Utz Brands (NYSE:UTZ) Stock Rating Upgraded by Stephens

Posted by Defense World Staff on Oct 24th, 2023

Stephens upgraded shares of Utz Brands (NYSE:UTZ – Free Report) from an equal weight rating to an overweight rating in a research report sent to investors on Monday morning, Marketbeat reports. Stephens currently has $16.00 target price on the stock, down from their previous target price of $18.00.

A number of other research analysts have also weighed in on UTZ. Piper Sandler decreased their price objective on Utz Brands from $22.00 to $17.00 and set an overweight rating on the stock in a report on Monday, October 2nd. TD Cowen started coverage on Utz Brands in a report on Wednesday, September 13th. They issued an outperform rating and a $18.00 price objective on the stock. Bank of America decreased their target price on shares of Utz Brands from $20.00 to $13.00 and set a neutral rating on the stock in a research note on Tuesday, October 17th. Royal Bank of Canada started coverage on shares of Utz Brands in a research note on Tuesday, September 26th. They issued an outperform rating and a $17.00 target price on the stock. Finally, Barclays reduced their price target on Utz Brands from $17.00 to $16.00 and set an overweight rating on the stock in a report on Thursday, October 12th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Utz Brands has an average rating of Moderate Buy and an average price target of $17.00.

Check Out Our Latest Analysis on UTZ

Utz Brands Trading Up 3.7 %

Shares of NYSE:UTZ opened at $12.06 on Monday. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 1,206.00, a price-to-earnings-growth ratio of 1.93 and a beta of 0.85. Utz Brands has a 1 year low of $11.17 and a 1 year high of $19.15. The business’s 50 day moving average price is $13.80 and its 200-day moving average price is $15.81. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.82 and a quick ratio of 1.24.

Utz Brands (NYSE:UTZ – Get Free Report) last issued its quarterly earnings results on Thursday, August 10th. The company reported $0.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.13. The firm had revenue of $362.90 million for the quarter, compared to analyst estimates of $360.59 million. Utz Brands had a net margin of 0.05% and a return on equity of 5.77%. Utz Brands’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $0.13 EPS. On average, equities research analysts forecast that Utz Brands will post 0.55 earnings per share for the current fiscal year.

Utz Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 5th. Investors of record on Monday, September 18th were issued a $0.057 dividend. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.23 annualized dividend and a yield of 1.89%. Utz Brands’s dividend payout ratio (DPR) is presently 2,300.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Utz Brands by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,848,662 shares of the company’s stock worth $103,414,000 after purchasing an additional 87,687 shares during the period. Champlain Investment Partners LLC increased its holdings in Utz Brands by 3.5% during the 2nd quarter. Champlain Investment Partners LLC now owns 5,916,100 shares of the company’s stock worth $96,787,000 after purchasing an additional 201,995 shares during the period. JPMorgan Chase & Co. increased its holdings in Utz Brands by 3.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,337,816 shares of the company’s stock worth $87,327,000 after purchasing an additional 170,050 shares during the period. BlackRock Inc. increased its holdings in Utz Brands by 14.3% during the 2nd quarter. BlackRock Inc. now owns 4,868,901 shares of the company’s stock worth $79,655,000 after purchasing an additional 610,455 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Utz Brands by 3.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,289,906 shares of the company’s stock worth $53,823,000 after purchasing an additional 99,268 shares during the period. 49.01% of the stock is currently owned by hedge funds and other institutional investors.

Utz Brands Company Profile

(Get Free Report)

Utz Brands, Inc operates as a snack food manufacturing company. It offers a range of salty snacks, including potato chips, kettle chips, tortilla chips, pretzels, cheese snacks, pork skins, pub/party mixes, salsa and queso, ready-to-eat popcorn, veggies, and other snacks under the Utz, Zapp's, ON THE BORDER, Golden Flake, Good Health, Boulder Canyon, Hawaiian, TGI Fridays, TORTIYAHS!, and other brand names.