Zacks Investment Research upgraded shares of Amplify Snack Brands Inc. (NYSE:BETR) from a hold rating to a buy rating in a report published on Wednesday morning. They currently have $17.00 price target on the stock.
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. “
Other research analysts have also issued reports about the stock. Piper Jaffray Cos. reiterated an overweight rating and issued a $19.00 price target on shares of Amplify Snack Brands in a research note on Thursday, August 11th. DA Davidson increased their price objective 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. Finally, Oppenheimer Holdings Inc. increased their price objective 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. Two research 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 target price of $18.14.
Shares of Amplify Snack Brands (NYSE:BETR) opened at 15.16 on Wednesday. Amplify Snack Brands has a 52-week low of $9.15 and a 52-week high of $17.53. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 62.90 and a beta of 2.59. The stock has a 50 day moving average of $16.21 and a 200 day moving average of $14.81.
Amplify Snack Brands (NYSE:BETR) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15. The company earned $59.90 million during the quarter, compared to analyst estimates 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 was up 26.4% on a year-over-year basis. On average, equities research analysts expect that Amplify Snack Brands will post $0.61 EPS for the current year.
In other news, Director Andrew S. Friedman sold 8,200 shares of the firm’s stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $16.59, for a total transaction of $136,038.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas C. Ennis sold 43,000 shares of the firm’s stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $16.37, for a total transaction of $703,910.00. Following the sale, the chief executive officer now directly owns 2,889,827 shares in the company, valued at approximately $47,306,467.99. 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 stock. Prudential Financial Inc. bought a new stake in shares of Amplify Snack Brands during the first quarter worth about $1,489,000. State Street Corp increased its stake in shares of Amplify Snack Brands by 9.0% in the first quarter. State Street Corp now owns 209,596 shares of the company’s stock worth $3,001,000 after buying an additional 17,304 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Amplify Snack Brands by 298.8% in the first quarter. Goldman Sachs Group Inc. now owns 132,440 shares of the company’s stock worth $1,897,000 after buying an additional 99,227 shares during the last quarter. Loomis Sayles & Co. L P bought a new stake in shares of Amplify Snack Brands during the first quarter worth about $2,473,000. Finally, Geode Capital Management LLC increased its stake in shares of Amplify Snack Brands by 16.9% in the first quarter. Geode Capital Management LLC now owns 100,777 shares of the company’s stock worth $1,443,000 after buying an additional 14,601 shares during the last quarter. 90.25% of the stock is currently owned by hedge funds and other 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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