Zacks Investment Research upgraded shares of Amplify Snack Brands (NYSE:BETR) from a sell rating to a hold rating in a research report report published on Tuesday.
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 equities analysts also recently issued reports on BETR. Credit Suisse Group cut their price target on Amplify Snack Brands from $9.00 to $7.00 and set a neutral rating for the company in a research note on Wednesday, September 27th. BidaskClub downgraded Amplify Snack Brands from a hold rating to a sell rating in a research note on Saturday, October 28th. Jefferies Group set a $10.00 price target on Amplify Snack Brands and gave the company a buy rating in a research note on Monday, October 30th. SunTrust Banks cut shares of Amplify Snack Brands from a buy rating to a hold rating in a research report on Wednesday, November 8th. Finally, Berenberg Bank initiated coverage on shares of Amplify Snack Brands in a research report on Thursday, November 16th. They set a hold rating and a $5.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $8.75.
Amplify Snack Brands (NYSE:BETR) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The company had revenue of $94.86 million for the quarter, compared to analyst estimates of $97.70 million. Amplify Snack Brands had a net margin of 2.92% and a return on equity of 25.78%. Amplify Snack Brands’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 EPS. analysts anticipate that Amplify Snack Brands will post 0.26 earnings per share for the current year.
In related news, insider Brian Goldberg sold 40,000 shares of Amplify Snack Brands stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $7.00, for a total value of $280,000.00. Following the sale, the insider now owns 1,273,866 shares of the company’s stock, valued at approximately $8,917,062. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 57.40% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BETR. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Amplify Snack Brands during the 3rd quarter valued at $102,000. Victory Capital Management Inc. grew its position in shares of Amplify Snack Brands by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 11,124 shares of the company’s stock valued at $107,000 after purchasing an additional 1,667 shares in the last quarter. Verition Fund Management LLC purchased a new position in shares of Amplify Snack Brands during the 2nd quarter valued at $119,000. Nationwide Fund Advisors grew its position in shares of Amplify Snack Brands by 8.3% during the 2nd quarter. Nationwide Fund Advisors now owns 18,094 shares of the company’s stock valued at $174,000 after purchasing an additional 1,391 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its position in shares of Amplify Snack Brands by 63.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 19,085 shares of the company’s stock valued at $184,000 after purchasing an additional 7,438 shares in the last quarter. Hedge funds and other institutional investors own 97.15% of the company’s stock.
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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