DAVIDsTEA Inc. (NASDAQ:DTEA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

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. “

A number of other brokerages also recently commented on DTEA. Lake Street Capital downgraded DAVIDsTEA from a “buy” rating to a “hold” rating and reduced their price target for the company from $14.00 to $8.00 in a report 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 equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $6.58.

DAVIDsTEA (NASDAQ:DTEA) traded down 0.218% during midday trading on Friday, reaching $5.488. The company’s stock had a trading volume of 18,440 shares. The company has a 50 day moving average of $6.22 and a 200-day moving average of $6.69. DAVIDsTEA has a 1-year low of $5.35 and a 1-year high of $14.10.

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. The firm had revenue of $48.70 million during the quarter, compared to the consensus estimate of $46.11 million. DAVIDsTEA had a positive return on equity of 2.69% and a negative net margin of 2.57%. DAVIDsTEA’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.06 earnings per share. On average, analysts anticipate that DAVIDsTEA will post $0.07 EPS for the current year.

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A number of institutional investors have recently bought and sold shares of DTEA. PEAK6 Investments L.P. bought a new position in DAVIDsTEA during the first quarter valued at $207,000. Vivaldi Capital Management LLC bought a new position in DAVIDsTEA during the first quarter valued at $5,631,217,000. FMR LLC raised its position 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 period. Finally, Two Sigma Investments LP bought a new position in DAVIDsTEA during the fourth quarter valued at $191,000. Institutional investors own 19.79% 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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