Amplify Snack Brands Inc. (BETR) Downgraded by Credit Suisse Group AG
Amplify Snack Brands Inc. (NYSE:BETR) was downgraded by stock analysts at Credit Suisse Group AG from an “outperform” rating to a “neutral” rating in a note issued to investors on Tuesday.
BETR has been the subject of several other reports. Zacks Investment Research raised Amplify Snack Brands from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd. DA Davidson boosted their price objective on 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. boosted their price objective on Amplify Snack Brands from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, September 7th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $19.00 price objective on shares of Amplify Snack Brands in a report on Thursday, August 11th. Finally, Goldman Sachs Group Inc. lowered Amplify Snack Brands from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $15.45 to $18.00 in a report on Friday, October 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $18.50.
Amplify Snack Brands (NYSE:BETR) opened at 13.47 on Tuesday. The stock has a market capitalization of $954.24 million, a P/E ratio of 55.89 and a beta of 2.68. 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 $15.10 and its 200-day moving average price is $14.80.
Amplify Snack Brands (NYSE:BETR) last announced its earnings results on Monday, November 14th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.03. Amplify Snack Brands had a return on equity of 233.97% and a net margin of 9.00%. The business had revenue of $68 million for the quarter, compared to analysts’ expectations of $64.19 million. During the same period in the previous year, the firm posted $0.12 earnings per share. The firm’s revenue was up 48.1% compared to the same quarter last year. Equities research analysts expect that Amplify Snack Brands will post $0.61 earnings per share for the current year.
In other news, insider Jason Shiver sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $14.48, for a total transaction of $289,600.00. Following the completion of the transaction, the insider now directly owns 1,191,456 shares in the company, valued at $17,252,282.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Andrew S. Friedman sold 8,200 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $16.59, for a total value of $136,038.00. The disclosure for this sale can be found here. 74.70% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Great West Life Assurance Co. Can acquired a new position in shares of Amplify Snack Brands during the third quarter valued at about $102,000. BlackRock Inc. increased 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 in the last quarter. SG Americas Securities LLC acquired a new position in shares of Amplify Snack Brands during the third quarter valued at about $119,000. Legal & General Group Plc acquired a new position in shares of Amplify Snack Brands during the second quarter valued at about $127,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Amplify Snack Brands by 121.1% in the third quarter. PNC Financial Services Group Inc. now owns 8,017 shares of the company’s stock valued at $130,000 after buying an additional 4,391 shares in the last quarter. Institutional investors and hedge funds own 88.04% of the company’s stock.
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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