Why did Oppenheimer Downgrade Amplify Snack Brands’ Stock?By Jason Carr
“We are downgrading shares of BETR to Perform from Outperform. Earlier this evening, BETR reported Q3 adjusted EPS of $0.12, below a consensus figure of $0.15. As we previewed last Friday, we expected an earnings reset at BETR due primarily to a more difficult backdrop and aggressive Street forecasts, but the report was much weaker than feared due in large part to execution issues. With results again falling short of expectations and more significant execution challenges, we foresee an even more muted earnings trajectory than we modeled last week.”
According to TipRanks.com, Parikh is a top 100 analyst with an average return of 18.2% and a 64.4% 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 $19, representing an 82.2% upside.
In a report released today, Credit Suisse also downgraded the stock to Hold with a $13 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 640.3K.
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.