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DA Davidson Previews USANA, Omega Protein, Inventure Foods, SunOpta Earnings


In a report published Wednesday, DA Davidson analyst Eric M Gottlieb previewed the 2Q results of several companies in the Food & Beverage sector.

Analyst Eric Gottlieb maintained a Buy rating on USANA Health Sciences, Inc. (NYSE: USNA), with a price target of $165.

Gottlieb expects "greater sales overseas and a slight bump in the US." The sales growth "should filter to the bottom line," helping the company generate an EPS of $1.71. Active Associates is estimated to decline to 366 from 376 in the prior quarter, but still grow 29 percent y/y.

In the first quarter, the company had run a "very successful" program in China that should have "some fall-off" in view of its completion. "We will be looking for progress with the company's international growth initiatives, especially how Indonesia is shaping up in the early going," the analyst added.

DA Davidson maintained a Neutral rating on Omega Protein Corporation (NYSE: OME), with a price target of $15.

Gottlieb expects the company's animal segment to post a strong quarter, after missing expectations in Q1. The performance would be driven by "strong aquaculture demand and a modest price increase." The report added, "The increase in the Atlantic Region quota by 10 percent should allow for increased volume."

Gottlieb cited the "continuing disappointment" in performance within the company's human segment as a reason for concern, while adding, "[W]e hope to see progress made in that regard."

Gottlieb maintained a Buy rating on Inventure Foods Inc (NASDAQ: SNAK), with a price target of $12.50.

The analyst expects the company to report "low" EPS and revenue on account of the product recall in April and production halt at its Jefferson facility. "The quarter is a wash and investors will likely look through it. Commentary regarding the progress of the recall or essentially how the company will come out if it will govern how the stock is viewed," the report stated.

DA Davidson maintained a Neutral rating on SunOpta, Inc. (USA) (NASDAQ: STKL), with a price target of $14.

The company announced a "transformative" acquisition of Sunrise Growers, which is a leading supplier of private label domestic and imported conventional and organic fruit. Gottlieb pointed out that Sunrise had historically generated low double-digit growth and operating margin of around 13 percent.

"Management may provide more details regarding the acquisition during the conference call this quarter as well as details into the CEO transition expected on October 1st. We also await an update to the sale date of the Opta Minerals segment," Gottlieb added.

Latest Ratings for USNA

Feb 2021Roth CapitalMaintainsBuy
Dec 2020Roth CapitalInitiates Coverage OnBuy
Aug 2019JefferiesInitiates Coverage OnHold

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