Brokerages Anticipate Utz Brands, Inc. (NYSE:UTZ) to Announce $0.09 Earnings Per Share

Analysts expect that Utz Brands, Inc. (NYSE:UTZ) will announce earnings of $0.09 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Utz Brands’ earnings, with the lowest EPS estimate coming in at $0.08 and the highest estimate coming in at $0.10. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Utz Brands will report full year earnings of $0.40 per share for the current fiscal year, with EPS estimates ranging from $0.38 to $0.45. For the next fiscal year, analysts forecast that the business will report earnings of $0.62 per share, with EPS estimates ranging from $0.57 to $0.70. Zacks’ EPS averages are an average based on a survey of research firms that follow Utz Brands.

UTZ has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on Utz Brands in a report on Monday, December 21st. They set a “neutral” rating on the stock. Citigroup boosted their price target on Utz Brands from $21.00 to $26.00 in a report on Wednesday, January 20th. Credit Suisse Group boosted their price target on Utz Brands from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, January 20th. Zacks Investment Research downgraded Utz Brands from a “buy” rating to a “hold” rating in a report on Tuesday, February 16th. Finally, Piper Sandler boosted their price target on Utz Brands from $22.00 to $25.00 in a report on Tuesday, December 22nd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $25.39.

Institutional investors and hedge funds have recently modified their holdings of the stock. California Public Employees Retirement System bought a new position in Utz Brands during the 3rd quarter worth $1,805,000. Parallel Advisors LLC acquired a new position in Utz Brands during the 3rd quarter worth $93,000. Wells Fargo & Company MN acquired a new position in Utz Brands during the 3rd quarter worth $19,414,000. Jennison Associates LLC acquired a new position in Utz Brands during the 3rd quarter worth $10,631,000. Finally, First Bank & Trust acquired a new position in Utz Brands during the 3rd quarter worth $65,000. Hedge funds and other institutional investors own 34.61% of the company’s stock.

UTZ stock traded down $1.27 during midday trading on Tuesday, hitting $24.93. 10,913 shares of the company’s stock were exchanged, compared to its average volume of 603,923. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.79 and a quick ratio of 1.34. Utz Brands has a 12-month low of $9.84 and a 12-month high of $26.62. The firm has a 50 day moving average price of $23.55 and a 200-day moving average price of $19.39.

About Utz Brands

Utz Brands, Inc manufacturers, markets, and distributes snacking products in the United States. It offers a range of salty snacks, including potato chips, pretzels, cheese snacks, veggie snacks, pork skins, pub/party mixes, and other snacks under the Utz, Zapp's, Golden Flake, Good Health, Boulder Canyon, Hawaiian, and TORTIYAHS brands.

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