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

Utz Brands (NYSE:UTZ) had its target price raised by research analysts at Barclays from $20.00 to $23.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 19.60% from the stock’s current price.

A number of other analysts also recently commented on UTZ. Mizuho raised their price objective on Utz Brands from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday. Piper Sandler raised their price objective on shares of Utz Brands from $18.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Stephens upped their target price on shares of Utz Brands from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday. Needham & Company LLC lifted their price objective on Utz Brands from $20.50 to $22.00 and gave the company a “buy” rating in a report on Friday. Finally, Royal Bank of Canada increased their target price on Utz Brands from $19.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Utz Brands currently has a consensus rating of “Moderate Buy” and an average target price of $20.42.

Utz Brands Stock Down 0.1 %

Utz Brands stock traded down $0.01 during mid-day trading on Monday, hitting $19.23. The company’s stock had a trading volume of 501,161 shares, compared to its average volume of 809,500. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.40 and a quick ratio of 0.95. Utz Brands has a 52-week low of $11.17 and a 52-week high of $20.04. The firm’s 50 day moving average is $18.01 and its 200 day moving average is $16.22. The company has a market cap of $2.71 billion, a PE ratio of -76.88, a price-to-earnings-growth ratio of 1.32 and a beta of 0.97.

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

Insider Activity

In other Utz Brands news, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 397,885 shares of the company’s stock, valued at approximately $6,923,199. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Utz Brands news, major shareholder Series U. Of Um Partners, Llc sold 446,250 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $17.40, for a total transaction of $7,764,750.00. Following the transaction, the insider now directly owns 397,885 shares in the company, valued at approximately $6,923,199. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Chinh Chu sold 92,226 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $17.80, for a total transaction of $1,641,622.80. Following the transaction, the insider now directly owns 3,556,154 shares in the company, valued at $63,299,541.20. The disclosure for this sale can be found here. Insiders sold 609,181 shares of company stock valued at $10,754,925 over the last quarter. 17.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Utz Brands

Several large investors have recently added to or reduced their stakes in the business. SRS Capital Advisors Inc. boosted its holdings in Utz Brands by 120.2% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,464 shares of the company’s stock worth $56,000 after acquiring an additional 1,891 shares during the last quarter. Delta Asset Management LLC TN grew its holdings in shares of Utz Brands by 100.0% in the fourth quarter. Delta Asset Management LLC TN now owns 5,000 shares of the company’s stock valued at $81,000 after acquiring an additional 2,500 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Utz Brands by 1,428.8% during the fourth quarter. International Assets Investment Management LLC now owns 5,473 shares of the company’s stock worth $89,000 after acquiring an additional 5,115 shares during the period. Sherbrooke Park Advisers LLC purchased a new stake in shares of Utz Brands during the 3rd quarter valued at $136,000. Finally, Parallel Advisors LLC boosted its holdings in shares of Utz Brands by 11.6% in the 4th quarter. Parallel Advisors LLC now owns 9,924 shares of the company’s stock worth $161,000 after buying an additional 1,033 shares during the last quarter. Institutional investors 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.