Sanford C. Bernstein Reiterates “Market Perform” Rating for Dollar Tree, Inc. (DLTR)
Dollar Tree, Inc. (NASDAQ:DLTR)‘s stock had its “market perform” rating reiterated by equities research analysts at Sanford C. Bernstein in a research report issued on Wednesday. They presently have a $87.00 price objective on the stock, up from their previous price objective of $78.00. Sanford C. Bernstein’s price target points to a potential downside of 12.80% from the stock’s previous close.
Other analysts have also recently issued research reports about the stock. KeyCorp reaffirmed an “overweight” rating and set a $115.00 price target (up previously from $98.00) on shares of Dollar Tree in a research report on Wednesday. BTIG Research reaffirmed a “buy” rating and set a $98.00 price target on shares of Dollar Tree in a research report on Wednesday, August 23rd. Loop Capital reaffirmed a “buy” rating and set a $86.00 price target on shares of Dollar Tree in a research report on Wednesday, August 9th. MKM Partners set a $96.00 price target on shares of Dollar Tree and gave the company a “hold” rating in a research report on Monday. Finally, Bank of America Corporation upped their price target on shares of Dollar Tree from $105.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $98.21.
Shares of Dollar Tree (DLTR) opened at $99.77 on Wednesday. The firm has a market capitalization of $23,655.12, a price-to-earnings ratio of 22.83, a P/E/G ratio of 1.56 and a beta of 0.59. Dollar Tree has a 1-year low of $65.63 and a 1-year high of $100.74. The company has a quick ratio of 0.43, a current ratio of 1.95 and a debt-to-equity ratio of 0.91.
Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings results on Tuesday, November 21st. The company reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.11. The business had revenue of $5.32 billion for the quarter, compared to analysts’ expectations of $5.28 billion. Dollar Tree had a net margin of 4.63% and a return on equity of 18.04%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 earnings per share. equities analysts anticipate that Dollar Tree will post 4.84 EPS for the current fiscal year.
In related news, insider Gary M. Philbin sold 2,795 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $84.50, for a total value of $236,177.50. Following the transaction, the insider now owns 34,532 shares of the company’s stock, valued at approximately $2,917,954. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Macon F. Brock, Jr. sold 63,000 shares of the firm’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $91.04, for a total transaction of $5,735,520.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 260,641 shares of company stock worth $23,726,199. 4.10% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Dollar Tree by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 22,359,098 shares of the company’s stock valued at $1,563,349,000 after acquiring an additional 691,393 shares in the last quarter. FMR LLC lifted its position in Dollar Tree by 49.4% in the 2nd quarter. FMR LLC now owns 17,309,462 shares of the company’s stock valued at $1,210,277,000 after acquiring an additional 5,724,495 shares in the last quarter. BlackRock Inc. lifted its position in Dollar Tree by 10.3% in the 2nd quarter. BlackRock Inc. now owns 15,904,087 shares of the company’s stock valued at $1,112,013,000 after acquiring an additional 1,479,936 shares in the last quarter. Macquarie Group Ltd. lifted its position in Dollar Tree by 184,411.9% in the 3rd quarter. Macquarie Group Ltd. now owns 8,303,037 shares of the company’s stock valued at $720,869,000 after acquiring an additional 8,298,537 shares in the last quarter. Finally, Maverick Capital Ltd. lifted its position in Dollar Tree by 86.7% in the 2nd quarter. Maverick Capital Ltd. now owns 8,135,605 shares of the company’s stock valued at $568,842,000 after acquiring an additional 3,777,579 shares in the last quarter. 94.81% of the stock is currently owned by institutional investors and hedge funds.
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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