Brokerages Set Utz Brands, Inc. (NYSE:UTZ) Target Price at $18.56

Utz Brands, Inc. (NYSE:UTZ - Get Free Report) has received a consensus rating of "Moderate Buy" from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $17.81.

A number of analysts recently commented on the stock. UBS Group dropped their target price on shares of Utz Brands from $15.00 to $13.50 and set a "neutral" rating on the stock in a report on Friday. Royal Bank of Canada dropped their price target on Utz Brands from $23.00 to $20.00 and set an "outperform" rating on the stock in a report on Monday, February 24th. TD Cowen downgraded Utz Brands from a "buy" rating to a "hold" rating and cut their price objective for the company from $17.00 to $15.00 in a research report on Tuesday, April 22nd. Piper Sandler decreased their target price on Utz Brands from $24.00 to $20.00 and set an "overweight" rating on the stock in a report on Thursday, January 16th. Finally, DA Davidson raised Utz Brands from a "neutral" rating to a "buy" rating and set a $16.00 target price for the company in a report on Thursday, April 24th.

Utz Brands Price Performance

UTZ traded down $0.23 during trading on Tuesday, reaching $11.91. The stock had a trading volume of 2,899,680 shares, compared to its average volume of 892,368. The stock has a 50 day moving average of $13.54 and a two-hundred day moving average of $14.83. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 66.17, a price-to-earnings-growth ratio of 0.86 and a beta of 1.20. Utz Brands has a 1-year low of $11.71 and a 1-year high of $19.64.

Utz Brands (NYSE:UTZ - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $352.08 million during the quarter, compared to analyst estimates of $345.44 million. Utz Brands had a return on equity of 7.92% and a net margin of 1.13%. The company's revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.14 earnings per share. As a group, equities analysts anticipate that Utz Brands will post 0.85 EPS for the current fiscal year.

Utz Brands Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Monday, April 7th were given a dividend of $0.011 per share. This represents a $0.04 annualized dividend and a yield of 0.37%. The ex-dividend date was Monday, April 7th. Utz Brands's payout ratio is 75.00%.

Insiders Place Their Bets

In other news, insider Cc Collier Holdings, Llc sold 496,038 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $13.40, for a total value of $6,646,909.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Howard A. Friedman acquired 3,525 shares of Utz Brands stock in a transaction that occurred on Monday, February 24th. The shares were purchased at an average cost of $14.16 per share, with a total value of $49,914.00. Following the transaction, the chief executive officer now owns 265,729 shares of the company's stock, valued at approximately $3,762,722.64. The trade was a 1.34 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 16.32% of the company's stock.

Institutional Investors Weigh In On Utz Brands

Hedge funds and other institutional investors have recently made changes to their positions in the company. Newton One Investments LLC acquired a new position in Utz Brands in the fourth quarter worth approximately $26,000. Venturi Wealth Management LLC acquired a new stake in Utz Brands in the 4th quarter worth approximately $54,000. Tower Research Capital LLC TRC boosted its holdings in shares of Utz Brands by 112.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,697 shares of the company's stock worth $121,000 after buying an additional 4,078 shares during the period. First Horizon Advisors Inc. boosted its holdings in Utz Brands by 44.8% during the first quarter. First Horizon Advisors Inc. now owns 7,887 shares of the company's stock valued at $111,000 after acquiring an additional 2,441 shares during the period. Finally, Teacher Retirement System of Texas acquired a new stake in Utz Brands in the 1st quarter valued at approximately $144,000. 95.97% of the stock is owned by hedge funds and other institutional investors.

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.