Utz Brands (NYSE:UTZ) Shares Gap Up - What's Next?

Key Points

• Utz Brands shares gapped up sharply before the market open, jumping from a prior close of $7.45 to an opening price of $14.08, with heavy early trading volume.
• Analyst sentiment is mixed but leans positive: the stock currently carries a “Moderate Buy” consensus and an average price target of $12.00, though recent target cuts and a sell rating show some caution.
• The company recently beat earnings estimates by posting $0.15 EPS versus the expected $0.14, while revenue came in roughly in line with forecasts and rose 2.6% year over year.

Utz Brands, Inc. (NYSE:UTZ - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $7.45, but opened at $14.08. Utz Brands shares last traded at $14.0750, with a volume of 30,105,461 shares.

Analysts Set New Price Targets

Several research analysts have recently weighed in on UTZ shares. Royal Bank Of Canada set a $15.00 price target on shares of Utz Brands in a research report on Thursday, April 9th. Weiss Ratings restated a "sell (d)" rating on shares of Utz Brands in a research report on Wednesday, June 24th. TD Cowen reduced their target price on shares of Utz Brands from $11.00 to $9.00 and set a "hold" rating on the stock in a research note on Monday, April 20th. BTIG Research started coverage on shares of Utz Brands in a report on Monday, April 13th. They issued a "buy" rating and a $10.00 target price on the stock. Finally, Barclays dropped their price target on shares of Utz Brands from $12.00 to $10.00 and set an "overweight" rating for the company in a research note on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $12.00.

Utz Brands Price Performance

The stock has a market cap of $2.03 billion, a price-to-earnings ratio of -140.84, a P/E/G ratio of 2.63 and a beta of 0.82. The company has a current ratio of 1.14, a quick ratio of 0.75 and a debt-to-equity ratio of 0.62. The company's fifty day moving average is $7.42 and its two-hundred day moving average is $8.35.

Utz Brands (NYSE:UTZ - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.01. Utz Brands had a positive return on equity of 8.61% and a negative net margin of 0.58%.The company had revenue of $361.30 million for the quarter, compared to analysts' expectations of $361.76 million. During the same period in the prior year, the firm earned $0.16 earnings per share. The firm's revenue was up 2.6% compared to the same quarter last year. Utz Brands has set its FY 2026 guidance at 0.771-0.795 EPS. As a group, research analysts predict that Utz Brands, Inc. will post 0.78 earnings per share for the current year.

Utz Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Monday, June 22nd were paid a dividend of $0.063 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $0.25 annualized dividend and a yield of 1.8%. Utz Brands's dividend payout ratio is presently -250.00%.

Hedge Funds Weigh In On Utz Brands

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Utz Brands by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 7,679,985 shares of the company's stock worth $79,718,000 after purchasing an additional 252,876 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Utz Brands by 7.3% in the second quarter. Ameriprise Financial Inc. now owns 6,085,250 shares of the company's stock valued at $76,370,000 after purchasing an additional 413,493 shares in the last quarter. Copeland Capital Management LLC grew its holdings in shares of Utz Brands by 17.8% in the first quarter. Copeland Capital Management LLC now owns 4,063,561 shares of the company's stock valued at $32,183,000 after purchasing an additional 613,699 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in Utz Brands by 42.3% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,946,512 shares of the company's stock worth $36,979,000 after buying an additional 875,847 shares during the period. Finally, Alyeska Investment Group L.P. increased its stake in Utz Brands by 105.2% during the 4th quarter. Alyeska Investment Group L.P. now owns 2,414,791 shares of the company's stock worth $25,066,000 after buying an additional 1,238,180 shares during the period. 95.97% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.