Utz Brands (NYSE:UTZ) Price Target Raised to $24.00

Utz Brands (NYSE:UTZ) had its target price lifted by equities researchers at Mizuho from $22.00 to $24.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Mizuho’s price objective suggests a potential upside of 24.74% from the stock’s previous close.

A number of other research firms have also recently commented on UTZ. Piper Sandler lifted their target price on Utz Brands from $18.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Needham & Company LLC lifted their target price on Utz Brands from $20.50 to $22.00 and gave the stock a “buy” rating in a research note on Friday. DA Davidson began coverage on Utz Brands in a research note on Friday, March 1st. They set a “neutral” rating and a $20.00 target price on the stock. Bank of America upgraded Utz Brands from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $19.00 to $22.00 in a research note on Thursday, March 14th. Finally, Truist Financial lifted their target price on Utz Brands from $13.00 to $17.00 and gave the stock a “hold” rating in a research note on Monday, March 4th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.83.

Utz Brands Price Performance

UTZ opened at $19.24 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.42 and a quick ratio of 0.97. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of -76.96, a P/E/G ratio of 1.72 and a beta of 0.97. The firm’s fifty day moving average price is $18.01 and its two-hundred day moving average price is $16.16. Utz Brands has a 1 year low of $11.17 and a 1 year high of $20.04.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $346.50 million for the quarter, compared to the consensus estimate of $346.99 million. Utz Brands had a negative net margin of 1.38% and a positive return on equity of 6.13%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.11 EPS. As a group, analysts anticipate that Utz Brands will post 0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Utz Brands

In other Utz Brands news, Director Roger K. Deromedi sold 3,785 shares of Utz Brands stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $19.13, for a total transaction of $72,407.05. Following the completion of the transaction, the director now owns 3,399,470 shares of the company’s stock, valued at approximately $65,031,861.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Utz Brands news, Director Roger K. Deromedi sold 3,785 shares of Utz Brands stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $19.13, for a total transaction of $72,407.05. Following the completion of the transaction, the director now owns 3,399,470 shares of the company’s stock, valued at approximately $65,031,861.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of Utz Brands stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $17.40, for a total value of $7,764,750.00. Following the transaction, the insider now directly owns 397,885 shares of the company’s stock, valued at approximately $6,923,199. The disclosure for this sale can be found here. Insiders sold 609,181 shares of company stock valued at $10,754,925 in the last quarter. 17.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. SRS Capital Advisors Inc. grew its holdings in shares of Utz Brands by 120.2% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,464 shares of the company’s stock worth $56,000 after purchasing an additional 1,891 shares in the last quarter. Delta Asset Management LLC TN grew its holdings in shares of Utz Brands by 100.0% during the fourth quarter. Delta Asset Management LLC TN now owns 5,000 shares of the company’s stock worth $81,000 after purchasing an additional 2,500 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Utz Brands by 1,428.8% during the fourth quarter. International Assets Investment Management LLC now owns 5,473 shares of the company’s stock worth $89,000 after purchasing an additional 5,115 shares in the last quarter. Sherbrooke Park Advisers LLC purchased a new position in shares of Utz Brands during the third quarter worth about $136,000. Finally, Parallel Advisors LLC grew its holdings in shares of Utz Brands by 11.6% during the fourth quarter. Parallel Advisors LLC now owns 9,924 shares of the company’s stock worth $161,000 after purchasing an additional 1,033 shares in the last quarter. Hedge funds and other institutional investors own 95.97% of the company’s stock.

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.