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 research note issued on Tuesday. The brokerage currently has a $17.00 target price on the stock. Zacks Investment Research’s target price would suggest a potential upside of 13.03% 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 research analysts also recently issued reports on the stock. Piper Jaffray Cos. reiterated an “overweight” rating and set a $18.00 price target on shares of Amplify Snack Brands in a report on Saturday, July 2nd. Goldman Sachs Group Inc. downgraded Amplify Snack Brands from a “buy” rating to a “neutral” rating and increased their price objective for the company from $15.45 to $18.00 in a report on Friday. 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. Finally, 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. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Amplify Snack Brands currently has a consensus rating of “Buy” and a consensus price target of $18.14.
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Shares of Amplify Snack Brands (NYSE:BETR) traded down 0.79% during mid-day trading on Tuesday, hitting $15.04. The stock had a trading volume of 462,498 shares. The firm’s 50 day moving average price is $16.21 and its 200 day moving average price is $14.81. 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 $1.07 billion, a P/E ratio of 62.41 and a beta of 2.59.
Amplify Snack Brands (NYSE:BETR) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.15. The company earned $59.90 million during the quarter, compared to the consensus estimate of $47.40 million. Amplify Snack Brands had a net margin of 9.00% and a return on equity of 233.97%. The firm’s revenue for the quarter was up 26.4% compared to the same quarter last year. Analysts predict that Amplify Snack Brands will post $0.61 earnings per share for the current fiscal year.
In other Amplify Snack Brands news, EVP Jason Shiver sold 20,000 shares of the 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 completion of the sale, the executive vice president now directly owns 1,211,456 shares in the company, valued at approximately $19,431,754.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew S. Friedman sold 8,200 shares of the stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $16.59, for a total value of $136,038.00. The disclosure for this sale can be found here. Company insiders own 74.70% of the company’s stock.
Hedge funds have recently modified their holdings of the company. First National Bank of Omaha increased its stake in shares of Amplify Snack Brands by 12.4% in the third quarter. First National Bank of Omaha now owns 55,485 shares of the company’s stock worth $899,000 after buying an additional 6,110 shares during the last quarter. First Mercantile Trust Co. increased its stake in shares of Amplify Snack Brands by 180.5% in the third quarter. First Mercantile Trust Co. now owns 29,569 shares of the company’s stock worth $479,000 after buying an additional 19,028 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of Amplify Snack Brands by 834.9% in the second quarter. Macquarie Group Ltd. now owns 140,406 shares of the company’s stock worth $2,071,000 after buying an additional 125,388 shares during the last quarter. Braun Stacey Associates Inc. increased its stake in shares of Amplify Snack Brands by 60.2% in the second quarter. Braun Stacey Associates Inc. now owns 766,280 shares of the company’s stock worth $11,302,000 after buying an additional 287,890 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Amplify Snack Brands by 91.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 87,618 shares of the company’s stock worth $1,293,000 after buying an additional 41,832 shares during the last quarter. Hedge funds and other institutional investors own 90.25% 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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