Zacks Investment Research upgraded shares of DavidsTea Inc. (NASDAQ:DTEA) from a hold rating to a buy rating in a report released on Tuesday. The brokerage currently has $14.00 price target on the stock.

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. “

DTEA has been the subject of a number of other research reports. BMO Capital Markets restated an in-line rating and set a $16.00 price objective on shares of DavidsTea in a research report on Thursday, September 8th. Lake Street Capital initiated coverage on shares of DavidsTea in a research report on Tuesday, July 12th. They set a buy rating and a $20.00 price objective for the company.

DavidsTea (NASDAQ:DTEA) traded down 0.71% during mid-day trading on Tuesday, reaching $12.56. 1,627 shares of the company were exchanged. DavidsTea has a 1-year low of $8.88 and a 1-year high of $17.01. The company has a 50 day moving average of $12.78 and a 200-day moving average of $12.58.

DavidsTea (NASDAQ:DTEA) last announced its quarterly earnings data on Wednesday, September 7th. The company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.02. The firm had revenue of $41.08 million for the quarter. DavidsTea had a return on equity of 9.81% and a net margin of 6.39%. The business’s revenue was up 25.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.07) EPS. On average, analysts forecast that DavidsTea will post $0.40 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC increased 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 valued at $16,640,000 after buying an additional 326,763 shares during the period. William Harris Investors Inc. purchased a new stake in DavidsTea during the second quarter valued at about $4,391,000. Renaissance Technologies LLC boosted its stake in DavidsTea by 196.7% in the first quarter. Renaissance Technologies LLC now owns 53,400 shares of the company’s stock valued at $647,000 after buying an additional 35,400 shares in the last quarter. Waddell & Reed Financial Inc. purchased a new stake in DavidsTea during the second quarter valued at about $211,000. Finally, Spark Investment Management LLC purchased a new stake in DavidsTea during the second quarter valued at about $325,000. Hedge funds and other institutional investors own 24.58% of the company’s stock.

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.

5 Day Chart for NASDAQ:DTEA

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