SunTrust Banks Reaffirms Buy Rating for Amplify Snack Brands (BETR)
Amplify Snack Brands (NYSE:BETR)‘s stock had its “buy” rating reaffirmed by investment analysts at SunTrust Banks in a research report issued to clients and investors on Wednesday, The Fly reports. They currently have a $12.00 target price on the stock, up from their previous target price of $6.00. SunTrust Banks’ target price would suggest a potential downside of 0.66% from the stock’s previous close.
Other research analysts have also issued reports about the company. Zacks Investment Research upgraded Amplify Snack Brands from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. BidaskClub lowered Amplify Snack Brands from a “hold” rating to a “sell” rating in a report on Saturday, October 28th. William Blair lowered Amplify Snack Brands from an “outperform” rating to a “market perform” rating in a report on Monday, December 18th. Oppenheimer reiterated a “hold” rating on shares of Amplify Snack Brands in a report on Wednesday, December 13th. Finally, Jefferies Group set a $10.00 target price on Amplify Snack Brands and gave the company a “buy” rating in a report on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $9.93.
Shares of Amplify Snack Brands (BETR) traded up $0.02 during midday trading on Wednesday, hitting $12.08. The stock had a trading volume of 785,583 shares, compared to its average volume of 3,040,000. Amplify Snack Brands has a twelve month low of $4.78 and a twelve month high of $12.32. The company has a debt-to-equity ratio of 6.51, a current ratio of 1.34 and a quick ratio of 0.94. The firm has a market capitalization of $927.09 and a PE ratio of 100.67.
In other Amplify Snack Brands news, insider Brian Goldberg sold 40,000 shares of Amplify Snack Brands stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $7.00, for a total transaction of $280,000.00. Following the completion of the sale, the insider now directly owns 1,273,866 shares of the company’s stock, valued at approximately $8,917,062. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 57.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in BETR. Cambridge Investment Research Advisors Inc. purchased a new stake in Amplify Snack Brands during the 3rd quarter worth about $102,000. Victory Capital Management Inc. lifted its holdings in Amplify Snack Brands by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 11,124 shares of the company’s stock worth $107,000 after buying an additional 1,667 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Amplify Snack Brands during the 2nd quarter worth about $119,000. Nationwide Fund Advisors lifted its holdings in Amplify Snack Brands by 8.3% during the 2nd quarter. Nationwide Fund Advisors now owns 18,094 shares of the company’s stock worth $174,000 after buying an additional 1,391 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in Amplify Snack Brands by 63.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 19,085 shares of the company’s stock worth $184,000 after buying an additional 7,438 shares during the last quarter. 97.15% of the stock is owned by institutional investors.
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About Amplify Snack Brands
Amplify Snack Brands, Inc is a snack food company focused on developing and marketing products that appeal to consumers’ growing preference for better-for-you (BFY) snacks. The Company’s segments are North America and International. The North America and International segments both operate in the snack food category and whose brands and products are offered in the natural and conventional grocery, drug, convenience, food service, club, mass merchandise and other channels.
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