Amplify Snack Brands Inc. (BETR) Releases FY16 Earnings Guidance
Amplify Snack Brands Inc. (NYSE:BETR) updated its FY16 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.49-0.51 for the period, compared to the Thomson Reuters consensus estimate of $0.61. The company issued revenue guidance of $268-272 million, compared to the consensus revenue estimate of $268.39 million.
A number of analysts have commented on the stock. Piper Jaffray Cos. reaffirmed an overweight rating and set a $19.00 price objective on shares of Amplify Snack Brands in a research note on Thursday, August 11th. Zacks Investment Research raised shares of Amplify Snack Brands from a sell rating to a hold rating in a research note on Tuesday, August 2nd. DA Davidson upped their price objective on shares of Amplify Snack Brands from $18.00 to $19.00 and gave the company a buy rating in a research note on Tuesday, August 9th. Goldman Sachs Group Inc. downgraded Amplify Snack Brands from a buy rating to a neutral rating and upped their target price for the company from $15.45 to $18.00 in a report on Friday, October 14th. Finally, Oppenheimer Holdings Inc. upped their target price on Amplify Snack Brands from $19.00 to $20.00 and gave the company an outperform rating in a report on Wednesday, September 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Amplify Snack Brands presently has an average rating of Buy and a consensus target price of $18.50.
Amplify Snack Brands Inc. (NYSE:BETR) opened at 13.47 on Tuesday. The firm has a market cap of $954.24 million, a P/E ratio of 55.89 and a beta of 2.68. The company has a 50-day moving average price of $15.03 and a 200-day moving average price of $14.78. Amplify Snack Brands Inc. has a 12-month low of $9.15 and a 12-month high of $17.53.
Amplify Snack Brands (NYSE:BETR) last posted its earnings results on Monday, November 14th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by $0.03. The business had revenue of $68 million for the quarter, compared to analyst estimates of $64.19 million. Amplify Snack Brands had a return on equity of 233.97% and a net margin of 9.00%. The firm’s revenue was up 48.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 earnings per share. On average, analysts predict that Amplify Snack Brands Inc. will post $0.61 earnings per share for the current year.
In related news, 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 transaction of $136,038.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 directly owns 2,889,827 shares in the company, valued at $47,306,467.99. The disclosure for this sale can be found here. Corporate insiders own 74.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its stake in 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 valued at $15,673,000 after buying an additional 421,542 shares during the period. 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 during the period. BlackRock Advisors LLC increased its stake in Amplify Snack Brands by 546.5% in the second quarter. BlackRock Advisors LLC now owns 29,159 shares of the company’s stock valued at $430,000 after buying an additional 24,649 shares during the period. BlackRock Investment Management LLC increased its stake in Amplify Snack Brands by 108.7% in the second quarter. BlackRock Investment Management LLC now owns 108,938 shares of the company’s stock valued at $1,607,000 after buying an additional 56,728 shares during the period. Finally, BlackRock Inc. increased its stake in 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 during the period. 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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