Dollar Tree Inc. (DLTR) Cut to Neutral at Cleveland Research
Several other analysts have also issued reports on the company. Jefferies Group reissued a hold rating on shares of Dollar Tree in a report on Monday, September 12th. Goldman Sachs Group Inc. reissued a buy rating on shares of Dollar Tree in a report on Wednesday, July 6th. Deutsche Bank AG raised Dollar Tree from a hold rating to a buy rating and boosted their price target for the company from $82.00 to $110.00 in a report on Monday, August 1st. Atlantic Securities lowered Dollar Tree from a neutral rating to an underweight rating and cut their price target for the company from $87.00 to $68.00 in a report on Tuesday, September 27th. Finally, MKM Partners reissued a buy rating and set a $104.00 price target (up previously from $80.00) on shares of Dollar Tree in a report on Tuesday, August 23rd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $91.77.
Shares of Dollar Tree (NASDAQ:DLTR) traded down 0.05% during trading on Tuesday, hitting $78.05. The company had a trading volume of 201,060 shares. The stock has a market capitalization of $18.40 billion, a P/E ratio of 25.90 and a beta of 0.54. The firm’s 50 day moving average is $83.11 and its 200-day moving average is $86.62. Dollar Tree has a 52 week low of $60.31 and a 52 week high of $99.93.
Dollar Tree (NASDAQ:DLTR) last released its quarterly earnings results on Thursday, August 25th. The company reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Dollar Tree had a net margin of 3.50% and a return on equity of 16.29%. The company had revenue of $5.02 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same period in the prior year, the firm posted $0.67 EPS. The business’s revenue for the quarter was up 66.0% on a year-over-year basis. Equities research analysts anticipate that Dollar Tree will post $3.80 EPS for the current fiscal year.
In other news, Director Thomas A. Saunders sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $95.50, for a total transaction of $477,500.00. Following the transaction, the director now owns 2,310,387 shares of the company’s stock, valued at $220,641,958.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lemuel E. Lewis bought 1,560 shares of the business’s stock in a transaction dated Tuesday, September 13th. The shares were acquired at an average cost of $80.00 per share, for a total transaction of $124,800.00. Following the purchase, the director now owns 11,029 shares of the company’s stock, valued at approximately $882,320. The disclosure for this purchase can be found here. Insiders own 4.10% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its position in Dollar Tree by 1.2% in the first quarter. Legal & General Group Plc now owns 926,139 shares of the company’s stock worth $76,364,000 after buying an additional 11,054 shares in the last quarter. Standard Life Investments LTD boosted its position in Dollar Tree by 38.5% in the second quarter. Standard Life Investments LTD now owns 2,797,544 shares of the company’s stock worth $263,654,000 after buying an additional 777,451 shares in the last quarter. Retirement Systems of Alabama boosted its position in Dollar Tree by 1.8% in the second quarter. Retirement Systems of Alabama now owns 120,093 shares of the company’s stock worth $11,318,000 after buying an additional 2,111 shares in the last quarter. Calamos Advisors LLC acquired a new position in Dollar Tree during the second quarter worth approximately $28,225,000. Finally, Grand Jean Capital Management Inc. acquired a new position in Dollar Tree during the first quarter worth approximately $9,270,000. 94.37% of the stock is currently 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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