Utz Brands (NYSE:UTZ) PT Raised to $22.00 at Needham & Company LLC

Utz Brands (NYSE:UTZ) had its price target raised by research analysts at Needham & Company LLC from $20.50 to $22.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 14.35% from the company’s previous close.

A number of other research analysts have also weighed in on UTZ. DA Davidson initiated coverage on shares of Utz Brands in a research note on Friday, March 1st. They issued a “neutral” rating and a $20.00 price objective on the stock. Truist Financial lifted their price target on Utz Brands from $13.00 to $17.00 and gave the company a “hold” rating in a research note on Monday, March 4th. Piper Sandler boosted their price objective on Utz Brands from $18.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Mizuho raised their target price on Utz Brands from $19.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, Bank of America upgraded Utz Brands from a “neutral” rating to a “buy” rating and upped their price target for the stock from $19.00 to $22.00 in a report on Thursday, March 14th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.83.

Utz Brands Stock Down 1.6 %

UTZ stock opened at $19.24 on Friday. The stock’s 50 day simple moving average is $18.01 and its 200 day simple moving average is $16.16. The company has a market cap of $2.71 billion, a P/E ratio of -76.96, a price-to-earnings-growth ratio of 1.72 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.97 and a current ratio of 1.42. Utz Brands has a fifty-two week low of $11.17 and a fifty-two week high of $20.04.

Utz Brands (NYSE:UTZ) last released its quarterly earnings data 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 6.13% and a negative net margin of 1.38%. The firm had revenue of $346.50 million during the quarter, compared to the consensus estimate of $346.99 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, research analysts expect that Utz Brands will post 0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Roger K. Deromedi sold 13,446 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $19.03, for a total transaction of $255,877.38. Following the completion of the sale, the director now owns 3,548,704 shares in the company, valued at $67,531,837.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Utz Brands news, Director Roger K. Deromedi sold 13,446 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $19.03, for a total transaction of $255,877.38. Following the completion of the transaction, the director now directly owns 3,548,704 shares of the company’s stock, valued at $67,531,837.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now directly owns 397,885 shares of the company’s stock, valued at $6,923,199. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 609,181 shares of company stock valued at $10,754,925. 17.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Utz Brands

Several institutional investors have recently added to or reduced their stakes in UTZ. Jennison Associates LLC increased its stake in shares of Utz Brands by 15.2% in the first quarter. Jennison Associates LLC now owns 1,331,581 shares of the company’s stock worth $24,554,000 after purchasing an additional 175,956 shares in the last quarter. Diversify Advisory Services LLC purchased a new position in Utz Brands in the 1st quarter valued at approximately $359,000. Norden Group LLC bought a new stake in Utz Brands during the 1st quarter valued at $620,000. Verdence Capital Advisors LLC lifted its position in shares of Utz Brands by 45.3% during the first quarter. Verdence Capital Advisors LLC now owns 22,746 shares of the company’s stock worth $419,000 after acquiring an additional 7,091 shares in the last quarter. Finally, AMI Asset Management Corp boosted its holdings in shares of Utz Brands by 7.3% in the first quarter. AMI Asset Management Corp now owns 208,465 shares of the company’s stock worth $3,844,000 after acquiring an additional 14,264 shares during the period. 95.97% of the stock is owned by hedge funds and other institutional investors.

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.