Amplify Snack Brands Inc. (BETR) Lowered to “Neutral” at Goldman Sachs Group Inc.
Amplify Snack Brands Inc. (NYSE:BETR) was downgraded by research analysts at Goldman Sachs Group Inc. to a “neutral” rating in a research note issued to investors on Friday.
A number of other brokerages have also recently commented on BETR. Oppenheimer Holdings Inc. increased their price target on shares of Amplify Snack Brands from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, September 7th. Zacks Investment Research upgraded shares of Amplify Snack Brands from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Wednesday. Piper Jaffray Cos. reiterated an “overweight” rating and set a $18.00 price target on shares of Amplify Snack Brands in a research report on Saturday, July 2nd. Finally, DA Davidson increased their price target on shares of Amplify Snack Brands from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Amplify Snack Brands presently has an average rating of “Buy” and an average price target of $18.17.
Shares of Amplify Snack Brands (NYSE:BETR) opened at 15.45 on Friday. The stock has a 50 day moving average of $16.27 and a 200 day moving average of $14.78. Amplify Snack Brands has a 1-year low of $9.15 and a 1-year high of $17.53. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 64.11 and a beta of 2.59.
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Amplify Snack Brands (NYSE:BETR) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.15 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. The company had revenue of $59.90 million for the quarter, compared to analysts’ expectations of $47.40 million. Amplify Snack Brands had a net margin of 9.00% and a return on equity of 233.97%. Amplify Snack Brands’s revenue for the quarter was up 26.4% on a year-over-year basis. Analysts predict that Amplify Snack Brands will post $0.61 EPS for the current year.
In related news, CEO Thomas C. Ennis sold 43,000 shares of the firm’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $16.37, for a total value of $703,910.00. Following the completion of the sale, the chief executive officer now owns 2,889,827 shares of the company’s stock, valued at $47,306,467.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pamela L. Netzky sold 42,000 shares of the firm’s stock in a transaction on 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. Insiders own 74.70% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake 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 during the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Amplify Snack Brands during the second quarter worth approximately $40,348,000. Copper Rock Capital Partners LLC raised its stake 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 during the last quarter. Janus Capital Management LLC raised its stake 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 during the last quarter. Finally, Loomis Sayles & Co. L P raised its stake 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 during the last quarter. 90.99% of the stock is owned by institutional investors.
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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