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 research report issued on Tuesday. The brokerage currently has a $17.00 target price on the stock. Zacks Investment Research’s target price points to 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. “
A number of other research analysts have also recently weighed in on BETR. DA Davidson raised their price objective on shares of Amplify Snack Brands from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, August 9th. Piper Jaffray Cos. reissued an “overweight” rating and set a $19.00 price objective on shares of Amplify Snack Brands in a research note on Thursday, August 11th. Oppenheimer Holdings Inc. raised their price objective on shares of Amplify Snack Brands from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 7th. Finally, Goldman Sachs Group Inc. cut shares of Amplify Snack Brands from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $15.45 to $18.00 in a research note on Friday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $18.14.
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Shares of Amplify Snack Brands (NYSE:BETR) traded down 0.79% on Tuesday, hitting $15.04. The stock had a trading volume of 462,498 shares. The stock has a market cap of $1.07 billion, a PE ratio of 62.41 and a beta of 2.59. The company’s 50 day moving average is $16.21 and its 200 day moving average is $14.81. Amplify Snack Brands has a one year low of $9.15 and a one year high of $17.53.
Amplify Snack Brands (NYSE:BETR) last issued its earnings results on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.15. Amplify Snack Brands had a net margin of 9.00% and a return on equity of 233.97%. The company earned $59.90 million during the quarter, compared to analysts’ expectations of $47.40 million. Amplify Snack Brands’s revenue for the quarter was up 26.4% on a year-over-year basis. Equities research analysts predict 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 10,500 shares of Amplify Snack Brands stock in a transaction on Wednesday, October 12th. The shares were sold at an average price of $15.60, for a total value of $163,800.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Pamela L. Netzky sold 42,000 shares of Amplify Snack Brands stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $15.51, for a total transaction of $651,420.00. The disclosure for this sale can be found here. Corporate insiders own 74.70% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Smith Asset Management Group LP bought a new position in shares of Amplify Snack Brands during the second quarter worth $1,846,000. Stoneridge Investment Partners LLC raised its position in shares of Amplify Snack Brands by 8.3% in the second quarter. Stoneridge Investment Partners LLC now owns 153,282 shares of the company’s stock worth $2,261,000 after buying an additional 11,693 shares during the period. Copper Rock Capital Partners LLC raised 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 during the period. First National Bank of Omaha bought a new position in shares of Amplify Snack Brands during the second quarter worth $728,000. Finally, GW&K Investment Management LLC bought a new position in shares of Amplify Snack Brands during the second quarter worth $17,321,000. Institutional investors own 90.25% 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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