Barclays Increases Utz Brands (NYSE:UTZ) Price Target to $23.00

Utz Brands (NYSE:UTZ) had its price objective hoisted by analysts at Barclays from $20.00 to $23.00 in a report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 21.18% from the stock’s previous close.

A number of other research firms have also recently weighed in on UTZ. Truist Financial upped their price target on shares of Utz Brands from $13.00 to $17.00 and gave the stock a “hold” rating in a research note on Monday, March 4th. Bank of America raised shares of Utz Brands from a “neutral” rating to a “buy” rating and increased their target price for the company from $19.00 to $22.00 in a report on Thursday, March 14th. Royal Bank of Canada boosted their price target on Utz Brands from $19.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Piper Sandler raised their price objective on Utz Brands from $18.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Finally, Mizuho boosted their target price on Utz Brands from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.42.

Utz Brands Price Performance

Shares of UTZ opened at $18.98 on Monday. The company has a current ratio of 1.40, a quick ratio of 0.95 and a debt-to-equity ratio of 0.54. The stock’s 50 day moving average is $18.02 and its two-hundred day moving average is $16.28. Utz Brands has a twelve month low of $11.17 and a twelve month high of $20.04. The firm has a market capitalization of $2.67 billion, a PE ratio of -75.92, a P/E/G ratio of 1.32 and a beta of 0.97.

Utz Brands (NYSE:UTZ) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. Utz Brands had a positive return on equity of 6.16% and a negative net margin of 1.38%. The business had revenue of $346.50 million during the quarter, compared to analysts’ expectations of $346.99 million. During the same period last year, the firm earned $0.11 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Research analysts anticipate that Utz Brands will post 0.72 earnings per share for the current year.

Insider Buying and Selling

In other news, 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 transaction of $7,764,750.00. Following the completion of the sale, the insider now directly owns 397,885 shares in the company, valued at $6,923,199. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Mark Schreiber sold 20,103 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $19.47, for a total value of $391,405.41. Following the completion of the transaction, the executive vice president now directly owns 108,126 shares in the company, valued at $2,105,213.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $17.40, for a total value of $7,764,750.00. Following the transaction, the insider now owns 397,885 shares in the company, valued at $6,923,199. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,103,199 shares of company stock worth $20,086,036. 17.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of UTZ. Cambridge Investment Research Advisors Inc. purchased a new stake in Utz Brands in the third quarter valued at approximately $268,000. Raymond James & Associates grew its stake in shares of Utz Brands by 27.4% during the 3rd quarter. Raymond James & Associates now owns 17,835 shares of the company’s stock valued at $240,000 after buying an additional 3,833 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Utz Brands by 3.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 51,183 shares of the company’s stock worth $687,000 after buying an additional 1,918 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Utz Brands by 0.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 389,397 shares of the company’s stock worth $5,230,000 after buying an additional 3,315 shares during the period. Finally, Verdence Capital Advisors LLC raised its position in shares of Utz Brands by 92.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 21,420 shares of the company’s stock worth $288,000 after buying an additional 10,278 shares during the period. Institutional investors and hedge funds 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.