Amplify Snack Brands Inc. (BETR) Lifted to Buy at 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 note issued to investors on Wednesday. The brokerage presently has a $17.00 price objective on the stock. Zacks Investment Research’s price objective points to a potential upside of 8.83% from the stock’s previous close.
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 brokerages also recently issued reports on BETR. Oppenheimer Holdings Inc. boosted their price objective on Amplify Snack Brands from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 7th. DA Davidson boosted their price objective on Amplify Snack Brands from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, August 9th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $18.00 price objective on shares of Amplify Snack Brands in a research report on Saturday, July 2nd. Seven investment analysts have rated the stock with a buy rating, Amplify Snack Brands currently has an average rating of “Buy” and an average price target of $18.17.
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Amplify Snack Brands (NYSE:BETR) traded up 0.19% during trading on Wednesday, reaching $15.62. The company’s stock had a trading volume of 354,188 shares. The firm has a 50-day moving average price of $16.28 and a 200-day moving average price of $14.77. Amplify Snack Brands has a 52 week low of $9.15 and a 52 week high of $17.53. The firm has a market capitalization of $1.11 billion, a P/E ratio of 64.81 and a beta of 2.59.
Amplify Snack Brands (NYSE:BETR) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. The business earned $59.90 million during the quarter, compared to the consensus estimate of $47.40 million. Amplify Snack Brands had a return on equity of 233.97% and a net margin of 9.00%. Amplify Snack Brands’s quarterly revenue was up 26.4% on a year-over-year basis. On average, equities analysts anticipate that Amplify Snack Brands will post $0.61 EPS for the current fiscal year.
In other news, EVP Jason Shiver sold 20,000 shares of the stock in a transaction on Friday, September 30th. The stock was sold at an average price of $16.04, for a total transaction of $320,800.00. Following the completion of the sale, the executive vice president now owns 1,211,456 shares in the company, valued at approximately $19,431,754.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Pamela L. Netzky sold 10,500 shares of the stock in a transaction on Monday, September 12th. The shares were sold at an average price of $16.20, for a total value of $170,100.00. The disclosure for this sale can be found here. 74.70% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Stoneridge Investment Partners LLC increased its stake 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 worth $2,261,000 after buying an additional 11,693 shares during the period. Prudential Financial Inc. bought a new stake in shares of Amplify Snack Brands during the first quarter worth approximately $1,489,000. State Street Corp increased its stake in shares of Amplify Snack Brands by 9.0% in the first quarter. State Street Corp now owns 209,596 shares of the company’s stock worth $3,001,000 after buying an additional 17,304 shares during the period. Cortina Asset Management LLC bought a new stake in shares of Amplify Snack Brands during the second quarter worth approximately $7,690,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Amplify Snack Brands during the first quarter worth approximately $156,000. Institutional investors own 90.99% 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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