DAVIDsTEA Inc. (DTEA) Stock Rating Upgraded by Zacks Investment Research

DAVIDsTEA Inc. (NASDAQ:DTEA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

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. “

Shares of DAVIDsTEA (DTEA) traded up $0.05 during midday trading on Wednesday, reaching $4.10. The company’s stock had a trading volume of 9,393 shares, compared to its average volume of 21,099. The stock has a market cap of $118.55 and a P/E ratio of 59.29. DAVIDsTEA has a 12 month low of $4.00 and a 12 month high of $10.95.

DAVIDsTEA (NASDAQ:DTEA) last announced its quarterly earnings results on Thursday, September 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.02. The company had revenue of $45.70 million during the quarter, compared to the consensus estimate of $44.32 million. DAVIDsTEA had a positive return on equity of 1.51% and a negative net margin of 3.98%. DAVIDsTEA’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.09) EPS. equities research analysts predict that DAVIDsTEA will post 0.05 EPS for the current year.

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Several institutional investors have recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of DAVIDsTEA by 3.0% in the 1st quarter. FMR LLC now owns 3,101,945 shares of the company’s stock valued at $22,800,000 after purchasing an additional 89,917 shares during the last quarter. EdgePoint Investment Group Inc. purchased a new stake in shares of DAVIDsTEA in the 2nd quarter valued at about $7,156,000. Finally, Vivaldi Asset Management LLC purchased a new stake in shares of DAVIDsTEA in the 2nd quarter valued at about $5,383,000. 16.84% of the stock is owned by institutional investors and hedge funds.

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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