Susquehanna Releases a Buy Rating on National Beverage

By Austin Angelo

In a report released today, Pablo Zuanic from Susquehanna assigned a Buy rating to National Beverage (NASDAQ: FIZZ), with a price target of $150. The company’s shares opened today at $109.49.

Zuanic said:

“Very brief press release, lacking in details. So, we await the 10-Q (normally it comes out a few hours after press release). Sales were up 20% vs. our 17% estimate, keeping the 1Q18 pace. EBIT margins were up 250bp yoy (were up 200bp in 1Q18 yoy) and were 130bp above our estimate (no pricing issues, or A&P ramp up dilution). EPS of 72c were ahead of our estimate of 66c. The press release discusses coming innovation (very briefly), but we’d prefer to hear about distribution expansion potential for Lacroix, than necessarily about new products. We will provide more color once the 10Q is out. We stay Positive and keep price target of $150 by Dec’18.”

According to, Zuanic is a 3-star analyst with an average return of 3.6% and a 57.7% success rate. Zuanic covers the Consumer Goods sector, focusing on stocks such as Constellation Brands Inc, Anheuser-Busch Inbev Sa, and Craft Brewers Alliance.

National Beverage has an analyst consensus of Moderate Sell, with a price target consensus of $92.

Based on National Beverage’s latest earnings report for the quarter ending July 31, the company posted quarterly revenue of $260 million and quarterly net profit of $38.27 million. In comparison, last year the company earned revenue of $203 million and had a net profit of $24.6 million.

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National Beverage Corp. develops, manufactures, markets and sells a diverse portfolio of flavored beverage products. Its brands include Shasta, Faygo, Everfresh, LaCroix, Rip It, Asante, Mt. Shasta, ClearFruit, Mr. Pure, Ritz, Crystal Bay, Cascadia Sparkling Clear, Cascadia Only 2 Calories, Ohana, Big Shot and St. Nick’s. The company was founded by Nick A.