Piper Sandler Cuts Utz Brands (NYSE:UTZ) Price Target to $20.00

Utz Brands (NYSE:UTZ) had its price target decreased by analysts at Piper Sandler from $24.00 to $20.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 48.37% from the stock’s previous close.

A number of other research firms also recently commented on UTZ. Mizuho decreased their target price on Utz Brands from $24.00 to $21.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. TD Cowen dropped their price objective on shares of Utz Brands from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Utz Brands currently has an average rating of “Moderate Buy” and a consensus target price of $20.40.

Utz Brands Stock Performance

Shares of NYSE UTZ traded down $0.39 during trading on Thursday, reaching $13.48. 139,343 shares of the company traded hands, compared to its average volume of 1,111,042. The firm has a 50 day simple moving average of $16.30 and a 200-day simple moving average of $16.59. Utz Brands has a 52-week low of $13.36 and a 52-week high of $20.04. The stock has a market capitalization of $1.90 billion, a PE ratio of -70.95, a P/E/G ratio of 0.86 and a beta of 1.03. The company has a quick ratio of 0.85, a current ratio of 1.21 and a debt-to-equity ratio of 0.56.

Utz Brands (NYSE:UTZ) last announced its earnings results on Thursday, October 31st. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The company had revenue of $365.50 million for the quarter, compared to analysts’ expectations of $363.98 million. Utz Brands had a positive return on equity of 7.25% and a negative net margin of 0.99%. Utz Brands’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the firm earned $0.17 EPS. Equities research analysts anticipate that Utz Brands will post 0.74 earnings per share for the current year.

Insider Activity

In other news, insider Cc Collier Holdings, Llc sold 2,815,404 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $17.29, for a total value of $48,678,335.16. Following the completion of the transaction, the insider now directly owns 496,038 shares of the company’s stock, valued at $8,576,497.02. The trade was a 85.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Cary Devore sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $17.32, for a total transaction of $519,600.00. Following the completion of the transaction, the executive vice president now directly owns 451,117 shares of the company’s stock, valued at approximately $7,813,346.44. This represents a 6.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.

Institutional Investors Weigh In On Utz Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new position in shares of Utz Brands during the 2nd quarter valued at $80,000. nVerses Capital LLC acquired a new stake in Utz Brands in the third quarter worth $142,000. Moody National Bank Trust Division bought a new stake in Utz Brands in the 4th quarter valued at about $169,000. XTX Topco Ltd bought a new stake in shares of Utz Brands during the second quarter valued at about $185,000. Finally, MQS Management LLC acquired a new stake in shares of Utz Brands in the 2nd quarter worth approximately $187,000. 95.97% of the stock is currently owned by institutional investors and hedge funds.

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.