Utz Brands Inc. [NYSE: UTZ] surged by $1.47 during the normal trading session on Thursday and reaching a high of $22.54 during the day while it closed the day at $22.54. The company report on December 15, 2020 that Utz Brands Completes Acquisition Of Insignia Portfolio Company Truco Enterprises.
Insignia Capital Group announced that it has completed the previously announced sale of Truco Enterprises (“Truco” or the “Company”) to Utz Brands (NYSE: UTZ) in a transaction valued at approximately $480 million in cash.
Truco is a leading maker of tortilla chips, salsa and queso sold under the On The Border® (“OTB”) brand. Insignia Capital Group invested in Truco in 2014 to help the Company expand its distribution footprint and launch new product innovation. Together, Insignia and Truco made significant investments in sales and R&D that tripled adjusted EBITDA over the past six years. “It has been a true pleasure partnering with the Truco team to generate this exceptional outcome for all of the Company’s stakeholders,” said David Lowe, CEO of Insignia Capital Group. “We believe Utz will be an exceptional steward of the brand as Truco executes on its next phase of growth.”.
Utz Brands Inc. stock has also gained 17.89% of its value over the past 7 days. However, UTZ stock has inclined by 24.81% in the 3 months of the year. Over the past six months meanwhile, it has gained 63.22% and gained 119.26% year-on date.
The market cap for UTZ stock reached $1.34 billion, with 55.88 million shares outstanding and 39.23 million shares in the current float. Compared to the average trading volume of 733.38K shares, UTZ reached a trading volume of 1223798 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Utz Brands Inc. [UTZ]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for UTZ shares is $21.86 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on UTZ stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Barclays have made an estimate for Utz Brands Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 16, 2020. While these analysts kept the previous recommendation, Piper Sandler raised their target price from $18 to $22. The new note on the price target was released on November 13, 2020, representing the official price target for Utz Brands Inc. stock. Previously, the target price had yet another raise to $21, while Oppenheimer analysts kept a Outperform rating on UTZ stock.
The Average True Range (ATR) for Utz Brands Inc. is set at 0.78, with the Price to Sales ratio for UTZ stock in the period of the last 12 months amounting to 8.85. The Price to Book ratio for the last quarter was 2.89, with the Price to Cash per share for the same quarter was set at 0.01.
UTZ stock trade performance evaluation
Utz Brands Inc. [UTZ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 17.89. With this latest performance, UTZ shares gained by 21.05% in over the last four-week period, additionally plugging by 63.22% over the last 6 months – not to mention a rise of 119.90% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for UTZ stock in for the last two-week period is set at 77.74, with the RSI for the last a single of trading hit 83.27, and the three-weeks RSI is set at 74.02 for Utz Brands Inc. [UTZ]. The present Moving Average for the last 50 days of trading for this stock 18.53, while it was recorded at 20.57 for the last single week of trading, and 14.47 for the last 200 days.
Utz Brands Inc. [UTZ]: An insightful look at the core fundamentals
Utz Brands Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 0.20.
Utz Brands Inc. [UTZ]: Insider Ownership positions
There are presently around $941 million, or 70.80% of UTZ stock, in the hands of institutional investors. The top three institutional holders of UTZ stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 6,095,650, which is approximately 883.895% of the company’s market cap and around 7.50% of the total institutional ownership; BAMCO INC /NY/, holding 5,350,000 shares of the stock with an approximate value of $120.59 million in UTZ stocks shares; and SOUTHPOINT CAPITAL ADVISORS LP, currently with $90.16 million in UTZ stock with ownership of nearly 45.455% of the company’s market capitalization.
70 institutional holders increased their position in Utz Brands Inc. [NYSE:UTZ] by around 20,041,883 shares. Additionally, 50 investors decreased positions by around 12,528,677 shares, while 1 investors held positions by with 9,167,305 shares. The mentioned changes placed institutional holdings at 41,737,865 shares, according to the latest SEC report filing. UTZ stock had 49 new institutional investments in for a total of 9,239,296 shares, while 40 institutional investors sold positions of 9,663,914 shares during the same period.