Johnson Rice Upgrades Dollar Tree Inc. (DLTR) to “Accumulate”
Dollar Tree Inc. (NASDAQ:DLTR) was upgraded by stock analysts at Johnson Rice from a “hold” rating to an “accumulate” rating in a research report issued to clients and investors on Tuesday.
DLTR has been the subject of several other reports. Deutsche Bank AG upgraded Dollar Tree from a “hold” rating to a “buy” rating and boosted their target price for the stock from $82.00 to $110.00 in a report on Monday, August 1st. MKM Partners restated a “buy” rating and issued a $104.00 target price (up from $80.00) on shares of Dollar Tree in a report on Tuesday, August 23rd. Piper Jaffray Cos. restated a “neutral” rating and issued a $85.00 target price (down from $87.00) on shares of Dollar Tree in a report on Monday, August 29th. Citigroup Inc. restated a “neutral” rating and issued a $89.00 target price (down from $100.00) on shares of Dollar Tree in a report on Wednesday, August 31st. Finally, Goldman Sachs Group Inc. restated a “buy” rating and issued a $101.00 target price on shares of Dollar Tree in a report on Tuesday, September 6th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $91.14.
Shares of Dollar Tree (NASDAQ:DLTR) opened at 80.54 on Tuesday. The firm has a market cap of $18.99 billion, a P/E ratio of 26.72 and a beta of 0.57. The stock’s 50 day moving average is $76.67 and its 200-day moving average is $85.73. Dollar Tree has a 52-week low of $66.56 and a 52-week high of $99.93.
Dollar Tree (NASDAQ:DLTR) last announced its quarterly earnings results on Thursday, August 25th. The company reported $0.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The firm earned $5.02 billion during the quarter, compared to the consensus estimate of $5.08 billion. Dollar Tree had a net margin of 3.50% and a return on equity of 16.29%. The company’s quarterly revenue was up 66.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 EPS. Equities analysts anticipate that Dollar Tree will post $3.80 earnings per share for the current fiscal year.
In other Dollar Tree news, Director Lemuel E. Lewis purchased 1,470 shares of the company’s stock in a transaction dated Tuesday, August 30th. The shares were bought at an average price of $85.00 per share, with a total value of $124,950.00. Following the completion of the transaction, the director now directly owns 9,469 shares in the company, valued at approximately $804,865. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Conrad M. Hall purchased 5,000 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were acquired at an average cost of $85.60 per share, for a total transaction of $428,000.00. Following the transaction, the director now owns 799 shares of the company’s stock, valued at $68,394.40. The disclosure for this purchase can be found here. 4.10% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. British Columbia Investment Management Corp increased its position in Dollar Tree by 26.6% in the second quarter. British Columbia Investment Management Corp now owns 111,534 shares of the company’s stock worth $10,511,000 after buying an additional 23,467 shares during the last quarter. Swarthmore Group Inc. purchased a new position in Dollar Tree during the second quarter worth about $13,700,000. First Republic Investment Management Inc. increased its position in Dollar Tree by 40.1% in the first quarter. First Republic Investment Management Inc. now owns 8,494 shares of the company’s stock worth $700,000 after buying an additional 2,431 shares during the last quarter. Euclid Advisors LLC increased its position in Dollar Tree by 668.3% in the first quarter. Euclid Advisors LLC now owns 72,062 shares of the company’s stock worth $5,942,000 after buying an additional 62,682 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in Dollar Tree by 3.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,489 shares of the company’s stock worth $700,000 after buying an additional 290 shares during the last quarter. 96.46% 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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