Dollar Tree Inc. (DLTR) Downgraded by Vetr Inc. to Buy
Vetr downgraded shares of Dollar Tree Inc. (NASDAQ:DLTR) from a strong-buy rating to a buy rating in a report released on Tuesday. The firm currently has $86.00 target price on the stock.
DLTR has been the subject of a number of other research reports. BMO Capital Markets upped their price objective on shares of Dollar Tree from $84.00 to $95.00 and gave the stock a market perform rating in a research report on Tuesday, May 31st. BTIG Research started coverage on shares of Dollar Tree in a research report on Wednesday, June 1st. They issued a buy rating and a $104.00 price objective for the company. Citigroup Inc. reiterated a neutral rating and issued a $100.00 price objective (up previously from $84.00) on shares of Dollar Tree in a research report on Monday, June 6th. Buckingham Research reiterated a buy rating and issued a $106.00 price objective on shares of Dollar Tree in a research report on Wednesday, July 6th. Finally, Goldman Sachs Group Inc. reiterated a buy rating on shares of Dollar Tree in a research report on Wednesday, July 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $92.36.
Dollar Tree (NASDAQ:DLTR) traded down 0.51% during midday trading on Tuesday, hitting $80.05. The stock had a trading volume of 395,266 shares. The firm has a 50-day moving average of $87.08 and a 200 day moving average of $86.80. Dollar Tree has a 52-week low of $60.31 and a 52-week high of $99.93. The firm has a market capitalization of $18.87 billion, a P/E ratio of 26.56 and a beta of 0.43.
Dollar Tree (NASDAQ:DLTR) last posted its earnings results on Thursday, August 25th. The company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.08 billion. Dollar Tree had a net margin of 3.50% and a return on equity of 16.29%. The company’s revenue for the quarter was up 66.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.67 earnings per share. On average, equities analysts forecast that Dollar Tree will post $3.78 EPS for the current year.
In other Dollar Tree news, insider Barry W. Sullivan sold 2,449 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $83.21, for a total transaction of $203,781.29. Following the sale, the insider now directly owns 8,904 shares in the company, valued at approximately $740,901.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Lemuel E. Lewis bought 1,560 shares of Dollar Tree stock in a transaction on Tuesday, September 13th. The shares were acquired at an average price of $80.00 per share, for a total transaction of $124,800.00. Following the completion of the acquisition, the director now owns 11,029 shares in the company, valued at $882,320. The disclosure for this purchase can be found here. Company insiders own 4.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. raised its stake in Dollar Tree by 28.4% in the second quarter. Macquarie Group Ltd. now owns 165,614 shares of the company’s stock worth $15,607,000 after buying an additional 36,644 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Dollar Tree during the second quarter worth about $896,000. Kentucky Retirement Systems acquired a new stake in Dollar Tree during the second quarter worth about $1,888,000. Northwestern Mutual Investment Management Company LLC raised its stake in Dollar Tree by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 8,987 shares of the company’s stock worth $847,000 after buying an additional 23 shares during the period. Finally, Mason Street Advisors LLC acquired a new stake in Dollar Tree during the second quarter worth about $2,990,000. Institutional investors own 94.37% of the company’s stock.
Dollar Tree Company Profile
Dollar Tree, Inc is an operator of discount variety stores. The Company operates approximately 13,851 discount variety retail stores. The Company’s segments include Dollar Tree and Family Dollar. The Dollar Tree segment operates discount variety stores offering merchandise at a fixed price. The Family Dollar segment operates a chain of general merchandise retail discount stores providing consumers with a selection of merchandise in neighborhood stores.
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