Utz Brands (NYSE:UTZ) Stock Rating Upgraded by Zacks Investment Research

Utz Brands (NYSE:UTZGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Utz Brands Inc. manufactures a diverse portfolio of salty snacks under popular brands including Utz(R), Zapp’s(R), Golden Flake(R), Good Health(R), Boulder Canyon(R), Hawaiian Brand(R) and TORTIYAHS!(R). Utz Brands Inc., formerly known as Collier Creek, is based in New York, United States. “

A number of other equities research analysts also recently commented on UTZ. Credit Suisse Group downgraded Utz Brands from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $20.00 to $16.50 in a research report on Tuesday, April 12th. Oppenheimer downgraded Utz Brands from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 8th. Finally, Stephens downgraded Utz Brands from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $23.00 to $18.00 in a research report on Wednesday, January 19th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.17.

Shares of NYSE:UTZ traded down $0.18 on Wednesday, reaching $13.98. 10,729 shares of the company traded hands, compared to its average volume of 546,607. Utz Brands has a fifty-two week low of $12.06 and a fifty-two week high of $25.42. The company’s 50 day moving average is $14.50 and its 200-day moving average is $15.46. The stock has a market capitalization of $1.93 billion, a PE ratio of 48.21 and a beta of 0.64. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.53 and a quick ratio of 1.02.

Utz Brands (NYSE:UTZGet Rating) last announced its quarterly earnings data on Thursday, May 12th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Utz Brands had a return on equity of 5.20% and a net margin of 2.04%. The company had revenue of $340.80 million during the quarter, compared to the consensus estimate of $311.08 million. During the same quarter in the prior year, the firm earned $0.13 EPS. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. As a group, analysts expect that Utz Brands will post 0.5 EPS for the current year.

In other news, CEO Dylan Lissette acquired 7,374 shares of the business’s stock in a transaction that occurred on Monday, March 7th. The stock was acquired at an average cost of $13.77 per share, for a total transaction of $101,539.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Cary Devore bought 7,225 shares of the stock in a transaction on Monday, March 7th. The shares were acquired at an average cost of $13.83 per share, for a total transaction of $99,921.75. The disclosure for this purchase can be found here. Insiders bought 48,399 shares of company stock valued at $666,617 in the last 90 days. Corporate insiders own 17.26% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. increased its position in Utz Brands by 80.1% during the third quarter. Rockefeller Capital Management L.P. now owns 971,215 shares of the company’s stock worth $16,636,000 after buying an additional 431,933 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Utz Brands during the fourth quarter worth $34,695,000. Advisor Group Holdings Inc. increased its position in Utz Brands by 23.0% during the third quarter. Advisor Group Holdings Inc. now owns 18,303 shares of the company’s stock worth $313,000 after buying an additional 3,428 shares during the last quarter. Citigroup Inc. increased its position in Utz Brands by 93.2% during the third quarter. Citigroup Inc. now owns 8,511 shares of the company’s stock worth $146,000 after buying an additional 4,106 shares during the last quarter. Finally, UBS Group AG increased its position in Utz Brands by 17.4% during the third quarter. UBS Group AG now owns 545,978 shares of the company’s stock worth $9,353,000 after buying an additional 81,048 shares during the last quarter. 44.28% of the stock is currently owned by hedge funds and other institutional investors.

Utz Brands Company Profile (Get Rating)

Utz Brands, Inc operates as a snack food manufacturing company. It offers a range of salty snacks, including potato chips, kettle chips, tortilla chips, pretzels, cheese snacks, veggie snacks, pork skins, pub/party mixes, salsa and queso, ready-to-eat popcorn, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Good Health, Boulder Canyon, Hawaiian, TGIF, TORTIYAHS!, and other brand names.

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