Amplify Snack Brands Inc. (BETR) Downgraded by Zacks Investment Research to “Hold”
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. “
BETR has been the subject of several other reports. Piper Jaffray Cos. restated an overweight rating and set a $19.00 target price on shares of Amplify Snack Brands in a report on Thursday, August 11th. Oppenheimer Holdings Inc. raised their target price on shares of Amplify Snack Brands from $19.00 to $20.00 and gave the company an outperform rating in a report on Wednesday, September 7th. Finally, DA Davidson raised their target price on shares of Amplify Snack Brands from $18.00 to $19.00 and gave the company a buy rating in a report on Tuesday, August 9th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Amplify Snack Brands presently has a consensus rating of Buy and an average target price of $18.14.
Amplify Snack Brands (NYSE:BETR) traded down 2.27% during midday trading on Thursday, hitting $15.10. 790,455 shares of the stock were exchanged. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 62.66 and a beta of 2.59. The firm has a 50 day moving average of $16.27 and a 200-day moving average of $14.78. Amplify Snack Brands has a 12-month low of $9.15 and a 12-month high of $17.53.
Amplify Snack Brands (NYSE:BETR) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting 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 net margin of 9.00% and a return on equity of 233.97%. The business’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, equities analysts expect that Amplify Snack Brands will post $0.61 earnings per share for the current year.
In other Amplify Snack Brands news, EVP Jason Shiver sold 20,000 shares of Amplify Snack Brands stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $16.04, for a total transaction of $320,800.00. Following 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Pamela L. Netzky sold 42,000 shares of Amplify Snack Brands stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $15.51, for a total transaction of $651,420.00. The disclosure for this sale can be found here. Company insiders own 74.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in BETR. Smith Asset Management Group LP purchased a new stake in Amplify Snack Brands during the second quarter worth about $1,846,000. Stoneridge Investment Partners LLC raised its stake in Amplify Snack Brands by 8.3% in the second quarter. Stoneridge Investment Partners LLC now owns 153,282 shares of the company’s stock worth $2,261,000 after buying an additional 11,693 shares in the last quarter. Copper Rock Capital Partners LLC raised its stake in Amplify Snack Brands by 40.8% in the second quarter. Copper Rock Capital Partners LLC now owns 1,942,433 shares of the company’s stock worth $28,651,000 after buying an additional 562,708 shares in the last quarter. First National Bank of Omaha purchased a new stake in Amplify Snack Brands during the second quarter worth about $728,000. Finally, GW&K Investment Management LLC purchased a new stake in Amplify Snack Brands during the second quarter worth about $17,321,000. 90.99% of the stock is currently owned by hedge funds and other institutional investors.
About Amplify Snack Brands
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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