Dollar Tree, Inc. (DLTR) Stock Rating Upgraded by Zacks Investment Research
Dollar Tree, Inc. (NASDAQ:DLTR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm presently has a $100.00 price target on the stock. Zacks Investment Research‘s target price indicates a potential upside of 9.61% from the stock’s previous close.
According to Zacks, “Dollar Tree raised its fiscal 2017 view after posting strong numbers for the second quarter. Further, Dollar Tree has been gaining from its integration of Family Dollar, which is contributing significantly to the company’s results. This has helped the stock to surpass the industry year to date. It also helped Dollar Tree to achieve comps growth for the 38th straight time in the second quarter, wherein both the top and bottom line grew year over year and topped the Zacks Consensus mark. Apart from solid performance at stores, growth of the company’s online business – Dollar Tree Direct also fueled results. Moreover, reduced merchandise and freight costs, as well as lower markdowns boosted margins. Based on these results and expected benefits from Family Dollar, management remains confident of the second half. However, volatile consumer behavior remains a concern for Dollar Tree. Also, significant global exposure may pose threats.”
A number of other equities research analysts have also commented on DLTR. BidaskClub lowered Dollar Tree from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 20th. Loop Capital restated a “hold” rating and set a $80.00 price target on shares of Dollar Tree in a research report on Friday, June 23rd. Sanford C. Bernstein restated an “underperform” rating and set a $65.00 price target on shares of Dollar Tree in a research report on Friday, June 30th. Deutsche Bank AG restated a “buy” rating and set a $95.00 price target on shares of Dollar Tree in a research report on Tuesday, July 4th. Finally, Buckingham Research restated a “buy” rating and set a $87.00 price target on shares of Dollar Tree in a research report on Wednesday, August 9th. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $90.14.
Shares of Dollar Tree (DLTR) traded up 2.16% on Wednesday, reaching $91.23. The company’s stock had a trading volume of 2,660,655 shares. The stock has a 50-day moving average of $83.98 and a 200 day moving average of $77.47. Dollar Tree has a 52 week low of $65.63 and a 52 week high of $91.41. The stock has a market capitalization of $21.61 billion, a price-to-earnings ratio of 23.34 and a beta of 0.70.
Dollar Tree (NASDAQ:DLTR) last released its quarterly earnings results on Thursday, August 24th. The company reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.12. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.24 billion. Dollar Tree had a return on equity of 18.07% and a net margin of 4.37%. Dollar Tree’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 EPS. On average, analysts expect that Dollar Tree will post $4.68 EPS for the current year.
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In other news, insider David A. Jacobs sold 5,596 shares of the firm’s stock in a transaction on Friday, October 6th. The stock was sold at an average price of $88.25, for a total value of $493,847.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Gary M. Philbin sold 2,795 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $84.50, for a total value of $236,177.50. Following the completion of the transaction, the insider now owns 34,532 shares in the company, valued at $2,917,954. The disclosure for this sale can be found here. Insiders sold a total of 39,445 shares of company stock worth $3,022,395 over the last 90 days. 2.90% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of DLTR. Waldron LP acquired a new stake in Dollar Tree during the 1st quarter worth $203,000. OppenheimerFunds Inc. raised its stake in Dollar Tree by 23.8% during the 1st quarter. OppenheimerFunds Inc. now owns 33,320 shares of the company’s stock worth $2,614,000 after buying an additional 6,405 shares during the period. Royce & Associates LP raised its stake in Dollar Tree by 362.6% during the 1st quarter. Royce & Associates LP now owns 44,575 shares of the company’s stock worth $3,497,000 after buying an additional 34,940 shares during the period. Turner Investments LLC raised its stake in Dollar Tree by 16.7% during the 1st quarter. Turner Investments LLC now owns 21,000 shares of the company’s stock worth $1,648,000 after buying an additional 3,000 shares during the period. Finally, FDO Partners LLC raised its stake in Dollar Tree by 206.9% during the 1st quarter. FDO Partners LLC now owns 31,280 shares of the company’s stock worth $2,454,000 after buying an additional 21,088 shares during the period. 90.74% 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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