$242.20 Million in Sales Expected for Utz Brands, Inc. (NYSE:UTZ) This Quarter

Wall Street analysts expect Utz Brands, Inc. (NYSE:UTZ) to announce sales of $242.20 million for the current quarter, Zacks reports. Two analysts have issued estimates for Utz Brands’ earnings, with the highest sales estimate coming in at $246.50 million and the lowest estimate coming in at $237.89 million. The company is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Utz Brands will report full-year sales of $960.21 million for the current financial year, with estimates ranging from $955.92 million to $964.50 million. For the next financial year, analysts expect that the business will report sales of $1.15 billion, with estimates ranging from $1.14 billion to $1.15 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Utz Brands.

UTZ has been the subject of a number of research analyst reports. Credit Suisse Group increased their target price on shares of Utz Brands from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Wednesday, January 20th. Barclays reaffirmed a “buy” rating and issued a $26.00 target price on shares of Utz Brands in a report on Sunday, January 17th. Citigroup increased their price target on shares of Utz Brands from $21.00 to $26.00 in a research report on Wednesday, January 20th. Zacks Investment Research lowered shares of Utz Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, February 16th. Finally, Piper Sandler increased their price target on shares of Utz Brands from $22.00 to $25.00 in a research report on Tuesday, December 22nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $25.39.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. California Public Employees Retirement System acquired a new stake in Utz Brands during the third quarter worth approximately $1,805,000. Parallel Advisors LLC acquired a new stake in Utz Brands during the third quarter worth approximately $93,000. Wells Fargo & Company MN acquired a new stake in Utz Brands during the third quarter worth approximately $19,414,000. Jennison Associates LLC acquired a new stake in Utz Brands during the third quarter worth approximately $10,631,000. Finally, First Bank & Trust acquired a new stake in Utz Brands during the third quarter worth approximately $65,000. Hedge funds and other institutional investors own 34.61% of the company’s stock.

Shares of NYSE:UTZ traded down $1.27 on Thursday, reaching $24.93. The company’s stock had a trading volume of 10,913 shares, compared to its average volume of 603,923. Utz Brands has a 52-week low of $9.84 and a 52-week high of $26.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.79 and a quick ratio of 1.34. The stock’s 50-day moving average is $23.55 and its two-hundred day moving average is $19.39.

About Utz Brands

Utz Brands, Inc manufacturers, markets, and distributes snacking products in the United States. It offers a range of salty snacks, including potato chips, pretzels, cheese snacks, veggie snacks, pork skins, pub/party mixes, and other snacks under the Utz, Zapp's, Golden Flake, Good Health, Boulder Canyon, Hawaiian, and TORTIYAHS brands.

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