Lake Street Initiates Coverage on DavidsTea Inc to Buy

Lake Street Initiates Coverage on DavidsTea Inc(NASDAQ:DTEA). The shares have been rated Buy. The rating by Lake Street was issued on Jul 12, 2016.

In a different note, On Jul 7, 2016, BMO Capital said it Upgrades its rating on DavidsTea Inc. The shares have been rated ‘Outperform’ by the firm.

DavidsTea Inc (DTEA) shares turned negative on Fridays trading session with the shares closing down -0.01 points or -0.07% at a volume of 54,995. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $13.87. The peak price level was also seen at $13.87 while the days lowest was $13.54. Finally the shares closed at $13.72. The 52-week high of the shares is $20.36 while the 52-week low is $8.88. According to the latest information available, the market cap of the company is $336 M.

DavidsTea Inc(DTEA) last announced its earnings results on Jun 8, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $35.13M. Analysts had an estimated revenue of $43.33M. Earnings per share were $0.05. Analysts had estimated an EPS of $0.05.

DAVIDsTEA Inc is a Canada-based company engaged in the tea retail. The Company operates an online shop as well as a chain of tea stores under DAVIDsTEA brand name in Canada and the United States. It distributes a variety of traditional straight teas with blends and flavors. The Company develops teas with ingredients sourced worldwide. Its product offer comprises citrus cupcake and ayurvedic teas black green white and herbal teas rooibos mate pu’erh oolong as well as breakfast chocolate and licorice teas among others. Furthermore the Company sells a range of accessories and gift products such as mugs teapots kettles infusers filters spoons sweeteners as well as hand creams and body lotions.

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