Zacks Investment Research Downgrades DAVIDsTEA Inc. (DTEA) to Hold

DAVIDsTEA Inc. (NASDAQ:DTEA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday, July 24th.

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 equities analysts also recently issued reports on DTEA. Lake Street Capital downgraded shares of DAVIDsTEA from a “buy” rating to a “hold” rating and reduced their price objective for the company from $14.00 to $8.00 in a research note on Thursday, April 13th. BMO Capital Markets reaffirmed a “hold” rating and set a $9.00 price target on shares of DAVIDsTEA in a research report on Thursday, April 13th. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $6.42.

Shares of DAVIDsTEA (DTEA) traded up 0.88% during mid-day trading on Monday, hitting $5.70. The company had a trading volume of 4,979 shares. DAVIDsTEA has a 52-week low of $4.90 and a 52-week high of $13.95. The firm has a 50-day moving average price of $5.61 and a 200 day moving average price of $6.40.

DAVIDsTEA (NASDAQ:DTEA) last announced its quarterly earnings data on Wednesday, June 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.03. The business had revenue of $48.70 million for the quarter, compared to the consensus estimate of $46.11 million. DAVIDsTEA had a negative net margin of 2.57% and a positive return on equity of 2.69%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 earnings per share. Equities research analysts predict that DAVIDsTEA will post $0.06 EPS for the current year.

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A number of institutional investors have recently modified their holdings of the company. Two Sigma Investments LP bought a new position in shares of DAVIDsTEA during the fourth quarter valued at approximately $191,000. FMR LLC raised its stake in 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. Vivaldi Capital Management LLC acquired a new stake in DAVIDsTEA during the first quarter valued at about $5,631,217,000. PEAK6 Investments L.P. acquired a new stake in DAVIDsTEA during the first quarter valued at about $207,000. Finally, Vivaldi Asset Management LLC acquired a new stake in DAVIDsTEA during the second quarter valued at about $5,383,000. 19.82% of the stock is owned by hedge funds and other institutional investors.

DAVIDsTEA Company Profile

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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