Utz Brands (NYSE:UTZ) Price Target Cut to $16.00 by Analysts at Barclays

Utz Brands (NYSE:UTZ - Get Free Report) had its target price decreased by research analysts at Barclays from $17.00 to $16.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's target price points to a potential upside of 26.68% from the company's previous close.

Several other research analysts also recently commented on UTZ. DA Davidson upgraded shares of Utz Brands from a "neutral" rating to a "buy" rating and set a $16.00 target price on the stock in a report on Thursday, April 24th. TD Cowen cut Utz Brands from a "buy" rating to a "hold" rating and cut their price objective for the stock from $17.00 to $15.00 in a research report on Tuesday, April 22nd. Finally, UBS Group lowered their target price on Utz Brands from $15.00 to $13.50 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.69.

Utz Brands Trading Down 0.9%

Shares of UTZ traded down $0.12 during midday trading on Friday, hitting $12.63. The stock had a trading volume of 120,376 shares, compared to its average volume of 956,096. The business has a 50-day simple moving average of $12.98 and a two-hundred day simple moving average of $13.76. The firm has a market cap of $1.79 billion, a P/E ratio of 39.50, a price-to-earnings-growth ratio of 1.51 and a beta of 1.18. The company has a current ratio of 1.32, a quick ratio of 0.91 and a debt-to-equity ratio of 0.61. Utz Brands has a fifty-two week low of $11.53 and a fifty-two week high of $18.89.

Utz Brands (NYSE:UTZ - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Utz Brands had a return on equity of 8.05% and a net margin of 1.94%. The business had revenue of $352.08 million during the quarter, compared to analysts' expectations of $345.44 million. During the same quarter last year, the firm posted $0.14 earnings per share. Utz Brands's revenue was up 1.6% compared to the same quarter last year. As a group, equities analysts forecast that Utz Brands will post 0.85 EPS for the current year.

Insider Activity

In other news, Director Timothy Brown acquired 5,000 shares of the firm's stock in a transaction on Monday, May 5th. The shares were purchased at an average cost of $11.96 per share, with a total value of $59,800.00. Following the completion of the purchase, the director now owns 67,573 shares of the company's stock, valued at $808,173.08. This represents a 7.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Jr. Werzyn bought 8,000 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average price of $11.81 per share, with a total value of $94,480.00. Following the purchase, the director now directly owns 22,970 shares of the company's stock, valued at $271,275.70. The trade was a 53.44% increase in their position. The disclosure for this purchase can be found here. 16.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd acquired a new position in shares of Utz Brands during the first quarter worth approximately $32,000. Tower Research Capital LLC TRC increased its stake in shares of Utz Brands by 112.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,697 shares of the company's stock valued at $121,000 after buying an additional 4,078 shares during the period. First Horizon Advisors Inc. raised its position in shares of Utz Brands by 44.8% during the first quarter. First Horizon Advisors Inc. now owns 7,887 shares of the company's stock worth $111,000 after acquiring an additional 2,441 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Utz Brands during the first quarter valued at $144,000. Finally, Freestone Grove Partners LP acquired a new position in shares of Utz Brands during the fourth quarter valued at $183,000. 95.97% of the stock is owned by 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.

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