Utz Brands (NYSE:UTZ) Trading 8.4% Higher – Should You Buy?

Utz Brands, Inc. (NYSE:UTZ) shares were up 8.4% on Thursday . The company traded as high as $17.57 and last traded at $17.57. Approximately 253,495 shares traded hands during trading, a decline of 66% from the average daily volume of 753,674 shares. The stock had previously closed at $16.21.

Analyst Ratings Changes

Several equities research analysts recently issued reports on UTZ shares. Piper Sandler reaffirmed an “overweight” rating and issued a $22.00 price objective on shares of Utz Brands in a research note on Wednesday, August 21st. Barclays lowered their price objective on Utz Brands from $23.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, July 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $22.00 target price on shares of Utz Brands in a research report on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.90.

Utz Brands Stock Up 8.5 %

The firm’s 50 day moving average price is $17.29 and its 200-day moving average price is $17.24. The company has a market cap of $2.48 billion, a P/E ratio of 585.33, a price-to-earnings-growth ratio of 1.14 and a beta of 1.01. The company has a current ratio of 1.69, a quick ratio of 1.21 and a debt-to-equity ratio of 0.57.

Utz Brands (NYSE:UTZ) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. The business had revenue of $356.20 million for the quarter, compared to analyst estimates of $356.23 million. Utz Brands had a net margin of 0.29% and a return on equity of 6.79%. Utz Brands’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 EPS. As a group, equities research analysts expect that Utz Brands, Inc. will post 0.74 EPS for the current year.

Utz Brands Dividend Announcement

The company also recently disclosed a None dividend, which was paid on Thursday, October 3rd. Investors of record on Monday, September 16th were issued a dividend of $0.011 per share. The ex-dividend date was Monday, September 16th. This represents a dividend yield of 1.3%. Utz Brands’s payout ratio is presently 766.67%.

Insiders Place Their Bets

In other news, Director Bruce John Lindeman purchased 4,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $16.11 per share, with a total value of $64,440.00. Following the completion of the transaction, the director now owns 42,480 shares of the company’s stock, valued at $684,352.80. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 17.00% of the company’s stock.

Hedge Funds Weigh In On Utz Brands

A number of hedge funds have recently bought and sold shares of UTZ. Comerica Bank grew its stake in shares of Utz Brands by 5.4% during the first quarter. Comerica Bank now owns 16,491 shares of the company’s stock worth $304,000 after buying an additional 848 shares during the last quarter. ProShare Advisors LLC raised its position in Utz Brands by 8.5% in the first quarter. ProShare Advisors LLC now owns 12,944 shares of the company’s stock valued at $239,000 after purchasing an additional 1,017 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Utz Brands by 11.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 11,838 shares of the company’s stock valued at $197,000 after purchasing an additional 1,228 shares in the last quarter. Diversified Trust Co grew its holdings in shares of Utz Brands by 4.5% during the second quarter. Diversified Trust Co now owns 44,870 shares of the company’s stock worth $747,000 after purchasing an additional 1,925 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Utz Brands by 4.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 57,879 shares of the company’s stock valued at $1,068,000 after buying an additional 2,540 shares during the period. 95.97% of the stock is owned by institutional investors.

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.