Utz Brands, Inc. (NYSE:UTZ) Stock Has Average Target Price of $13.39 According to Analysts

Key Points

• Analysts maintain a “Hold” consensus on Utz Brands, with nine hold, one sell, and one buy rating among 11 brokerages. The average 12-month price target is $13.39, below the reported share price of $14.27.
• Institutional investors and hedge funds own 95.97% of UTZ; several firms increased their positions or initiated new stakes during the second quarter.
• Utz reported quarterly EPS of $0.19, slightly above the $0.18 consensus estimate, while revenue rose 1.4% year over year to $371.8 million. The company also pays a quarterly dividend of $0.063 per share, equivalent to an annualized yield of about 1.8%.

Utz Brands, Inc. (NYSE:UTZ - Get Free Report) has received a consensus rating of "Hold" from the eleven brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $13.39.

Several research analysts have issued reports on the stock. Wall Street Zen lowered shares of Utz Brands from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. DA Davidson reaffirmed a "neutral" rating and issued a $14.25 price objective (down from $15.00) on shares of Utz Brands in a research note on Wednesday, July 22nd. BTIG Research downgraded shares of Utz Brands from a "buy" rating to a "hold" rating in a research note on Monday, July 27th. Weiss Ratings restated a "sell (d)" rating on shares of Utz Brands in a report on Monday, September 21st. Finally, Stephens set a $14.25 price target on shares of Utz Brands in a research report on Tuesday, July 21st.

Hedge Funds Weigh In On Utz Brands

Several institutional investors have recently added to or reduced their stakes in UTZ. Engineers Gate Manager LP increased its stake in shares of Utz Brands by 127.9% in the 2nd quarter. Engineers Gate Manager LP now owns 117,107 shares of the company's stock valued at $902,000 after acquiring an additional 65,712 shares in the last quarter. Corient Private Wealth LP lifted its position in shares of Utz Brands by 61.0% during the 2nd quarter. Corient Private Wealth LP now owns 356,997 shares of the company's stock valued at $2,749,000 after acquiring an additional 135,239 shares during the period. AXQ Capital LP bought a new position in Utz Brands during the second quarter worth $80,000. Ancora Advisors LLC bought a new position in Utz Brands during the second quarter worth $1,068,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Utz Brands in the second quarter worth $14,462,000. 95.97% of the stock is owned by institutional investors and hedge funds.

Utz Brands Stock Down 0.0%

Shares of UTZ opened at $14.27 on Tuesday. The stock's 50-day moving average price is $14.20 and its two-hundred day moving average price is $10.11. Utz Brands has a 12 month low of $6.78 and a 12 month high of $14.33. The company has a market capitalization of $2.05 billion, a PE ratio of -43.23 and a beta of 0.72. The company has a current ratio of 1.06, a quick ratio of 0.69 and a debt-to-equity ratio of 0.62.

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

Utz Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, September 21st were paid a dividend of $0.0630 per share. The ex-dividend date of this dividend was Monday, September 21st. This represents a $0.25 annualized dividend and a yield of 1.8%. Utz Brands's dividend payout ratio (DPR) is currently -75.76%.

Utz Brands Company Profile

Utz Brands, Inc is a U.S.-based manufacturer and distributor of branded snack foods. The company produces and markets potato chips, tortilla chips, cheese snacks, pretzels, popcorn, pork snacks, and other salty snacks through a portfolio of brands that includes Utz, Zapp's, Boulder Canyon, Golden Flake, Bachman, and Tim's Cascade Snacks.

Utz products are sold through grocery stores, mass merchants, club stores, convenience stores, drugstores, and e-commerce channels. The company serves consumers primarily in the United States and distributes its snacks through a combination of direct-store delivery, warehouse distribution, and third-party arrangements.

Founded in 1921 by William and Salie Utz in Hanover, Pennsylvania, the company has expanded through organic growth and acquisitions of established regional snack businesses.

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