Amplify Snack Brands Inc. (BETR) Upgraded to Buy by Zacks Investment Research
Amplify Snack Brands Inc. (NYSE:BETR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm presently has a $17.00 price objective on the stock. Zacks Investment Research’s target price suggests a potential upside of 13.03% from the stock’s current price.
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. “
A number of other equities analysts have also weighed in on the company. Piper Jaffray Cos. reiterated an “overweight” rating and set a $18.00 price objective on shares of Amplify Snack Brands in a research note on Saturday, July 2nd. Goldman Sachs Group Inc. lowered Amplify Snack Brands from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $15.45 to $18.00 in a research note on Friday. Oppenheimer Holdings Inc. lifted their price objective on Amplify Snack Brands from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, September 7th. Finally, DA Davidson lifted their price objective on Amplify Snack Brands from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $18.14.
Shares of Amplify Snack Brands (NYSE:BETR) traded down 0.79% during trading on Tuesday, reaching $15.04. The company had a trading volume of 462,498 shares. Amplify Snack Brands has a 52 week low of $9.15 and a 52 week high of $17.53. The stock’s 50-day moving average price is $16.21 and its 200-day moving average price is $14.81. The company has a market capitalization of $1.07 billion, a PE ratio of 62.41 and a beta of 2.59.
Amplify Snack Brands (NYSE:BETR) last released its quarterly earnings data on Monday, August 8th. The company reported $0.15 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.15. The business earned $59.90 million during the quarter, compared to analyst estimates of $47.40 million. Amplify Snack Brands had a return on equity of 233.97% and a net margin of 9.00%. The company’s 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 EPS for the current fiscal year.
In other news, Director Pamela L. Netzky sold 42,000 shares of the business’s 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas C. Ennis sold 43,000 shares of the business’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $16.37, for a total value of $703,910.00. Following the transaction, the chief executive officer now owns 2,889,827 shares in the company, valued at $47,306,467.99. The disclosure for this sale can be found here. Company insiders own 74.70% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Smith Asset Management Group LP bought a new position in shares of Amplify Snack Brands during the second quarter valued at $1,846,000. Stoneridge Investment Partners LLC boosted its position in shares of Amplify Snack Brands by 8.3% in the second quarter. Stoneridge Investment Partners LLC now owns 153,282 shares of the company’s stock valued at $2,261,000 after buying an additional 11,693 shares in the last quarter. Copper Rock Capital Partners LLC boosted its position in shares of 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. First National Bank of Omaha bought a new position in shares of Amplify Snack Brands during the second quarter valued at $728,000. Finally, GW&K Investment Management LLC bought a new position in shares of Amplify Snack Brands during the second quarter valued at $17,321,000. Institutional investors and hedge funds own 90.25% 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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