Dollar Tree Inc. (DLTR) Downgraded to Neutral at Cleveland Research
Other research analysts have also issued research reports about the company. Goldman Sachs Group Inc. reiterated a buy rating on shares of Dollar Tree in a research report on Wednesday, July 6th. Buckingham Research reissued a buy rating and issued a $106.00 price objective on shares of Dollar Tree in a research note on Wednesday, July 6th. MKM Partners reissued a buy rating and issued a $104.00 price objective (up from $80.00) on shares of Dollar Tree in a research note on Tuesday, August 23rd. Deutsche Bank AG raised Dollar Tree from a hold rating to a buy rating and increased their price objective for the company from $82.00 to $110.00 in a research note on Monday, August 1st. Finally, Zacks Investment Research raised Dollar Tree from a hold rating to a buy rating and set a $106.00 price objective for the company in a research note on Monday, July 11th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $91.82.
Shares of Dollar Tree (NASDAQ:DLTR) traded down 0.47% during mid-day trading on Tuesday, hitting $76.07. 1,428,685 shares of the stock were exchanged. Dollar Tree has a 12 month low of $60.31 and a 12 month high of $99.93. The company has a 50-day moving average price of $84.19 and a 200-day moving average price of $86.76. The stock has a market cap of $17.94 billion, a price-to-earnings ratio of 25.24 and a beta of 0.54.
Dollar Tree (NASDAQ:DLTR) last announced 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. Dollar Tree had a net margin of 3.50% and a return on equity of 16.29%. The business had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter last year, the business earned $0.67 EPS. The company’s quarterly revenue was up 66.0% on a year-over-year basis. Equities analysts expect that Dollar Tree will post $3.81 earnings per share for the current year.
In other news, Director Lemuel E. Lewis purchased 1,560 shares of the business’s stock in a transaction on Tuesday, September 13th. The shares were bought at an average price of $80.00 per share, with a total value of $124,800.00. Following the completion of the transaction, the director now directly owns 11,029 shares in the company, valued at approximately $882,320. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Barry W. Sullivan sold 2,449 shares of Dollar Tree stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $83.21, for a total value of $203,781.29. Following the transaction, the insider now directly owns 8,904 shares in the company, valued at approximately $740,901.84. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DLTR. Tower Research Capital LLC TRC raised its position in Dollar Tree by 1,439.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,062 shares of the company’s stock worth $100,000 after buying an additional 993 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new position in Dollar Tree during the first quarter worth about $108,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Dollar Tree during the second quarter worth about $108,000. Signaturefd LLC raised its position in Dollar Tree by 1.5% in the second quarter. Signaturefd LLC now owns 1,266 shares of the company’s stock worth $119,000 after buying an additional 19 shares during the last quarter. Finally, Tredje AP fonden bought a new position in Dollar Tree during the second quarter worth about $120,000. 94.37% of the stock is currently owned by institutional investors.
About Dollar Tree
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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