UTZ Brands Inc. shares have tumbled to a 52-week low, with the stock price touching down at $13.35. The snack company, known for its portfolio of popular brands including Zapp's and Golden Flake, has faced a challenging market environment, contributing to a significant decline over the past year. According to InvestingPro data, the stock has declined 11.3% year-to-date, though analysts maintain price targets ranging from $17 to $23, suggesting potential upside. Investors have witnessed a decrease in value, as reflected by the Collier Creek 1-year change data, which shows a -21.11% drop. This downturn highlights the pressures faced by consumer goods companies amidst shifting market dynamics and underscores the importance of strategic agility in the face of economic headwinds. Despite challenges, InvestingPro analysis reveals the company maintains a FAIR financial health rating and offers a 1.76% dividend yield. Discover comprehensive valuation metrics and 10 additional ProTips with an InvestingPro subscription.
In other recent news, Utz Brands (NYSE:UTZ) has been the focus of multiple analyst adjustments. Piper Sandler lowered its price target for Utz Brands from $24 to $20, yet maintained an Overweight rating. The firm also adjusted its earnings per share estimates for 2025 and 2026, citing slower momentum in U.S. retail sales affecting their projections. However, Piper Sandler remains confident in the company's potential for 2025, with expected improvements in organic growth driven by volume increases and expanded capacity, particularly in the kettle-cooked product line.
Simultaneously, Mizuho (NYSE:MFG) Securities revised its outlook on Utz Brands, decreasing the price target to $21.00 from the previous $24.00, while maintaining an Outperform rating. Despite aggressive price discounting, the company's volume remains on track, supported by new distribution channels and market share growth. Mizuho Securities also noted that Utz Brands is implementing strategic measures to sustain more than 3% organic sales growth in fiscal year 2025.
Additionally, Utz Brands has declared an increase in its annual dividend for the fourth consecutive year. The company also reported steady growth in its third quarter of 2024 earnings, despite facing a competitive market. These are the recent developments surrounding Utz Brands.
In other sectors, RBC (TSX:RY) analysts highlighted Primo Brands, Chewy (NYSE:CHWY), and Planet Fitness (NYSE:PLNT) as top stock picks across various consumer and retail sectors for the upcoming year. Primo Brands was named the top pick in the U.S. Beverages, Home and Personal Care, and Packaged Food sectors due to its superior volume-driven top line and potential upside from its combination with Blue Triton. In the U.S. Hardlines/Broadlines & Food Retail sector, Chewy emerged as the top pick, while Planet Fitness was selected as the top pick in the U.S. Restaurants & Leisure sector.
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