DavidsTea Inc. (DTEA) Upgraded at Zacks Investment Research
DavidsTea Inc. (NASDAQ:DTEA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $14.00 price target on the stock. Zacks Investment Research’s price target suggests a potential upside of 10.67% from the company’s current price.
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 issued reports on the stock. BMO Capital Markets upgraded shares of DavidsTea from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $13.00 to $16.00 in a research report on Thursday, July 7th. Lake Street Capital started coverage on shares of DavidsTea in a research report on Tuesday, July 12th. They set a “buy” rating and a $20.00 target price for the company.
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DavidsTea (NASDAQ:DTEA) traded up 0.16% during mid-day trading on Tuesday, hitting $12.65. 29,903 shares of the stock traded hands. DavidsTea has a 12 month low of $8.88 and a 12 month high of $17.01. The company’s 50 day moving average is $12.81 and its 200 day moving average is $12.58.
DavidsTea (NASDAQ:DTEA) last announced its earnings results on Wednesday, September 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by $0.02. The business 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%. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period last year, the business earned ($0.07) EPS. Analysts forecast that DavidsTea will post $0.40 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. FMR LLC raised its position in DavidsTea by 2.3% in the second quarter. FMR LLC now owns 3,334,100 shares of the company’s stock worth $45,444,000 after buying an additional 74,800 shares during the last quarter. Jennison Associates LLC raised its position in DavidsTea by 36.5% in the second quarter. Jennison Associates LLC now owns 1,220,836 shares of the company’s stock worth $16,640,000 after buying an additional 326,763 shares during the last quarter. William Harris Investors Inc. purchased a new position in DavidsTea during the second quarter worth $4,391,000. Bank of New York Mellon Corp raised its position in DavidsTea by 46.2% in the second quarter. Bank of New York Mellon Corp now owns 56,925 shares of the company’s stock worth $776,000 after buying an additional 17,993 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in DavidsTea by 196.7% in the first quarter. Renaissance Technologies LLC now owns 53,400 shares of the company’s stock worth $647,000 after buying an additional 35,400 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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