Dollar Tree Sees Strong Trading Volume After Analyst Upgrade (DLTR)
Shares of Dollar Tree (NASDAQ:DLTR) saw an uptick in trading volume on Tuesday after Prime Executions upgraded the stock from a neutral rating to a buy rating, Analyst Ratings.Net reports. Prime Executions now has a $62.00 price target on the stock. 8,228,241 shares traded hands during mid-day trading, an increase of 136% from the previous session’s volume of 3,493,055 shares.The stock last traded at $54.52 and had previously closed at $54.87.
A number of other analysts have also recently weighed in on DLTR. Analysts at Morgan Stanley initiated coverage on shares of Dollar Tree in a research note on Wednesday, June 25th. They set an “equal weight” rating and a $61.00 price target on the stock. Separately, analysts at Northcoast Research upgraded shares of Dollar Tree from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 24th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Dollar Tree in a research note on Friday, June 13th. They now have a $57.00 price target on the stock. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $60.96.
The stock has a 50-day moving average of $54. and a 200-day moving average of $52.99. The company has a market cap of $11.259 billion and a price-to-earnings ratio of 19.56.
Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings results on Thursday, May 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. The company had revenue of $2.00 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, analysts predict that Dollar Tree will post $3.16 earnings per share for the current fiscal year.
Dollar Tree, Inc (NASDAQ:DLTR) is an operator of discount variety stores offering merchandise at the fixed price.
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