Zacks Investment Research upgraded shares of DavidsTea Inc (NASDAQ:DTEA) from a hold rating to a buy rating in a report published on Friday. They currently have $5.75 price target on the stock.
According to Zacks, “DAVIDsTEA INC. is a beverage company. The company offer proprietary loose-leaf teas, pre-packaged teas, tea sachets and tea-related gifts and accessories. It operates primarily in the United States and Canada. DAVIDsTEA INC. is headquartered in Montreal, Canada. “
Several other analysts have also recently issued reports on the company. Lake Street Capital cut DavidsTea from a buy rating to a hold rating and cut their price objective for the company from $14.00 to $8.00 in a research note on Thursday, April 13th. BMO Capital Markets restated a hold rating and set a $9.00 price objective on shares of DavidsTea in a research note on Thursday, April 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. DavidsTea presently has an average rating of Hold and an average target price of $6.42.
DavidsTea (NASDAQ DTEA) traded down 0.98% on Friday, reaching $5.05. The company’s stock had a trading volume of 145,186 shares. The firm’s 50 day moving average price is $5.95 and its 200-day moving average price is $6.54. DavidsTea has a 52 week low of $4.97 and a 52 week high of $13.98.
DavidsTea (NASDAQ:DTEA) last issued its quarterly earnings results on Wednesday, June 7th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. DavidsTea had a negative return on equity of 1.08% and a negative net margin of 0.74%. The firm had revenue of $48.70 million during the quarter, compared to the consensus estimate of $46.11 million. During the same quarter in the prior year, the business posted $0.06 earnings per share. DavidsTea’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts expect that DavidsTea will post $0.07 EPS for the current year.
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Hedge funds have recently made changes to their positions in the stock. Vivaldi Capital Management LLC purchased a new stake in shares of DavidsTea during the first quarter valued at about $5,631,217,000. FMR LLC boosted its stake in shares of DavidsTea by 3.0% in the first quarter. FMR LLC now owns 3,101,945 shares of the company’s stock valued at $22,800,000 after buying an additional 89,917 shares during the last quarter. PEAK6 Investments L.P. purchased a new stake in shares of DavidsTea during the first quarter valued at about $207,000. Finally, Two Sigma Investments LP purchased a new stake in shares of DavidsTea during the fourth quarter valued at about $191,000. Hedge funds and other institutional investors own 19.79% of the company’s stock.
About DavidsTea
DAVIDsTEA Inc is engaged in the retail and online sale of tea, tea accessories, and food and beverages in Canada and in the United States. The Company’s segments include Canada and the U.S. The Company is a branded retailer of specialty tea, offering approximately 150 loose-leaf teas, pre-packaged teas, tea sachets and tea-related gifts, accessories, and food and beverages primarily through approximately 190 DAVIDsTEA stores, which are operated by the Company, and its Website, davidstea.com.
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