brands by 20.8% in the second quarter. Truist Financial Corp now owns 24,209 shares of the company’s stock valued at $403,000 after purchasing an additional 4,176 shares during the last quarter. Institutional investors own 95.97% of the company’s stock.

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.