Oppenheimer Reiterates a Buy Rating on Amplify Snack Brands

By Ryan Adsit

In a report released today, Rupesh Parikh from Oppenheimer reiterated a Buy rating on Amplify Snack Brands (NYSE: BETR), with a price target of $17. The company’s shares opened today at $14.24.

Parikh wrote:

“BETR will report Q3 results AMC on 11/14. In early Sept., we published an update incorporating the Tyrrells acquisition and at the time highlighted our view for a potential Street reset given what appeared to be lofty expectations, especially for 2017 and beyond. In today’s piece, we update our views to reflect recent developments. We now build in even more conservative growth assumptions for the core business primarily to reflect a softer grocery backdrop in recent months and our expectation for this to continue for the balance of the year.”

According to TipRanks.com, Parikh is a top 100 analyst with an average return of 17.4% and a 60.4% success rate. Parikh covers the Services sector, focusing on stocks such as United Natural Foods, Life Time Fitness, and Natural Grocers.

Currently, the analyst consensus on Amplify Snack Brands is Moderate Buy and the average price target is $18, representing a 26.4% upside.

In a report issued on November 8, D.A. Davidson also reiterated a Buy rating on the stock with a $19 price target.

The company has a one year high of $17.53 and a one year low of $9.15. Currently, Amplify Snack Brands has an average volume of 633.5K.

Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock.

Amplify Snack Brands, Inc. is a snack food company. The company focuses on the development and marketing of products that appeal to consumers growing preference for Better-For-You snacks. Its anchor brand, SkinnyPop, is a Better-For-You ready-to-eat popcorn brand. Amplify Snack Brands was founded by Andrew S. Friedman and Pamela L. Netzky in July 2014 and is headquartered in Austin, TX.