Buckingham Research Reiterates “Buy” Rating for Dollar Tree Inc. (DLTR)
Dollar Tree Inc. (NASDAQ:DLTR)‘s stock had its “buy” rating reiterated by stock analysts at Buckingham Research in a research report issued to clients and investors on Monday. They currently have a $117.00 price target on the stock, up from their prior price target of $106.00. Buckingham Research’s price target would suggest a potential upside of 31.20% from the company’s current price.
A number of other research firms have also issued reports on DLTR. Deutsche Bank AG lowered their target price on Dollar Tree from $104.00 to $96.00 and set a “buy” rating on the stock in a report on Monday, October 10th. Jefferies Group reissued a “hold” rating and set a $80.00 price objective on shares of Dollar Tree in a report on Thursday, November 10th. MKM Partners lowered Dollar Tree from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $104.00 to $80.00 in a report on Friday, August 26th. They noted that the move was a valuation call. Piper Jaffray Cos. reissued a “neutral” rating and set a $85.00 price objective (down previously from $87.00) on shares of Dollar Tree in a report on Monday, August 29th. Finally, Barclays PLC started coverage on Dollar Tree in a report on Thursday, September 22nd. They set an “equal weight” rating and a $88.00 price objective on the stock. Four analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. Dollar Tree presently has an average rating of “Hold” and an average target price of $91.73.
Dollar Tree (NASDAQ:DLTR) opened at 89.18 on Monday. The company has a market cap of $21.03 billion, a PE ratio of 29.59 and a beta of 0.57. Dollar Tree has a 1-year low of $72.52 and a 1-year high of $99.93. The stock has a 50 day moving average price of $78.04 and a 200 day moving average price of $85.88.
Dollar Tree (NASDAQ:DLTR) last released its earnings results on Tuesday, November 22nd. The company reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.03. The firm had revenue of $5 billion for the quarter, compared to analyst estimates of $5.08 billion. Dollar Tree had a return on equity of 17.15% and a net margin of 3.93%. The company’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 EPS. Equities analysts forecast that Dollar Tree will post $3.81 earnings per share for the current year.
In other Dollar Tree news, Director Lemuel E. Lewis bought 1,560 shares of the firm’s stock in a transaction on Tuesday, September 13th. The stock was purchased at an average cost of $80.00 per share, with a total value of $124,800.00. Following the completion of the purchase, the director now owns 11,029 shares in the company, valued at $882,320. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lemuel E. Lewis bought 1,470 shares of the firm’s stock in a transaction on Tuesday, August 30th. The stock was acquired at an average cost of $85.00 per share, with a total value of $124,950.00. Following the completion of the purchase, the director now owns 9,469 shares of the company’s stock, valued at approximately $804,865. The disclosure for this purchase can be found here. 4.10% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its position in Dollar Tree by 7.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 649,796 shares of the company’s stock worth $51,288,000 after buying an additional 46,520 shares during the last quarter. Sawtooth Solutions LLC boosted its position in Dollar Tree by 4.6% in the third quarter. Sawtooth Solutions LLC now owns 4,557 shares of the company’s stock worth $360,000 after buying an additional 201 shares during the last quarter. Peloton Wealth Strategists acquired a new position in Dollar Tree during the third quarter worth about $1,223,000. Grandeur Peak Global Advisors LLC acquired a new position in Dollar Tree during the third quarter worth about $395,000. Finally, Credit Suisse AG boosted its position in Dollar Tree by 13.6% in the third quarter. Credit Suisse AG now owns 528,559 shares of the company’s stock worth $41,718,000 after buying an additional 63,229 shares during the last quarter. 94.35% 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. 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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