Zacks Investment Research Lowers Amplify Snack Brands Inc (BETR) to Sell
Amplify Snack Brands Inc (NYSE:BETR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
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 issued reports on BETR. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of Amplify Snack Brands in a research report on Thursday, January 26th. Craig Hallum began coverage on shares of Amplify Snack Brands in a research report on Monday, February 13th. They set a “hold” rating and a $11.00 target price on the stock. Finally, Wedbush dropped their target price on shares of Amplify Snack Brands from $9.00 to $8.50 and set a “neutral” rating on the stock in a research report on Thursday, March 9th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $15.50.
Amplify Snack Brands (NYSE:BETR) traded down 4.97% during midday trading on Wednesday, reaching $8.23. 1,014,898 shares of the company were exchanged. The firm has a market cap of $631.62 million, a P/E ratio of 32.92 and a beta of 1.97. The firm’s 50-day moving average is $8.67 and its 200-day moving average is $10.02. Amplify Snack Brands has a one year low of $7.86 and a one year high of $17.53.
Amplify Snack Brands (NYSE:BETR) last announced its earnings results on Tuesday, May 9th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by $0.01. Amplify Snack Brands had a return on equity of 113.22% and a net margin of 10.16%. The company had revenue of $87.21 million for the quarter, compared to the consensus estimate of $87.54 million. During the same period last year, the firm posted $0.13 EPS. The company’s revenue was up 60.5% compared to the same quarter last year. On average, equities analysts expect that Amplify Snack Brands will post $0.43 EPS for the current fiscal year.
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Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in shares of Amplify Snack Brands by 121.1% in the third quarter. PNC Financial Services Group Inc. now owns 8,017 shares of the company’s stock valued at $130,000 after buying an additional 4,391 shares during the period. Commerce Bank raised its stake in shares of Amplify Snack Brands by 36.5% in the first quarter. Commerce Bank now owns 16,975 shares of the company’s stock valued at $143,000 after buying an additional 4,535 shares during the period. AQR Capital Management LLC acquired a new stake in shares of Amplify Snack Brands during the fourth quarter valued at about $150,000. American International Group Inc. raised its stake in shares of Amplify Snack Brands by 7.1% in the first quarter. American International Group Inc. now owns 17,999 shares of the company’s stock valued at $151,000 after buying an additional 1,186 shares during the period. Finally, Menta Capital LLC acquired a new stake in shares of Amplify Snack Brands during the fourth quarter valued at about $159,000. 89.86% of the stock is currently owned by hedge funds and other institutional investors.
Amplify Snack Brands Company Profile
Amplify Snack Brands, Inc is a snack food company focused on developing and marketing products that appeal to consumers’ growing preference for better-for-you (BFY) snacks. The Company’s segments are North America and International. The North America and International segments both operate in the snack food category and whose brands and products are offered in the natural and conventional grocery, drug, convenience, food service, club, mass merchandise and other channels.
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