Amplify Snack Brands Inc. (BETR) Lowered to “Neutral” at Goldman Sachs Group Inc.
Amplify Snack Brands Inc. (NYSE:BETR) was downgraded by research analysts at Goldman Sachs Group Inc. to a “neutral” rating in a note issued to investors on Friday.
Several other research firms have also commented on BETR. Zacks Investment Research raised shares of Amplify Snack Brands from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd. 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. 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, Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $18.00 price target on shares of Amplify Snack Brands in a report on Saturday, July 2nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $18.17.
Amplify Snack Brands (NYSE:BETR) opened at 15.45 on Friday. Amplify Snack Brands has a one year low of $9.15 and a one year high of $17.53. The company has a 50-day moving average of $16.27 and a 200 day moving average of $14.78. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 64.11 and a beta of 2.59.
Amplify Snack Brands (NYSE:BETR) last released its earnings results on Monday, August 8th. The company reported $0.15 EPS for the quarter, meeting the consensus estimate of $0.15. Amplify Snack Brands had a net margin of 9.00% and a return on equity of 233.97%. The firm had revenue of $59.90 million for the quarter, compared to analyst estimates of $47.40 million. The firm’s quarterly revenue was up 26.4% on a year-over-year basis. On average, analysts anticipate that Amplify Snack Brands will post $0.61 EPS for the current year.
In related 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 sale, the executive vice president now directly owns 1,211,456 shares in the company, valued at approximately $19,431,754.24. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 stock was 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. Corporate insiders own 74.70% of the company’s stock.
Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new stake in Amplify Snack Brands during the second quarter valued at approximately $40,348,000. Vanguard Group Inc. increased its stake in Amplify Snack Brands by 159.7% in the second quarter. Vanguard Group Inc. now owns 2,919,715 shares of the company’s stock valued at $43,066,000 after buying an additional 1,795,594 shares in the last quarter. GW&K Investment Management LLC acquired a new stake in Amplify Snack Brands during the second quarter valued at approximately $17,321,000. Loomis Sayles & Co. L P increased its stake in Amplify Snack Brands by 581.5% in the second quarter. Loomis Sayles & Co. L P now owns 1,176,934 shares of the company’s stock valued at $17,360,000 after buying an additional 1,004,234 shares in the last quarter. Finally, Copper Rock Capital Partners LLC increased 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 valued at $28,651,000 after buying an additional 562,708 shares in the last quarter. Institutional investors and hedge funds own 90.99% of the company’s stock.
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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