Dollar Tree Upgraded to “Buy” by Deutsche Bank (DLTR)
Dollar Tree (NASDAQ:DLTR) was upgraded by equities researchers at Deutsche Bank from a “hold” rating to a “buy” rating in a research report issued on Monday, TheFlyOnTheWall.com reports. The firm currently has a $60.00 price objective on the stock, up from their previous price objective of $49.00. Deutsche Bank’s target price suggests a potential upside of 12.59% from the stock’s previous close.
Shares of Dollar Tree (NASDAQ:DLTR) traded up 1.69% during mid-day trading on Monday, hitting $54.19. 1,199,625 shares of the company’s stock traded hands. Dollar Tree has a 52-week low of $37.12 and a 52-week high of $55.02. The stock has a 50-day moving average of $53.17 and a 200-day moving average of $48.60. The company has a market cap of $12.106 billion and a price-to-earnings ratio of 18.83. Dollar Tree also saw unusually large options trading activity on Friday. Traders acquired 2,092 put options on the company. This represents an increase of 309% compared to the average daily volume of 512 put options.
Dollar Tree (NASDAQ:DLTR) last announced its earnings results on Thursday, August 22nd. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by $0.01. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Analysts expect that Dollar Tree will post $2.81 EPS for the current fiscal year.
DLTR has been the subject of a number of other recent research reports. Analysts at Wedbush raised their price target on shares of Dollar Tree from $56.00 to $60.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Dollar Tree from $56.00 to $60.00 in a research note to investors on Friday. Finally, analysts at Canaccord Genuity raised their price target on shares of Dollar Tree from $47.00 to $49.00 in a research note to investors on Friday. They now have a “hold” rating on the stock.
Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $55.63.
Dollar Tree, Inc (NASDAQ:DLTR) is an operator of discount variety stores offering merchandise at the fixed price.
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