Piper Sandler Trims Oatly Group (NASDAQ:OTLY) Target Price to $6.00

Oatly Group (NASDAQ:OTLYGet Rating) had its price target decreased by Piper Sandler from $8.00 to $6.00 in a research note released on Wednesday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other research firms also recently commented on OTLY. Royal Bank of Canada reduced their price objective on shares of Oatly Group from $14.00 to $9.00 and set an outperform rating for the company in a report on Wednesday. Barclays cut their price target on shares of Oatly Group from $6.00 to $5.00 in a report on Wednesday. Citigroup cut their price target on shares of Oatly Group from $11.00 to $10.00 in a report on Thursday, May 5th. Mizuho cut their price target on shares of Oatly Group from $4.00 to $3.50 and set a neutral rating for the company in a report on Wednesday. Finally, Credit Suisse Group cut their price target on shares of Oatly Group from $7.00 to $6.00 and set an outperform rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of 11.19.

Oatly Group Price Performance

NASDAQ:OTLY opened at 3.97 on Wednesday. The company has a 50-day moving average of 3.86 and a 200-day moving average of 4.80. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of -8.45 and a beta of 0.90. Oatly Group has a 52 week low of 2.75 and a 52 week high of 19.86. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.36 and a current ratio of 1.94.

Oatly Group (NASDAQ:OTLYGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The company reported -0.12 EPS for the quarter, topping analysts’ consensus estimates of -0.14 by 0.02. The company had revenue of 178.00 million during the quarter, compared to the consensus estimate of 183.52 million. Oatly Group had a negative net margin of 39.99% and a negative return on equity of 23.60%. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.11) EPS. As a group, equities research analysts anticipate that Oatly Group will post -0.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Oatly Group

Several institutional investors have recently modified their holdings of OTLY. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Oatly Group by 57.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,166 shares of the company’s stock worth $662,000 after buying an additional 30,249 shares during the period. Fifth Third Bancorp acquired a new position in Oatly Group during the fourth quarter valued at approximately $204,000. DekaBank Deutsche Girozentrale grew its holdings in Oatly Group by 6.3% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 425,145 shares of the company’s stock valued at $3,328,000 after purchasing an additional 25,145 shares during the period. Davy Global Fund Management Ltd grew its holdings in Oatly Group by 18.7% during the fourth quarter. Davy Global Fund Management Ltd now owns 737,581 shares of the company’s stock valued at $5,871,000 after purchasing an additional 116,134 shares during the period. Finally, Ashfield Capital Partners LLC acquired a new position in Oatly Group during the fourth quarter valued at approximately $249,000. Institutional investors and hedge funds own 21.07% of the company’s stock.

About Oatly Group

(Get Rating)

Oatly Group AB, an oatmilk company, provides a range of plant-based dairy products made from oats in Sweden. It offers Barista edition oatmilk, oatgurts, frozen desserts, ice-creams, and yogurts; ready-to-go drinks, such as cold brew latte, mocha latte, matcha latte, and mini oat drink in original and chocolate flavors; and cooking products, including Cooking Cream, in regular and organic, Crème Fraiche, Whipping Cream, Vanilla Custard and Spreads in a variety of flavors.

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