Amplify Snack Brands (BETR) Lifted to Hold at Zacks Investment Research

Amplify Snack Brands (NYSE:BETR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

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 research analysts have also commented on BETR. Credit Suisse Group decreased their price objective on Amplify Snack Brands from $9.00 to $7.00 and set a “neutral” rating for the company in a research report on Wednesday, September 27th. BidaskClub lowered Amplify Snack Brands from a “hold” rating to a “sell” rating in a research report on Saturday, October 28th. Jefferies Group set a $10.00 price objective on Amplify Snack Brands and gave the stock a “buy” rating in a research report on Monday, October 30th. SunTrust Banks lowered Amplify Snack Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, Berenberg Bank started coverage on Amplify Snack Brands in a research report on Thursday, November 16th. They set a “hold” rating and a $5.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. Amplify Snack Brands presently has an average rating of “Hold” and a consensus target price of $8.75.

Amplify Snack Brands (NYSE BETR) traded up $0.01 during trading hours on Wednesday, hitting $12.07. The company had a trading volume of 634,900 shares, compared to its average volume of 1,034,417. The company has a debt-to-equity ratio of 6.51, a current ratio of 1.34 and a quick ratio of 0.94. Amplify Snack Brands has a fifty-two week low of $4.78 and a fifty-two week high of $12.32. The firm has a market cap of $926.32 and a price-to-earnings ratio of 100.58.

Amplify Snack Brands (NYSE:BETR) last released its quarterly earnings results on Tuesday, November 7th. The company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.02). Amplify Snack Brands had a net margin of 2.92% and a return on equity of 25.78%. The company had revenue of $94.86 million during the quarter, compared to analyst estimates of $97.70 million. During the same quarter last year, the business earned $0.12 EPS. The company’s revenue for the quarter was up 39.5% compared to the same quarter last year. analysts anticipate that Amplify Snack Brands will post 0.26 EPS for the current year.

In other Amplify Snack Brands news, insider Brian Goldberg sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $7.00, for a total transaction of $280,000.00. Following the completion of the sale, the insider now directly owns 1,273,866 shares in the company, valued at approximately $8,917,062. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 57.40% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. purchased a new stake in shares of Amplify Snack Brands during the 2nd quarter worth about $336,000. Macquarie Group Ltd. raised its stake in shares of Amplify Snack Brands by 3.0% during the 2nd quarter. Macquarie Group Ltd. now owns 3,178,059 shares of the company’s stock worth $30,636,000 after purchasing an additional 91,157 shares in the last quarter. Discovery Group I LLC raised its stake in shares of Amplify Snack Brands by 41.0% during the 3rd quarter. Discovery Group I LLC now owns 4,918,795 shares of the company’s stock worth $34,874,000 after purchasing an additional 1,430,843 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Amplify Snack Brands by 8.4% during the 2nd quarter. Vanguard Group Inc. now owns 2,534,097 shares of the company’s stock worth $24,428,000 after purchasing an additional 195,433 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Amplify Snack Brands during the 3rd quarter worth about $1,417,000. 97.15% of the stock is owned by institutional investors.

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About Amplify Snack Brands

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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