DA Davidson Lowers Utz Brands (NYSE:UTZ) Price Target to $16.00

Utz Brands (NYSE:UTZ) had its price target cut by analysts at DA Davidson from $18.00 to $16.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. DA Davidson’s target price indicates a potential upside of 12.12% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada lowered their target price on shares of Utz Brands from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Monday. Piper Sandler reduced their price objective on Utz Brands from $24.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. TD Cowen lowered their target price on Utz Brands from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Barclays decreased their price objective on shares of Utz Brands from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Mizuho lowered their target price on Utz Brands from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.30.

Utz Brands Price Performance

Shares of UTZ stock traded up $0.17 during mid-day trading on Monday, reaching $14.27. The company’s stock had a trading volume of 143,301 shares, compared to its average volume of 1,132,337. The firm’s 50-day moving average is $14.35 and its two-hundred day moving average is $16.19. The company has a market cap of $2.01 billion, a P/E ratio of 79.33, a PEG ratio of 0.86 and a beta of 1.01. Utz Brands has a 1-year low of $12.71 and a 1-year high of $20.04. 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 (NYSE:UTZ) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. The firm had revenue of $341.05 million during the quarter, compared to analyst estimates of $349.93 million. Utz Brands had a net margin of 1.13% and a return on equity of 7.92%. During the same quarter in the prior year, the business posted $0.16 earnings per share. On average, research analysts predict that Utz Brands will post 0.85 earnings per share for the current year.

Hedge Funds Weigh In On Utz Brands

Hedge funds and other institutional investors have recently made changes to their positions in the company. Smith Group Asset Management LLC raised its stake in Utz Brands by 24.2% during the 3rd quarter. Smith Group Asset Management LLC now owns 27,093 shares of the company’s stock worth $480,000 after buying an additional 5,278 shares during the period. State of New Jersey Common Pension Fund D grew its position in shares of Utz Brands by 16.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 116,544 shares of the company’s stock valued at $2,063,000 after purchasing an additional 16,201 shares during the period. GSA Capital Partners LLP raised its holdings in shares of Utz Brands by 100.0% during the third quarter. GSA Capital Partners LLP now owns 165,896 shares of the company’s stock worth $2,936,000 after acquiring an additional 82,935 shares during the period. Victory Capital Management Inc. boosted its position in Utz Brands by 19.0% during the 3rd quarter. Victory Capital Management Inc. now owns 1,474,047 shares of the company’s stock worth $26,091,000 after acquiring an additional 235,622 shares during the last quarter. Finally, King Luther Capital Management Corp lifted its holdings in Utz Brands by 42.7% during the 3rd quarter. King Luther Capital Management Corp now owns 243,146 shares of the company’s stock valued at $4,304,000 after purchasing an additional 72,756 shares during the last quarter. 95.97% of the stock is owned by institutional investors.

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.