Amplify Snack Brands Inc. (BETR) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Amplify Snack Brands Inc. (NYSE:BETR) from a hold rating to a buy rating in a report issued on Wednesday morning. They currently have $17.00 price target on the stock.
According to Zacks, “Amplify Snack Brands, Inc. is a snack food company. The Company’s brand consists of SkinnyPop is a popcorn brand. SkinnyPop product portfolio consists of flavors which include original, black pepper, white cheddar flavor and naturally sweet. It is engaged in marketing and distribution of better-for-you and ready-to-eat snacking products. The company serves natural and conventional grocery, drug, convenience, club, mass merchandise channels as well as foodservice and other non-food retail channels; over the Internet through third-party Websites. Amplify Snack Brands, Inc. is headquartered in Austin, Texas. “
Other research analysts also recently issued reports about the company. DA Davidson increased their price objective on Amplify Snack Brands from $18.00 to $19.00 and gave the stock a buy rating in a report on Tuesday, August 9th. Oppenheimer Holdings Inc. increased their price objective on Amplify Snack Brands from $19.00 to $20.00 and gave the stock an outperform rating in a report on Wednesday, September 7th. Finally, Piper Jaffray Cos. reiterated an overweight rating and set a $19.00 price objective on shares of Amplify Snack Brands in a report on Thursday, August 11th. Seven analysts have rated the stock with a buy rating, The company has a consensus rating of Buy and an average price target of $18.17.
Shares of Amplify Snack Brands (NYSE:BETR) traded down 1.73% on Wednesday, hitting $15.35. The stock had a trading volume of 38,694 shares. The stock’s 50-day moving average price is $16.27 and its 200 day moving average price is $14.78. Amplify Snack Brands has a 52 week low of $9.15 and a 52 week high of $17.53. The company has a market cap of $1.09 billion, a PE ratio of 63.69 and a beta of 2.59.
Amplify Snack Brands (NYSE:BETR) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.15. The business earned $59.90 million during the quarter, compared to the consensus estimate of $47.40 million. Amplify Snack Brands had a return on equity of 233.97% and a net margin of 9.00%. Amplify Snack Brands’s revenue was up 26.4% on a year-over-year basis. On average, analysts predict that Amplify Snack Brands will post $0.61 EPS for the current year.
In other Amplify Snack Brands news, Director Pamela L. Netzky sold 10,500 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $16.20, for a total transaction of $170,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jason Shiver sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $16.04, for a total value of $320,800.00. Following the completion of the transaction, the executive vice president now directly owns 1,211,456 shares of the company’s stock, valued at $19,431,754.24. The disclosure for this sale can be found here. Corporate insiders own 74.70% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. raised its position in Amplify Snack Brands by 13.9% in the second quarter. Sei Investments Co. now owns 8,931 shares of the company’s stock valued at $132,000 after buying an additional 1,089 shares in the last quarter. Quantitative Systematic Strategies LLC raised its position in shares of Amplify Snack Brands by 12.1% in the second quarter. Quantitative Systematic Strategies LLC now owns 11,438 shares of the company’s stock valued at $163,000 after buying an additional 1,237 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of Amplify Snack Brands by 2.0% in the second quarter. Parametric Portfolio Associates LLC now owns 70,481 shares of the company’s stock valued at $1,040,000 after buying an additional 1,350 shares during the period. Coe Capital Management LLC raised its position in shares of Amplify Snack Brands by 7.1% in the second quarter. Coe Capital Management LLC now owns 37,500 shares of the company’s stock valued at $553,000 after buying an additional 2,500 shares during the period. Finally, BlackRock Inc. raised its position in shares of Amplify Snack Brands by 332.7% in the second quarter. BlackRock Inc. now owns 7,603 shares of the company’s stock valued at $112,000 after buying an additional 5,846 shares during the period. 90.99% of the stock is owned by institutional investors.
Amplify Snack Brands Company Profile
Amplify Snack Brands, Inc is a snack food company. The Company and its subsidiaries are focused on developing and marketing products that appeal to consumers’ preference for Better-For-You (BFY) snacks. Its BFY-focused snacking platform consists of two brands: SkinnyPop and Paqui. Its anchor brand, SkinnyPop, is a BFY ready-to-eat (RTE) popcorn brand.
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