DavidsTea Inc. (DTEA) Lifted to Buy at Zacks Investment Research
DavidsTea Inc. (NASDAQ:DTEA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $14.00 price target on the stock. Zacks Investment Research’s target price points to a potential upside of 10.67% from the stock’s previous close.
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 research analysts have also issued reports on DTEA. BMO Capital Markets reiterated a “hold” rating and issued a $13.00 target price on shares of DavidsTea in a research report on Thursday, June 16th. Lake Street Capital began coverage on shares of DavidsTea in a research report on Tuesday, July 12th. They issued a “buy” rating and a $20.00 target price for the company.
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DavidsTea (NASDAQ:DTEA) traded up 0.16% on Tuesday, hitting $12.65. The stock had a trading volume of 29,903 shares. The stock’s 50-day moving average is $12.81 and its 200-day moving average is $12.58. DavidsTea has a 52-week low of $8.88 and a 52-week high of $17.01.
DavidsTea (NASDAQ:DTEA) last released its quarterly earnings results on Wednesday, September 7th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.02. The firm had revenue of $41.08 million for the quarter. DavidsTea had a net margin of 6.39% and a return on equity of 9.81%. DavidsTea’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.07) EPS. Analysts forecast that DavidsTea will post $0.40 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of DTEA. Waddell & Reed Financial Inc. acquired a new stake in DavidsTea during the second quarter valued at about $211,000. Spark Investment Management LLC acquired a new stake in DavidsTea during the second quarter valued at about $325,000. FMR LLC raised its stake in DavidsTea by 2.3% in the second quarter. FMR LLC now owns 3,334,100 shares of the company’s stock valued at $45,444,000 after buying an additional 74,800 shares during the last quarter. William Harris Investors Inc. acquired a new stake in DavidsTea during the second quarter valued at about $4,391,000. Finally, Jennison Associates LLC raised its stake in DavidsTea by 36.5% in the second quarter. Jennison Associates LLC now owns 1,220,836 shares of the company’s stock valued at $16,640,000 after buying an additional 326,763 shares during the last quarter. Institutional investors and hedge funds own 24.58% of the company’s stock.
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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