Amplify Snack Brands (BETR) Upgraded to Hold by Zacks Investment Research
Zacks Investment Research upgraded shares of Amplify Snack Brands (NYSE:BETR) from a sell rating to a hold rating in a report published on Tuesday morning.
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. “
Several other equities research analysts also recently weighed in on BETR. Credit Suisse Group decreased their price target on Amplify Snack Brands from $9.00 to $7.00 and set a neutral rating for the company in a report on Wednesday, September 27th. William Blair downgraded Amplify Snack Brands from an outperform rating to a market perform rating in a report on Monday, December 18th. SunTrust Banks downgraded Amplify Snack Brands from a buy rating to a hold rating in a report on Wednesday, November 8th. Jefferies Group set a $10.00 price target on Amplify Snack Brands and gave the stock a buy rating in a report on Monday, October 30th. Finally, Berenberg Bank started coverage on Amplify Snack Brands in a report on Thursday, November 16th. They set a hold rating and a $5.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $8.75.
Amplify Snack Brands (NYSE:BETR) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.02). Amplify Snack Brands had a return on equity of 25.78% and a net margin of 2.92%. The company had revenue of $94.86 million for the quarter, compared to analyst estimates of $97.70 million. During the same period in the prior year, the business earned $0.12 earnings per share. Amplify Snack Brands’s revenue for the quarter was up 39.5% compared to the same quarter last year. equities analysts anticipate that Amplify Snack Brands will post 0.26 earnings per share for the current fiscal year.
In other Amplify Snack Brands news, insider Brian Goldberg sold 40,000 shares of the firm’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $7.00, for a total value of $280,000.00. Following the completion of the sale, the insider now owns 1,273,866 shares of the company’s stock, valued at $8,917,062. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 57.40% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its stake in shares of Amplify Snack Brands by 1.7% during the 2nd quarter. California State Teachers Retirement System now owns 58,612 shares of the company’s stock worth $565,000 after buying an additional 1,000 shares during the last quarter. Nationwide Fund Advisors increased its position in Amplify Snack Brands by 8.3% during the 2nd quarter. Nationwide Fund Advisors now owns 18,094 shares of the company’s stock worth $174,000 after purchasing an additional 1,391 shares in the last quarter. Victory Capital Management Inc. increased its position in Amplify Snack Brands by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 11,124 shares of the company’s stock worth $107,000 after purchasing an additional 1,667 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Amplify Snack Brands by 15.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,547 shares of the company’s stock worth $275,000 after purchasing an additional 3,899 shares in the last quarter. Finally, Rhumbline Advisers increased its position in Amplify Snack Brands by 14.8% during the 2nd quarter. Rhumbline Advisers now owns 36,328 shares of the company’s stock worth $350,000 after purchasing an additional 4,675 shares in the last quarter. 97.15% of the stock is owned by institutional investors and hedge funds.
Amplify Snack Brands Company Profile
Amplify Snack Brands, Inc is a snack food company focused on developing and marketing products that appeal to consumers’ growing preference for better-for-you (BFY) snacks. The Company’s segments are North America and International. The North America and International segments both operate in the snack food category and whose brands and products are offered in the natural and conventional grocery, drug, convenience, food service, club, mass merchandise and other channels.
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