Usana price target lowered to $53 from $62 at DA Davidson

DA Davidson lowered the firm’s price target on Usana to $53 from $62 and keeps a Neutral rating on the shares. The company missed on Q3 sales and earnings due to continuing challenging economic conditions around the world, the analyst tells investors in a research note. Usana’s slight gross margin increase was due to improved inventory management and modest price increases, though it was also partially offset by FX, increased material costs, and negative fixed cost leverage headwinds, the firm added.