DA Davidson Has Lowered Expectations for Utz Brands (NYSE:UTZ) Stock Price

Utz Brands (NYSE:UTZ) had its target price cut by equities researchers at DA Davidson from $18.00 to $16.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. DA Davidson’s price objective would indicate a potential upside of 12.80% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Mizuho dropped their target price on Utz Brands from $21.00 to $19.00 and set an “outperform” rating on the stock in a research report on Monday, February 10th. TD Cowen dropped their target price on Utz Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Barclays dropped their target price on Utz Brands from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Royal Bank of Canada lowered their price objective on Utz Brands from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Piper Sandler lowered their price objective on Utz Brands from $24.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Utz Brands has an average rating of “Moderate Buy” and a consensus target price of $19.30.

Utz Brands Price Performance

NYSE UTZ opened at $14.19 on Monday. Utz Brands has a one year low of $12.71 and a one year high of $20.04. The stock has a 50-day moving average of $14.22 and a 200 day moving average of $16.15. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 78.81, a PEG ratio of 0.86 and a beta of 1.02. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 1.21.

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

Insider Buying and Selling

In other Utz Brands news, CEO Howard A. Friedman purchased 3,525 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were bought at an average cost of $14.16 per share, with a total value of $49,914.00. Following the acquisition, the chief executive officer now owns 265,729 shares in the company, valued at approximately $3,762,722.64. This trade represents a 1.34 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 17.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in UTZ. JPMorgan Chase & Co. lifted its holdings in Utz Brands by 14.9% in the 4th quarter. JPMorgan Chase & Co. now owns 7,923,292 shares of the company’s stock worth $124,079,000 after purchasing an additional 1,025,656 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Utz Brands by 20.5% in the 4th quarter. Ameriprise Financial Inc. now owns 4,110,873 shares of the company’s stock worth $64,376,000 after purchasing an additional 698,589 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in Utz Brands by 13.5% in the 4th quarter. Champlain Investment Partners LLC now owns 5,208,402 shares of the company’s stock worth $81,564,000 after purchasing an additional 620,196 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in Utz Brands by 157.9% in the 4th quarter. Alyeska Investment Group L.P. now owns 612,441 shares of the company’s stock worth $9,591,000 after purchasing an additional 375,000 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Utz Brands by 19.0% in the 3rd quarter. Victory Capital Management Inc. now owns 1,474,047 shares of the company’s stock worth $26,091,000 after purchasing an additional 235,622 shares in the last quarter. 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.