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

Utz Brands (NYSE:UTZ) had its price target hoisted by equities researchers at Barclays from $20.00 to $23.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 19.60% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada boosted their price target on Utz Brands from $19.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday. Truist Financial boosted their price target on shares of Utz Brands from $13.00 to $17.00 and gave the stock a “hold” rating in a research report on Monday, March 4th. DA Davidson started coverage on Utz Brands in a research note on Friday, March 1st. They set a “neutral” rating and a $20.00 target price for the company. Stephens boosted their price target on Utz Brands from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday. Finally, 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 research report on Friday, March 1st. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.42.

Utz Brands Stock Performance

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

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

Insider Transactions at Utz Brands

In related news, major shareholder Chinh Chu sold 92,226 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 Chinh Chu sold 92,226 shares of Utz Brands stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $17.80, for a total value of $1,641,622.80. Following the completion of the sale, the insider now directly owns 3,556,154 shares of the company’s stock, valued at approximately $63,299,541.20. The disclosure for this sale can be found here. Insiders sold a total of 609,181 shares of company stock valued at $10,754,925 over the last three months. Corporate insiders own 17.00% of the company’s stock.

Institutional Trading of Utz Brands

Institutional investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. bought a new stake in Utz Brands during the 3rd quarter worth approximately $268,000. Raymond James & Associates grew its stake in shares of Utz Brands by 27.4% during the third quarter. Raymond James & Associates now owns 17,835 shares of the company’s stock valued at $240,000 after buying an additional 3,833 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Utz Brands by 3.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 51,183 shares of the company’s stock worth $687,000 after purchasing an additional 1,918 shares during the period. Bank of New York Mellon Corp lifted its position in Utz Brands by 0.9% in the third quarter. Bank of New York Mellon Corp now owns 389,397 shares of the company’s stock valued at $5,230,000 after purchasing an additional 3,315 shares during the last quarter. Finally, Verdence Capital Advisors LLC lifted its position in Utz Brands by 92.2% in the third quarter. Verdence Capital Advisors LLC now owns 21,420 shares of the company’s stock valued at $288,000 after purchasing an additional 10,278 shares during the last quarter. 95.97% of the stock is currently owned by hedge funds and other institutional investors.

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.