Amplify Snack Brands Inc (BETR) Receives $8.25 Average Price Target from Brokerages

Shares of Amplify Snack Brands Inc (NYSE:BETR) have been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $8.25.

A number of equities research analysts have recently commented on BETR shares. Credit Suisse Group cut their price target on shares of Amplify Snack Brands from $9.00 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, September 27th. Zacks Investment Research cut shares of Amplify Snack Brands from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. SunTrust Banks cut shares of Amplify Snack Brands from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Berenberg Bank started coverage on shares of Amplify Snack Brands in a report on Thursday, November 16th. They set a “hold” rating and a $5.00 price target on the stock. Finally, William Blair cut shares of Amplify Snack Brands from an “outperform” rating to a “market perform” rating in a report on Monday, December 18th.

In related news, insider Brian Goldberg sold 40,000 shares of the firm’s 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 in the company, valued at $8,917,062. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 57.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of BETR. Rhumbline Advisers boosted its holdings in Amplify Snack Brands by 14.8% in the second quarter. Rhumbline Advisers now owns 36,328 shares of the company’s stock worth $350,000 after purchasing an additional 4,675 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Amplify Snack Brands by 7.8% in the second quarter. Bank of New York Mellon Corp now owns 147,907 shares of the company’s stock worth $1,425,000 after purchasing an additional 10,692 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Amplify Snack Brands by 17.6% in the second quarter. Victory Capital Management Inc. now owns 11,124 shares of the company’s stock worth $107,000 after purchasing an additional 1,667 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Amplify Snack Brands by 22.4% in the second quarter. Wells Fargo & Company MN now owns 95,361 shares of the company’s stock worth $919,000 after purchasing an additional 17,444 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Amplify Snack Brands by 77.4% in the second quarter. Alliancebernstein L.P. now owns 29,100 shares of the company’s stock worth $281,000 after purchasing an additional 12,700 shares during the last quarter. Institutional investors own 97.15% of the company’s stock.

Shares of Amplify Snack Brands (NYSE BETR) traded up $0.01 during midday trading on Wednesday, hitting $12.10. 395,552 shares of the company’s stock were exchanged, compared to its average volume of 3,060,000. Amplify Snack Brands has a fifty-two week low of $4.78 and a fifty-two week high of $12.32. The company has a market capitalization of $928.63 and a P/E ratio of 100.83. The company has a quick ratio of 0.94, a current ratio of 1.34 and a debt-to-equity ratio of 6.51.

Amplify Snack Brands (NYSE:BETR) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.07 EPS 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 firm had revenue of $94.86 million for the quarter, compared to analysts’ expectations of $97.70 million. During the same quarter in the previous year, the company earned $0.12 EPS. The company’s quarterly revenue was up 39.5% compared to the same quarter last year. research analysts forecast that Amplify Snack Brands will post 0.24 earnings per share for the current year.

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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.

Analyst Recommendations for Amplify Snack Brands (NYSE:BETR)

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