Zacks Investment Research upgraded shares of Dollar Tree, Inc. (NASDAQ:DLTR) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. They currently have $100.00 target price on the stock.
According to Zacks, “Dollar Tree raised its fiscal 2017 view after posting strong numbers for the second quarter. Further, Dollar Tree has been gaining from its integration of Family Dollar, which is contributing significantly to the company’s results. This has helped the stock to surpass the industry year to date. It also helped Dollar Tree to achieve comps growth for the 38th straight time in the second quarter, wherein both the top and bottom line grew year over year and topped the Zacks Consensus mark. Apart from solid performance at stores, growth of the company’s online business – Dollar Tree Direct also fueled results. Moreover, reduced merchandise and freight costs, as well as lower markdowns boosted margins. Based on these results and expected benefits from Family Dollar, management remains confident of the second half. However, volatile consumer behavior remains a concern for Dollar Tree. Also, significant global exposure may pose threats.”
Several other equities analysts have also commented on DLTR. BidaskClub lowered Dollar Tree from a sell rating to a strong sell rating in a research note on Tuesday, June 20th. Loop Capital restated a hold rating and set a $80.00 price target on shares of Dollar Tree in a research note on Friday, June 23rd. Sanford C. Bernstein restated an underperform rating and set a $65.00 price target on shares of Dollar Tree in a research note on Friday, June 30th. Deutsche Bank AG restated a buy rating and set a $95.00 price target on shares of Dollar Tree in a research note on Tuesday, July 4th. Finally, Buckingham Research restated a buy rating and set a $87.00 price target on shares of Dollar Tree in a research note on Wednesday, August 9th. Ten research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $90.14.
Shares of Dollar Tree (DLTR) traded down 0.09% during mid-day trading on Wednesday, hitting $91.15. 1,637,760 shares of the stock were exchanged. The stock’s 50 day moving average is $83.98 and its 200 day moving average is $77.47. Dollar Tree has a 12 month low of $65.63 and a 12 month high of $91.50. The firm has a market cap of $21.59 billion, a P/E ratio of 23.32 and a beta of 0.70.
Dollar Tree (NASDAQ:DLTR) last announced its quarterly earnings results on Thursday, August 24th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.87 by $0.12. The firm had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.24 billion. Dollar Tree had a return on equity of 18.07% and a net margin of 4.37%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 earnings per share. Analysts expect that Dollar Tree will post $4.68 EPS for the current fiscal year.
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In related news, insider David A. Jacobs sold 5,596 shares of Dollar Tree stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $88.25, for a total transaction of $493,847.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gary M. Philbin sold 9,950 shares of Dollar Tree stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $84.54, for a total value of $841,173.00. Following the sale, the insider now directly owns 34,532 shares of the company’s stock, valued at approximately $2,919,335.28. The disclosure for this sale can be found here. Insiders have sold 32,001 shares of company stock valued at $2,510,323 in the last ninety days. Corporate insiders own 4.10% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in DLTR. Waldron LP acquired a new stake in shares of Dollar Tree during the first quarter worth about $203,000. OppenheimerFunds Inc. lifted its holdings in shares of Dollar Tree by 23.8% during the first quarter. OppenheimerFunds Inc. now owns 33,320 shares of the company’s stock worth $2,614,000 after purchasing an additional 6,405 shares during the period. Royce & Associates LP lifted its holdings in shares of Dollar Tree by 362.6% during the first quarter. Royce & Associates LP now owns 44,575 shares of the company’s stock worth $3,497,000 after purchasing an additional 34,940 shares during the period. Turner Investments LLC lifted its holdings in shares of Dollar Tree by 16.7% during the first quarter. Turner Investments LLC now owns 21,000 shares of the company’s stock worth $1,648,000 after purchasing an additional 3,000 shares during the period. Finally, FDO Partners LLC lifted its holdings in shares of Dollar Tree by 206.9% during the first quarter. FDO Partners LLC now owns 31,280 shares of the company’s stock worth $2,454,000 after purchasing an additional 21,088 shares during the period. 90.74% of the stock is owned by hedge funds and other institutional investors.
About Dollar Tree
Dollar Tree, Inc is an operator of discount variety stores. As of January 28, 2017, the Company operated 14,334 stores in 48 states and the District of Columbia, and five Canadian provinces. Its segments include Dollar Tree and Family Dollar. The Dollar Tree segment is the operator of discount variety stores offering merchandise at a fixed price.
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