Utz Brands (NYSE:UTZ) Rating Increased to Buy at Bank of America

Bank of America upgraded shares of Utz Brands (NYSE:UTZFree Report) from a neutral rating to a buy rating in a research report report published on Thursday, Marketbeat reports. Bank of America currently has $22.00 price target on the stock, up from their previous price target of $19.00.

Other equities analysts have also issued research reports about the company. Royal Bank of Canada lifted their price objective on Utz Brands from $17.00 to $19.00 and gave the company an outperform rating in a research note on Monday, December 18th. 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 note on Friday, March 1st. Mizuho assumed coverage on shares of Utz Brands in a research note on Wednesday, December 20th. They issued a buy rating and a $19.00 target price for the company. DA Davidson started coverage on shares of Utz Brands in a research report on Friday, March 1st. They set a neutral rating and a $20.00 price target on the stock. Finally, Truist Financial upped their price objective 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. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Utz Brands has an average rating of Moderate Buy and an average price target of $18.42.

Check Out Our Latest Research Report on UTZ

Utz Brands Stock Up 1.4 %

Shares of UTZ stock opened at $18.22 on Thursday. Utz Brands has a fifty-two week low of $11.17 and a fifty-two week high of $19.21. The firm has a market capitalization of $2.56 billion, a PE ratio of -58.77, a P/E/G ratio of 1.56 and a beta of 0.96. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.97 and a current ratio of 1.42. The stock’s 50-day simple moving average is $17.77 and its 200-day simple moving average is $15.12.

Utz Brands (NYSE:UTZGet Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). Utz Brands had a positive return on equity of 6.08% and a negative net margin of 1.73%. The business had revenue of $352.10 million during the quarter, compared to analyst estimates of $354.63 million. During the same quarter last year, the company posted $0.15 EPS. Utz Brands’s quarterly revenue was down .7% compared to the same quarter last year. Equities analysts expect that Utz Brands will post 0.69 earnings per share for the current year.

Insider Transactions at Utz Brands

In other news, major shareholder Chinh Chu sold 92,226 shares of the stock in a transaction dated Wednesday, March 13th. The shares were 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 in the company, valued at $63,299,541.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 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 owns 397,885 shares of the company’s stock, valued at $6,923,199. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Chinh Chu sold 92,226 shares of Utz Brands stock in a transaction on 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 transaction, the insider now owns 3,556,154 shares in the company, valued at approximately $63,299,541.20. The disclosure for this sale can be found here. Insiders have sold 609,181 shares of company stock valued at $10,754,925 over the last ninety days. Insiders own 17.32% of the company’s stock.

Institutional Investors Weigh In On Utz Brands

Several hedge funds and other institutional investors have recently bought and sold shares of UTZ. Delta Asset Management LLC TN acquired a new position in Utz Brands in the 2nd quarter valued at about $41,000. Point72 Middle East FZE purchased a new stake in shares of Utz Brands during the 4th quarter valued at approximately $41,000. KB Financial Partners LLC purchased a new stake in shares of Utz Brands during the 1st quarter valued at approximately $50,000. SRS Capital Advisors Inc. lifted its holdings in Utz Brands by 120.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,464 shares of the company’s stock valued at $56,000 after acquiring an additional 1,891 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Utz Brands by 87.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 3,465 shares of the company’s stock worth $57,000 after acquiring an additional 1,613 shares during the period. 49.01% of the stock is currently owned by institutional investors and hedge funds.

About Utz Brands

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Utz Brands (NYSE:UTZ)

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