In a recent research report released on September 25, 2023, Barclays lowered its target price for Utz Brands (NYSE:UTZ) from $21.00 to $17.00, as reported by Benzinga. The firm maintained its “overweight” rating on the stock but indicated a potential upside of 23.82% from the stock’s previous close.
As of Monday, NYSE UTZ opened at $13.73. Over the past year, Utz Brands had a low of $13.56 and a high of $19.15. With a market cap of $1.93 billion, the firm operates with a PE ratio of 1,373.00, a P/E/G ratio of 2.17, and a beta of 0.81. The fifty-day moving average stands at $15.46 and the two-hundred-day moving average is $16.42. Utz Brands has a debt-to-equity ratio of 0.68, quick ratio of 1.24, and current ratio of 1.82.
Utz Brands operates as a snack food manufacturing company and offers various salty snacks under well-known brand names such as Utz, Zapp’s, ON THE BORDER, Golden Flake, Good Health, Boulder Canyon, Hawaiian TGI Fridays, TORTIYAHS!, among others.
In its most recent earnings report released on August 10th, Utz Brands posted earnings per share (EPS) of $0.13 for the quarter – in line with analysts’ consensus estimate of $0.13 EPS.The company’s return on equity was reported at 5/77%, with a net margin standing at 0/05%. Revenue for the quarter amounted to $362/90 million compared to analysts’ expectations of $360/59 million – representing an increase of approximately 3/7% when compared to the same quarter last year. Analysts predict that Utz Brands will achieve earnings per share of $0.56 for the current year.
As investors consider Barclays’ reduced target price and the potential upside, Utz Brands will likely draw attention in the coming weeks.
AvalonBay Communities, Inc.
Updated on: 04/12/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
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Institutional Investors Embrace Utz Brands: A Signal of Growth Potential
Institutional Investors Show Growing Interest in Utz Brands
Date: September 25, 2023
Institutional investors and hedge funds are showing increased interest in Utz Brands, a leading snack food manufacturer. As of late, several prominent entities have modified their holdings of the company, indicating a positive outlook and potential for growth.
One such noteworthy investor is Point72 Middle East FZE. They recently acquired a new position in Utz Brands during the fourth quarter of this year. This move demonstrates their confidence in the company’s future prospects as they invested a considerable amount of $41,000. Similarly, Delta Asset Management LLC TN made an astute decision to acquire a new stake in Utz Brands during the second quarter.
KB Financial Partners LLC also showcased their trust in Utz Brands by purchasing a stake worth approximately $50,000 in the first quarter. It is interesting to note that Allspring Global Investments Holdings LLC increased its position in shares of Utz Brands significantly by 87.1% during the second quarter. Such a substantial increase indicates that the institutional investor sees potential value and believes in the long-term growth prospects of the company.
Moreover, Ridgewood Investments LLC joined this group by acquiring a new position worth around $73,000 earlier this year. These strategic investments from hedge funds and institutional investors collectively testify to their faith in Utz Brands’ ability to deliver returns.
It is crucial to highlight that these investors now collectively own approximately 49.01% of Utz Brands’ stock. This level of ownership signifies not only their growing confidence but also establishes an avenue for potential collaborations or partnerships with other major shareholders.
A testament to this growing investor interest was TD Cowen initiating coverage on shares of Utz Brands just recently on September 13th. In its research note, TD Cowen issued an “outperform” rating along with an impressive price objective of $18.00 on the stock. Such a positive rating from a reputed research firm further bolsters the market sentiment surrounding Utz Brands.
Overall, the increasing attention from institutional investors and hedge funds emphasizes the potential bullish prospects of Utz Brands in the market. Their strategic acquisitions and modifications in holdings illustrate a shared belief that Utz Brands is poised for significant growth opportunities in the future.
As always, investors are advised to conduct their due diligence and carefully analyze the financial performance and market dynamics of any company before making investment decisions.