Amplify Snack Brands Inc. (BETR) Upgraded to “Buy” by 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 report issued on Wednesday. The firm currently has a $17.00 price objective on the stock. Zacks Investment Research’s price target would suggest a potential upside of 8.83% from the company’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. “
BETR has been the topic of a number of other reports. 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 report on Wednesday, September 7th. Piper Jaffray Cos. restated an “overweight” rating and set a $18.00 target price on shares of Amplify Snack Brands in a report on Saturday, July 2nd. 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 report on Tuesday, August 9th. Seven research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $18.17.
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Shares of Amplify Snack Brands (NYSE:BETR) traded up 0.19% on Wednesday, hitting $15.62. 354,188 shares of the stock traded hands. The firm’s 50 day moving average is $16.28 and its 200 day moving average is $14.77. The firm has a market capitalization of $1.11 billion, a PE ratio of 64.81 and a beta of 2.59. Amplify Snack Brands has a 52 week low of $9.15 and a 52 week high of $17.53.
Amplify Snack Brands (NYSE:BETR) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.15 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.15. The business had revenue of $59.90 million for the quarter, compared to analyst estimates of $47.40 million. Amplify Snack Brands had a net margin of 9.00% and a return on equity of 233.97%. The business’s quarterly revenue was up 26.4% on a year-over-year basis. On average, analysts expect that Amplify Snack Brands will post $0.61 EPS for the current fiscal year.
In other Amplify Snack Brands news, Director Pamela L. Netzky sold 42,000 shares of the company’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $15.51, for a total value of $651,420.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jason Shiver sold 20,000 shares of the company’s stock in a transaction on Friday, September 30th. The shares were sold at an average price of $16.04, for a total transaction of $320,800.00. Following the completion of the transaction, the executive vice president now owns 1,211,456 shares in the company, valued at $19,431,754.24. The disclosure for this sale can be found here. 74.70% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position 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 in the last quarter. Royal Bank of Canada increased its position in Amplify Snack Brands by 863,500.0% in the first quarter. Royal Bank of Canada now owns 8,636 shares of the company’s stock valued at $124,000 after buying an additional 8,635 shares during the period. Legal & General Group Plc acquired a new position in Amplify Snack Brands during the second quarter valued at approximately $127,000. Sei Investments Co. increased its position in Amplify Snack Brands by 13.9% in the second quarter. Sei Investments Co. now owns 8,931 shares of the company’s stock valued at $132,000 after buying an additional 1,089 shares during the period. Finally, Bayesian Capital Management LP acquired a new position in Amplify Snack Brands during the first quarter valued at approximately $156,000. Hedge funds and other 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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