Mizuho Issues Pessimistic Forecast for Utz Brands (NYSE:UTZ) Stock Price

Utz Brands (NYSE:UTZ) had its target price cut by research analysts at Mizuho from $21.00 to $19.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price would suggest a potential upside of 40.43% from the stock’s current price.

Several other equities analysts have also weighed in on UTZ. TD Cowen cut their target price on Utz Brands from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Piper Sandler dropped their price objective on shares of Utz Brands from $24.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Finally, Barclays lowered their price target on Utz Brands from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Utz Brands Price Performance

Shares of UTZ stock traded up $0.16 during midday trading on Monday, reaching $13.53. 279,048 shares of the company were exchanged, compared to its average volume of 1,163,007. The company’s 50 day moving average price is $15.07 and its two-hundred day moving average price is $16.33. The company has a market cap of $1.91 billion, a P/E ratio of -71.21, a PEG ratio of 0.87 and a beta of 1.01. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.85 and a current ratio of 1.21. Utz Brands has a 12 month low of $12.71 and a 12 month high of $20.04.

Institutional Investors Weigh In On Utz Brands

A number of hedge funds have recently made changes to their positions in the stock. Copeland Capital Management LLC raised its stake in shares of Utz Brands by 1.9% during the fourth quarter. Copeland Capital Management LLC now owns 3,117,478 shares of the company’s stock valued at $48,820,000 after acquiring an additional 59,429 shares during the last quarter. State Street Corp boosted its holdings in shares of Utz Brands by 9.5% during the 3rd quarter. State Street Corp now owns 1,758,961 shares of the company’s stock worth $31,256,000 after buying an additional 152,868 shares in the last quarter. Geode Capital Management LLC boosted its stake in Utz Brands by 3.2% during the third quarter. Geode Capital Management LLC now owns 1,548,231 shares of the company’s stock worth $27,409,000 after acquiring an additional 47,320 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Utz Brands by 2.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,510,472 shares of the company’s stock worth $23,654,000 after purchasing an additional 36,425 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Utz Brands by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 576,730 shares of the company’s stock valued at $9,032,000 after buying an additional 5,569 shares in the last quarter. 95.97% of the stock is currently owned by institutional investors and hedge funds.

Utz Brands Company Profile

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.