Amplify Snack Brands Inc. (BETR) Downgraded by Zacks Investment Research
Amplify Snack Brands Inc. (NYSE:BETR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
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. “
A number of other brokerages have also commented on BETR. Oppenheimer Holdings Inc. boosted their price objective 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. DA Davidson boosted their price objective 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. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $18.00 price objective on shares of Amplify Snack Brands in a report on Saturday, July 2nd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Amplify Snack Brands has a consensus rating of “Buy” and an average target price of $18.17.
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Amplify Snack Brands (NYSE:BETR) traded down 1.09% during trading on Thursday, hitting $15.45. The company had a trading volume of 356,251 shares. The company’s 50 day moving average price is $16.27 and its 200-day moving average price is $14.78. Amplify Snack Brands has a 12 month low of $9.15 and a 12 month high of $17.53. The company has a market cap of $1.09 billion, a PE ratio of 64.11 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 EPS for the quarter, hitting analysts’ consensus estimates of $0.15. Amplify Snack Brands had a net margin of 9.00% and a return on equity of 233.97%. The firm had revenue of $59.90 million for the quarter, compared to analyst estimates of $47.40 million. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. Equities analysts expect that Amplify Snack Brands will post $0.61 earnings per share for the current year.
In other news, Director Pamela L. Netzky sold 42,000 shares of the company’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $15.51, for a total value of $651,420.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Thomas C. Ennis sold 43,000 shares of the company’s stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $16.37, for a total transaction of $703,910.00. Following the completion of the sale, the chief executive officer now owns 2,889,827 shares in the company, valued at approximately $47,306,467.99. The disclosure for this sale can be found here. 74.70% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Stoneridge Investment Partners LLC raised 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 valued at $2,261,000 after buying an additional 11,693 shares during the period. Prudential Financial Inc. acquired a new stake in Amplify Snack Brands during the first quarter valued at $1,489,000. Cortina Asset Management LLC acquired a new stake in Amplify Snack Brands during the second quarter valued at $7,690,000. Bayesian Capital Management LP acquired a new stake in Amplify Snack Brands during the first quarter valued at $156,000. Finally, Kennedy Capital Management Inc. acquired a new stake in Amplify Snack Brands during the first quarter valued at $1,888,000. Hedge funds and other institutional investors own 90.99% 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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