Utz Brands, Inc. (NYSE:UTZ) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts maintain a “Hold” consensus on Utz Brands, with nine hold ratings, one sell and one buy among 11 firms. The average 12-month price target is $13.39.
• Institutional investors own approximately 95.97% of UTZ shares, with several major firms—including Goldman Sachs and Royal Bank of Canada—increasing their positions.
• Utz reported quarterly EPS of $0.19, slightly above the $0.18 consensus, while revenue of $371.8 million fell short of expectations but increased 1.4% year over year.

Utz Brands, Inc. (NYSE:UTZ - Get Free Report) has been given an average rating of "Hold" by the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $13.3864.

A number of brokerages recently commented on UTZ. Stephens set a $14.25 price objective on shares of Utz Brands in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Utz Brands in a research note on Wednesday, June 24th. DA Davidson reiterated a "neutral" rating and set a $14.25 target price (down from $15.00) on shares of Utz Brands in a report on Wednesday, July 22nd. BTIG Research downgraded Utz Brands from a "buy" rating to a "hold" rating in a research note on Monday, July 27th. Finally, Piper Sandler restated a "neutral" rating and issued a $14.25 price target (up from $10.00) on shares of Utz Brands in a report on Thursday, July 23rd.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in UTZ. Royal Bank of Canada boosted its stake in shares of Utz Brands by 39.7% during the 1st quarter. Royal Bank of Canada now owns 248,912 shares of the company's stock worth $3,504,000 after buying an additional 70,739 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Utz Brands by 5.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,470 shares of the company's stock worth $556,000 after acquiring an additional 2,190 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Utz Brands by 40.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,022,709 shares of the company's stock valued at $28,480,000 after acquiring an additional 585,952 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Utz Brands by 36.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 196,013 shares of the company's stock valued at $2,760,000 after acquiring an additional 52,285 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Utz Brands by 10.0% in the 2nd quarter. Legal & General Group Plc now owns 77,578 shares of the company's stock valued at $974,000 after acquiring an additional 7,073 shares during the period. Institutional investors own 95.97% of the company's stock.

Utz Brands Price Performance

Shares of UTZ stock opened at $14.23 on Friday. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -43.14 and a beta of 0.76. Utz Brands has a 12-month low of $6.78 and a 12-month high of $14.27. The company has a quick ratio of 0.69, a current ratio of 1.06 and a debt-to-equity ratio of 0.62. The firm has a fifty day moving average of $12.62 and a 200-day moving average of $9.42.

Utz Brands (NYSE:UTZ - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. Utz Brands had a positive return on equity of 8.97% and a negative net margin of 2.00%.The firm had revenue of $371.80 million during the quarter, compared to analysts' expectations of $374.18 million. During the same period in the previous year, the firm earned $0.17 earnings per share. The company's revenue was up 1.4% on a year-over-year basis. On average, equities research analysts forecast that Utz Brands will post 0.8 earnings per share for the current year.

Utz Brands Company Profile

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.

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