SunTrust clips its price target on Amplify Snack Brands (NYSE:BETR) to $15 from $18 after digesting the food company's Q3 earnings report. The investment firm keeps a Buy rating on BETR with a positive long-term view still in place.
Credit Suisse moves to a Hold rating on Amplify after citing execution missteps.
Amplify's gross profit rate fell sharply to 47.6% of sales in the quarter due in part to a higher level of trade promotional activity and shift in product mix. The gross profit rate was 55.9% of sales a year ago.
Previously: Amplify Snack misses by $0.03, beats on revenue (Nov. 14)