DavidsTea Inc. (NASDAQ:DTEA) fell 6.5% during trading on Thursday . The company traded as low as $12.76 and last traded at $12.83, with a volume of 56,320 shares trading hands. The stock had previously closed at $13.72.

A number of brokerages recently commented on DTEA. Lake Street Capital began coverage on shares of DavidsTea in a research note on Tuesday, July 12th. They issued a “buy” rating and a $20.00 price objective on the stock. BMO Capital Markets raised shares of DavidsTea from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $13.00 to $16.00 in a research note on Thursday, July 7th. Finally, Zacks Investment Research cut shares of DavidsTea from a “hold” rating to a “sell” rating in a research note on Thursday, June 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $15.40.

The stock has a 50 day moving average of $13.27 and a 200-day moving average of $11.55. The stock’s market cap is $319.57 million.

DavidsTea (NASDAQ:DTEA) last announced its quarterly earnings results on Wednesday, June 8th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.01. The firm had revenue of $44.50 million for the quarter. DavidsTea’s quarterly revenue was up 24.3% on a year-over-year basis. Equities analysts predict that DavidsTea Inc. will post $0.40 earnings per share for the current fiscal year.

Several large investors recently modified their holdings of the stock. I.G. Investment Management LTD. boosted its stake in shares of DavidsTea by 1.1% in the fourth quarter. I.G. Investment Management LTD. now owns 146,200 shares of the company’s stock worth $1,811,000 after buying an additional 1,600 shares in the last quarter. Janus Capital Management boosted its stake in shares of DavidsTea by 64.6% in the third quarter. Janus Capital Management now owns 299,949 shares of the company’s stock worth $4,697,000 after buying an additional 117,699 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of DavidsTea by 1.6% in the fourth quarter. Jennison Associates LLC now owns 880,679 shares of the company’s stock worth $10,912,000 after buying an additional 13,712 shares in the last quarter.

DavidsTea Inc is a beverage company, which offers various selection of loose-leaf teas, pre-packaged teas, tea sachets, and tea-related gifts and accessories. The Company operates through two segments: Canada and the United States. The Company is engaged in the retail of tea and related tea-products.

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