Zacks Investment Research upgraded shares of DAVIDsTEA Inc. (NASDAQ:DTEA) from a sell rating to a hold rating in a report issued on Wednesday morning.

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. “

Shares of DAVIDsTEA (NASDAQ:DTEA) opened at $4.15 on Wednesday. DAVIDsTEA has a 1-year low of $4.00 and a 1-year high of $10.95. The firm has a market cap of $118.15, a PE ratio of 58.57 and a beta of 0.81.

DAVIDsTEA (NASDAQ:DTEA) last released its quarterly earnings results on Thursday, September 7th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. DAVIDsTEA had a negative net margin of 3.98% and a positive return on equity of 1.51%. The business had revenue of $45.70 million for the quarter, compared to analysts’ expectations of $44.32 million. During the same period last year, the business earned ($0.09) EPS. The company’s revenue was up 11.2% compared to the same quarter last year. equities analysts forecast that DAVIDsTEA will post 0.05 EPS for the current year.

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Several large investors have recently added to or reduced their stakes in DTEA. FMR LLC boosted its holdings in shares of DAVIDsTEA by 3.0% in the 1st 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 in the last quarter. Vivaldi Asset Management LLC bought a new stake in shares of DAVIDsTEA in the 2nd quarter valued at about $5,383,000. Finally, EdgePoint Investment Group Inc. acquired a new stake in DAVIDsTEA in the 2nd quarter worth approximately $7,156,000. Institutional investors and hedge funds own 16.84% 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.

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