Utz Brands (NYSE:UTZ) Shares Break Above 50 Day Moving Average - Time to Sell?

Key Points

• Utz Brands shares moved above their 50-day moving average, trading as high as $14.33 and last quoted at $14.275.
• Analyst sentiment is mostly cautious: the consensus rating is Hold, with an average price target of $13.39; nine analysts rate the stock Hold, one Buy, and one Sell.
• Quarterly results fell short of expectations: earnings were $0.10 per share versus $0.23 expected, and revenue of $369.2 million missed the $384.6 million consensus and declined 2.3% year over year.

Utz Brands, Inc. (NYSE:UTZ - Get Free Report)'s stock price crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $14.27 and traded as high as $14.33. Utz Brands shares last traded at $14.2750, with a volume of 4,084,422 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on UTZ shares. Barclays downgraded Utz Brands from an "overweight" rating to an "equal weight" rating and set a $14.00 target price on the stock. in a report on Tuesday, July 21st. Stephens set a $14.25 price target on Utz Brands in a research report on Tuesday, July 21st. Wall Street Zen downgraded shares of Utz Brands from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Piper Sandler cut shares of Utz Brands from an "overweight" rating to a "neutral" rating and lifted their target price for the stock from $10.00 to $14.25 in a report on Thursday, July 23rd. Finally, Jefferies Financial Group downgraded shares of Utz Brands from a "strong-buy" rating to a "hold" rating and set a $14.25 price target for the company. in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Utz Brands presently has a consensus rating of "Hold" and an average price target of $13.39.

Utz Brands Trading Up 0.2%

The stock has a fifty day moving average of $14.27 and a 200 day moving average of $10.61. The company has a market capitalization of $2.06 billion, a P/E ratio of -33.20 and a beta of 0.79. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.07.

Utz Brands (NYSE:UTZ - Get Free Report) last posted its quarterly earnings results on Friday, November 6th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.13). Utz Brands had a positive return on equity of 7.64% and a negative net margin of 2.67%. The business had revenue of $369.20 million during the quarter, compared to the consensus estimate of $384.60 million. During the same quarter in the previous year, the company earned $0.23 earnings per share. The company's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Utz Brands, Inc. will post 0.80 EPS for the current fiscal year.

Utz Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 21st were given 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 dividend yield of 1.8%. Utz Brands's payout ratio is currently -58.14%.

Institutional Investors Weigh In On Utz Brands

Several hedge funds and other institutional investors have recently modified their holdings of UTZ. Signaturefd LLC raised its position in shares of Utz Brands by 3,524.2% in the third quarter. Signaturefd LLC now owns 2,247 shares of the company's stock valued at $32,000 after buying an additional 2,185 shares during the last quarter. Hsbc Holdings PLC grew its stake in Utz Brands by 8.2% during the 1st quarter. Hsbc Holdings PLC now owns 30,021 shares of the company's stock valued at $231,000 after acquiring an additional 2,264 shares in the last quarter. GAMMA Investing LLC grew its stake in Utz Brands by 318.5% during the 3rd quarter. GAMMA Investing LLC now owns 3,783 shares of the company's stock valued at $54,000 after acquiring an additional 2,879 shares in the last quarter. Diversify Wealth Management LLC boosted its holdings in shares of Utz Brands by 23.6% during the 1st quarter. Diversify Wealth Management LLC now owns 20,628 shares of the company's stock worth $160,000 after purchasing an additional 3,936 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in shares of Utz Brands by 363.5% in the second quarter. Versant Capital Management Inc now owns 6,086 shares of the company's stock valued at $47,000 after purchasing an additional 4,773 shares in the last quarter. 95.97% of the stock is currently owned by hedge funds and other institutional investors.

Utz Brands Company Profile

Utz Brands, Inc. makes and markets snack foods, including potato chips, pretzels, tortilla chips, popcorn, pork rinds and cheese snacks. Its portfolio includes Utz, Zapp's, Boulder Canyon, On The Border and Golden Flake, among other brands. Founded in 1921 by William and Salie Utz in Hanover, Pennsylvania, the company began as a family-operated potato chip business and has grown through expansion and acquisitions. Utz is headquartered in Hanover. The company sells its products across the United States, with a longstanding presence in the eastern U.S. Its products reach consumers through grocery and convenience stores, mass retailers, club stores, and other retail and food-service channels.

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