Amplify Snack Brands Inc. (NYSE:BETR) was downgraded by equities research analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a research report issued on Friday. They currently have a $18.00 price target on the stock, up from their prior price target of $15.45. Goldman Sachs Group Inc.’s price objective would indicate a potential upside of 18.73% from the stock’s current price.
BETR has been the subject of a number of other reports. Oppenheimer Holdings Inc. increased their target price on shares of Amplify Snack Brands from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, September 7th. Zacks Investment Research upgraded shares of Amplify Snack Brands from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Wednesday, October 12th. DA Davidson increased their target price on shares of Amplify Snack Brands from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $18.00 target price on shares of Amplify Snack Brands in a research report on Saturday, July 2nd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Amplify Snack Brands presently has an average rating of “Buy” and an average price target of $18.14.
Shares of Amplify Snack Brands (NYSE:BETR) opened at 15.16 on Friday. The stock has a 50 day moving average of $16.21 and a 200 day moving average of $14.81. Amplify Snack Brands has a 12-month low of $9.15 and a 12-month high of $17.53. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 62.90 and a beta of 2.59.
Amplify Snack Brands (NYSE:BETR) last issued its earnings results on Monday, August 8th. The company reported $0.15 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.15. The business earned $59.90 million during the quarter, compared to analysts’ expectations of $47.40 million. Amplify Snack Brands had a net margin of 9.00% and a return on equity of 233.97%. Amplify Snack Brands’s revenue for the quarter was up 26.4% compared to the same quarter last year. Analysts forecast that Amplify Snack Brands will post $0.61 earnings per share for the current year.
In other Amplify Snack Brands news, Director Pamela L. Netzky sold 42,000 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $15.51, for a total transaction of $651,420.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas C. Ennis sold 43,000 shares of the stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $16.37, for a total transaction of $703,910.00. Following the transaction, the chief executive officer now directly owns 2,889,827 shares of the company’s stock, valued at approximately $47,306,467.99. The disclosure for this sale can be found here. Company insiders own 74.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Stoneridge Investment Partners LLC raised its position 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 position in shares of Amplify Snack Brands during the first quarter valued at $1,489,000. Cortina Asset Management LLC bought a new position in shares of Amplify Snack Brands during the second quarter valued at $7,690,000. Bayesian Capital Management LP bought a new position in shares of Amplify Snack Brands during the first quarter valued at $156,000. Finally, Kennedy Capital Management Inc. bought a new position in shares of Amplify Snack Brands during the first quarter valued at $1,888,000. 90.25% of the stock is owned by institutional investors.
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.
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