Amplify Snack Brands Inc. (BETR) Issues Earnings Results
Amplify Snack Brands Inc. (NYSE:BETR) released its quarterly earnings results on Monday. The company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.03. The firm earned $68 million during the quarter, compared to analyst estimates of $64.19 million. Amplify Snack Brands had a net margin of 9.00% and a return on equity of 233.97%. Amplify Snack Brands’s quarterly revenue was up 48.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.12 earnings per share. Amplify Snack Brands updated its FY16 guidance to $0.49-0.51 EPS.
Shares of Amplify Snack Brands (NYSE:BETR) opened at 13.47 on Tuesday. The company’s 50 day moving average is $15.03 and its 200-day moving average is $14.78. The company 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 1-year low of $9.15 and a 1-year high of $17.53.
In other Amplify Snack Brands news, insider Jason Shiver sold 20,000 shares of the stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $14.48, for a total transaction of $289,600.00. Following the sale, the insider now directly owns 1,191,456 shares in the company, valued at $17,252,282.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew S. Friedman sold 8,200 shares of the stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $16.59, for a total transaction of $136,038.00. The disclosure for this sale can be found here. Company insiders own 74.70% of the company’s stock.
Large investors have recently made changes to their positions in the company. GW&K Investment Management LLC purchased a new stake in shares of Amplify Snack Brands during the second quarter worth about $17,321,000. American Century Companies Inc. increased its stake in shares of Amplify Snack Brands by 65.8% in the second quarter. American Century Companies Inc. now owns 1,062,564 shares of the company’s stock worth $15,673,000 after buying an additional 421,542 shares during the last quarter. Boston Advisors LLC purchased a new stake in shares of Amplify Snack Brands during the second quarter worth about $516,000. Smith Asset Management Group LP purchased a new stake in shares of Amplify Snack Brands during the second quarter worth about $1,846,000. Finally, Stoneridge Investment Partners LLC increased 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 during the last quarter. Hedge funds and other institutional investors own 88.04% of the company’s stock.
A number of research firms have commented on BETR. Goldman Sachs Group Inc. lowered shares of Amplify Snack Brands from a “buy” rating to a “neutral” rating and boosted their price target for the company from $15.45 to $18.00 in a research report on Friday, October 14th. Zacks Investment Research downgraded shares of Amplify Snack Brands from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $19.00 target price on shares of Amplify Snack Brands in a research note on Thursday, August 11th. Oppenheimer Holdings Inc. boosted their target price on shares of Amplify Snack Brands from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 7th. Finally, DA Davidson boosted their target price on shares of Amplify Snack Brands from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, August 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $18.50.
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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