Utz Brands (NYSE:UTZ) Rating Lowered to “Hold” at TD Cowen

Utz Brands (NYSE:UTZ) was downgraded by equities research analysts at TD Cowen from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, MarketBeat reports. They presently have a $15.00 price target on the stock, down from their prior price target of $17.00. TD Cowen’s target price would suggest a potential upside of 12.11% from the stock’s current price.

A number of other analysts also recently issued reports on UTZ. Piper Sandler reduced their price objective on Utz Brands from $24.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. DA Davidson reduced their price target on shares of Utz Brands from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. Barclays lowered their price objective on shares of Utz Brands from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Mizuho reduced their target price on shares of Utz Brands from $21.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, February 10th. Finally, Royal Bank of Canada decreased their target price on shares of Utz Brands from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.56.

Utz Brands Trading Down 1.5 %

Utz Brands stock opened at $13.38 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.21 and a quick ratio of 0.85. The firm’s 50 day moving average price is $13.64 and its 200-day moving average price is $15.07. Utz Brands has a 1 year low of $12.15 and a 1 year high of $20.04. The stock has a market cap of $1.89 billion, a P/E ratio of 74.33, a PEG ratio of 0.86 and a beta of 1.10.

Utz Brands (NYSE:UTZ) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. The company had revenue of $341.05 million for the quarter, compared to the consensus estimate of $349.93 million. Utz Brands had a net margin of 1.13% and a return on equity of 7.92%. During the same period in the previous year, the firm posted $0.16 EPS. On average, equities analysts predict that Utz Brands will post 0.85 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Howard A. Friedman acquired 3,525 shares of the stock in a transaction on Monday, February 24th. The stock was bought at an average cost of $14.16 per share, with a total value of $49,914.00. Following the transaction, the chief executive officer now directly owns 265,729 shares in the company, valued at approximately $3,762,722.64. This represents a 1.34 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Cc Collier Holdings, Llc sold 496,038 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $13.40, for a total transaction of $6,646,909.20. The disclosure for this sale can be found here. Insiders own 16.32% of the company’s stock.

Hedge Funds Weigh In On Utz Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in UTZ. Geode Capital Management LLC lifted its stake in Utz Brands by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,548,231 shares of the company’s stock worth $27,409,000 after acquiring an additional 47,320 shares during the period. Barclays PLC boosted its stake in shares of Utz Brands by 21.4% during the third quarter. Barclays PLC now owns 555,477 shares of the company’s stock valued at $9,831,000 after purchasing an additional 97,767 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Utz Brands by 2.5% during the fourth quarter. Victory Capital Management Inc. now owns 1,510,472 shares of the company’s stock valued at $23,654,000 after buying an additional 36,425 shares during the period. Boston Partners raised its stake in Utz Brands by 3.5% in the fourth quarter. Boston Partners now owns 885,316 shares of the company’s stock worth $13,422,000 after buying an additional 30,156 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Utz Brands during the fourth quarter worth $339,000. Institutional investors own 95.97% of the company’s stock.

Utz Brands Company Profile

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.