Wall Street Zen Downgrades Dollar Tree (NASDAQ:DLTR) to Hold

Dollar Tree (NASDAQ:DLTR) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

Several other analysts have also recently commented on DLTR. Evercore upgraded Dollar Tree to a “hold” rating in a report on Tuesday, February 3rd. Wells Fargo & Company raised their price target on shares of Dollar Tree from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, December 19th. Morgan Stanley dropped their price target on shares of Dollar Tree from $146.00 to $126.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 17th. Piper Sandler reaffirmed a “neutral” rating and issued a $116.00 price objective (up from $114.00) on shares of Dollar Tree in a research note on Tuesday, March 17th. Finally, BMO Capital Markets reiterated an “underperform” rating on shares of Dollar Tree in a research report on Tuesday, March 17th. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $123.24.

Dollar Tree Stock Down 1.2%

Shares of NASDAQ:DLTR opened at $105.74 on Friday. The firm has a market cap of $20.86 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.34 and a beta of 0.73. The company has a quick ratio of 0.29, a current ratio of 1.07 and a debt-to-equity ratio of 0.65. Dollar Tree has a 12-month low of $61.87 and a 12-month high of $142.40. The business has a fifty day simple moving average of $119.75 and a 200 day simple moving average of $113.13.

Dollar Tree (NASDAQ:DLTR) last released its quarterly earnings results on Monday, March 16th. The company reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.03. The firm had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.46 billion. Dollar Tree had a return on equity of 32.24% and a net margin of 6.61%.The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.11 EPS. Analysts predict that Dollar Tree will post 5.39 earnings per share for the current year.

Hedge Funds Weigh In On Dollar Tree

A number of institutional investors and hedge funds have recently modified their holdings of DLTR. NewEdge Advisors LLC grew its position in shares of Dollar Tree by 3,237.4% during the 1st quarter. NewEdge Advisors LLC now owns 13,750 shares of the company’s stock worth $1,032,000 after buying an additional 13,338 shares during the period. Woodline Partners LP lifted its position in shares of Dollar Tree by 40.7% during the 1st quarter. Woodline Partners LP now owns 17,078 shares of the company’s stock valued at $1,282,000 after acquiring an additional 4,941 shares during the period. Focus Partners Wealth boosted its stake in Dollar Tree by 2.0% during the first quarter. Focus Partners Wealth now owns 10,646 shares of the company’s stock worth $799,000 after acquiring an additional 213 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Dollar Tree during the second quarter worth $257,000. Finally, Coldstream Capital Management Inc. grew its holdings in Dollar Tree by 14.4% in the second quarter. Coldstream Capital Management Inc. now owns 2,678 shares of the company’s stock worth $265,000 after purchasing an additional 337 shares during the period. 97.40% of the stock is currently owned by institutional investors.

About Dollar Tree

Dollar Tree, Inc is a North American discount retailer that operates a portfolio of value-oriented store banners, primarily Dollar Tree and Family Dollar. The company’s stores offer a broad assortment of everyday items at low price points, including household essentials, food and snacks, health and beauty products, cleaning supplies, seasonal and party goods, home décor, and basic apparel. Dollar Tree’s merchandising strategy emphasizes high-turnover branded and private-label merchandise tailored to budget-conscious consumers, with Family Dollar complementing the chain by offering a wider range of price points and assortment depth in smaller-format neighborhood locations.

Founded in 1986 and headquartered in Chesapeake, Virginia, Dollar Tree has grown through both organic store openings and acquisitions.