Amplify Snack Brands Inc. (BETR) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Amplify Snack Brands Inc. (NYSE:BETR) from a buy rating to a hold rating in a report released on Thursday.

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 equities analysts have also issued reports on BETR. DA Davidson boosted their price target on Amplify Snack Brands from $18.00 to $19.00 and gave the company a buy rating in a research note on Tuesday, August 9th. Piper Jaffray Cos. reissued an overweight rating and issued a $19.00 price target on shares of Amplify Snack Brands in a research note on Thursday, August 11th. Finally, Oppenheimer Holdings Inc. boosted their price target on Amplify Snack Brands from $19.00 to $20.00 and gave the company an outperform rating in a research note on Wednesday, September 7th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Amplify Snack Brands presently has a consensus rating of Buy and a consensus target price of $18.14.

Shares of Amplify Snack Brands (NYSE:BETR) opened at 15.04 on Thursday. Amplify Snack Brands has a 12-month low of $9.15 and a 12-month high of $17.53. The stock has a 50 day moving average price of $16.18 and a 200 day moving average price of $14.81. The firm 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 posted its quarterly earnings data on Monday, August 8th. The company reported $0.15 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.15. The company had revenue of $59.90 million for the quarter, compared to analyst estimates of $47.40 million. Amplify Snack Brands had a return on equity of 233.97% and a net margin of 9.00%. The firm’s quarterly revenue was up 26.4% on a year-over-year basis. On average, equities analysts expect that Amplify Snack Brands will post $0.61 earnings per share for the current year.

In related news, CEO Thomas C. Ennis sold 43,000 shares of the company’s stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $16.37, for a total transaction of $703,910.00. Following the completion of the sale, the chief executive officer now owns 2,889,827 shares in the company, valued at $47,306,467.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Pamela L. Netzky sold 42,000 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $15.51, for a total value of $651,420.00. The disclosure for this sale can be found here. Insiders own 74.70% of the company’s stock.

A number of large investors have recently made changes to their positions in the company. Stoneridge Investment Partners LLC increased its stake 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 valued at $2,261,000 after buying an additional 11,693 shares during the period. Prudential Financial Inc. bought a new stake in shares of Amplify Snack Brands during the first quarter valued at about $1,489,000. Cortina Asset Management LLC bought a new stake in shares of Amplify Snack Brands during the second quarter valued at about $7,690,000. Bayesian Capital Management LP bought a new stake in shares of Amplify Snack Brands during the first quarter valued at about $156,000. Finally, Kennedy Capital Management Inc. bought a new stake in shares of Amplify Snack Brands during the first quarter valued at about $1,888,000. Institutional investors and hedge funds 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.

5 Day Chart for NYSE:BETR

Get a free copy of the Zacks research report on Amplify Snack Brands (BETR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Amplify Snack Brands Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amplify Snack Brands Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

GoPro Planning to Cut 200 Jobs
GoPro Planning to Cut 200 Jobs
Early Data from Cyber Monday Shows Sales Increasing Over 9%
Early Data from Cyber Monday Shows Sales Increasing Over 9%
Retailers Anticipating Strong Support for Small Business Saturday
Retailers Anticipating Strong Support for Small Business Saturday
Eli Lilly Alzheimer’s Drug Does Not Pass the Test
Eli Lilly Alzheimer’s Drug Does Not Pass the Test
Disney to Build Larger Hong Kong Kingdom
Disney to Build Larger Hong Kong Kingdom
DraftKings and FanDuel Finally Will Merge
DraftKings and FanDuel Finally Will Merge


 
© 2006-2016 Ticker Report. Google+.