Utz Brands (NYSE:UTZ) Announces Quarterly Earnings Results

Utz Brands (NYSE:UTZ) issued its quarterly earnings results on Thursday. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01, Briefing.com reports. The business had revenue of $365.50 million for the quarter, compared to analysts’ expectations of $363.98 million. Utz Brands had a net margin of 0.29% and a return on equity of 6.79%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the business earned $0.17 earnings per share.

Utz Brands Trading Up 0.8 %

Shares of UTZ traded up $0.13 during mid-day trading on Friday, hitting $17.35. 1,093,151 shares of the company’s stock traded hands, compared to its average volume of 759,776. The company has a quick ratio of 1.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $2.44 billion, a P/E ratio of 578.33, a PEG ratio of 1.11 and a beta of 1.01. The business’s 50-day moving average price is $17.30 and its 200-day moving average price is $17.24. Utz Brands has a 1 year low of $11.67 and a 1 year high of $20.04.

Utz Brands Dividend Announcement

The firm also recently disclosed a None dividend, which was paid on Thursday, October 3rd. Shareholders of record on Monday, September 16th were issued a $0.011 dividend. This represents a yield of 1.3%. The ex-dividend date of this dividend was Monday, September 16th. Utz Brands’s dividend payout ratio (DPR) is currently 800.00%.

Wall Street Analyst Weigh In

Several research firms recently commented on UTZ. Piper Sandler increased their target price on shares of Utz Brands from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 price objective on shares of Utz Brands in a research note on Friday, August 2nd. Finally, Barclays lowered their target price on Utz Brands from $23.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Utz Brands currently has a consensus rating of “Moderate Buy” and an average target price of $21.10.

Insider Buying and Selling

In other news, Director Bruce John Lindeman acquired 4,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were acquired at an average cost of $16.11 per share, with a total value of $64,440.00. Following the transaction, the director now owns 42,480 shares in the company, valued at $684,352.80. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 17.00% of the stock is currently owned by insiders.

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.