Zacks Investment Research Downgrades DavidsTea (NASDAQ:DTEA) to Sell

DavidsTea (NASDAQ:DTEA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, January 9th.

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. “

Separately, BMO Capital Markets set a $4.00 price target on DavidsTea and gave the stock a “hold” rating in a research report on Thursday, December 14th.

Shares of DavidsTea (NASDAQ DTEA) opened at $3.86 on Tuesday. DavidsTea has a 52 week low of $3.65 and a 52 week high of $7.95. The firm has a market capitalization of $100.95 and a PE ratio of -12.06.

DavidsTea (NASDAQ:DTEA) last announced its quarterly earnings results on Thursday, December 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.01.

A hedge fund recently bought a new stake in DavidsTea stock. EdgePoint Investment Group Inc. bought a new position in shares of DavidsTea Inc (NASDAQ:DTEA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,223,271 shares of the company’s stock, valued at approximately $7,156,000. Hedge funds and other institutional investors own 11.65% of the company’s stock.

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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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