Amplify Snack Brands Inc. (BETR) Stock Rating Lowered 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 research analysts have also weighed in on BETR. DA Davidson increased their price objective on Amplify Snack Brands from $18.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, August 9th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $19.00 price objective on shares of Amplify Snack Brands in a report on Thursday, August 11th. Finally, Oppenheimer Holdings Inc. increased their price objective 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 investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company 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% on Thursday, reaching $15.45. The company had a trading volume of 356,251 shares. The stock has a market capitalization of $1.09 billion, a P/E ratio of 64.11 and a beta of 2.59. The stock’s 50 day moving average is $16.27 and its 200-day moving average is $14.78. Amplify Snack Brands has a 1-year low of $9.15 and a 1-year high of $17.53.
Amplify Snack Brands (NYSE:BETR) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates 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 return on equity of 233.97% and a net margin of 9.00%. Amplify Snack Brands’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, equities analysts predict that Amplify Snack Brands will post $0.61 EPS for the current fiscal year.
In related news, EVP Jason Shiver sold 20,000 shares of the firm’s stock in a transaction dated Friday, September 30th. The stock was sold at an average price of $16.04, for a total transaction of $320,800.00. Following the sale, the executive vice president now directly owns 1,211,456 shares of the company’s stock, valued at $19,431,754.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Pamela L. Netzky sold 42,000 shares of the firm’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $15.51, for a total value of $651,420.00. The disclosure for this sale can be found here. Corporate insiders own 74.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Amplify Snack Brands by 159.7% in the second quarter. Vanguard Group Inc. now owns 2,919,715 shares of the company’s stock worth $43,066,000 after buying an additional 1,795,594 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Amplify Snack Brands during the second quarter worth about $40,348,000. Copper Rock Capital Partners LLC increased its position in shares of Amplify Snack Brands by 40.8% in the second quarter. Copper Rock Capital Partners LLC now owns 1,942,433 shares of the company’s stock worth $28,651,000 after buying an additional 562,708 shares in the last quarter. Janus Capital Management LLC increased its position in shares of Amplify Snack Brands by 28.1% in the second quarter. Janus Capital Management LLC now owns 1,787,078 shares of the company’s stock worth $26,359,000 after buying an additional 392,178 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its position in shares of Amplify Snack Brands by 581.5% in the second quarter. Loomis Sayles & Co. L P now owns 1,176,934 shares of the company’s stock worth $17,360,000 after buying an additional 1,004,234 shares in the last quarter. 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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