Dollar Tree, Inc. (NASDAQ:DLTR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage currently has a $100.00 price target on the stock. Zacks Investment Research‘s price target indicates a potential upside of 9.45% from the company’s current price.
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.”
Other analysts also recently issued research reports about the stock. BTIG Research restated a “buy” rating and set a $98.00 price objective on shares of Dollar Tree in a research report on Wednesday, August 23rd. Loop Capital restated a “buy” rating and set a $86.00 price objective on shares of Dollar Tree in a research report on Wednesday, August 9th. Sanford C. Bernstein upgraded shares of Dollar Tree from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $65.00 to $78.00 in a research report on Monday, August 28th. They noted that the move was a valuation call. Buckingham Research restated a “buy” rating and set a $87.00 price objective on shares of Dollar Tree in a research report on Wednesday, August 9th. Finally, BidaskClub upgraded shares of Dollar Tree from a “hold” rating to a “buy” rating in a research report on Tuesday, August 8th. Eleven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $90.14.
Shares of Dollar Tree (NASDAQ DLTR) traded up 0.13% on Wednesday, reaching $91.49. 878,488 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $84.47 and a 200 day moving average of $77.57. The firm has a market capitalization of $21.67 billion, a P/E ratio of 23.40 and a beta of 0.70. Dollar Tree has a one year low of $65.63 and a one year high of $92.15.
Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings data on Thursday, August 24th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.12. The business had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.24 billion. Dollar Tree had a net margin of 4.37% and a return on equity of 18.07%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 EPS. On average, equities research analysts predict that Dollar Tree will post $4.68 EPS for the current year.
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In other news, insider Gary M. Philbin sold 2,795 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $84.50, for a total transaction of $236,177.50. Following the transaction, the insider now directly owns 34,532 shares of the company’s stock, valued at approximately $2,917,954. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gary M. Philbin sold 9,950 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $84.54, for a total transaction of $841,173.00. Following the transaction, the insider now directly owns 34,532 shares in the company, valued at $2,919,335.28. The disclosure for this sale can be found here. Insiders sold a total of 18,341 shares of company stock worth $1,571,198 over the last three months. 4.10% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Dollar Tree by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 22,359,098 shares of the company’s stock worth $1,563,349,000 after purchasing an additional 691,393 shares during the period. FMR LLC grew its stake in shares of Dollar Tree by 49.4% during the 2nd quarter. FMR LLC now owns 17,309,462 shares of the company’s stock worth $1,210,277,000 after purchasing an additional 5,724,495 shares during the period. BlackRock Inc. grew its stake in shares of Dollar Tree by 10.3% during the 2nd quarter. BlackRock Inc. now owns 15,904,087 shares of the company’s stock worth $1,112,013,000 after purchasing an additional 1,479,936 shares during the period. State Street Corp grew its stake in shares of Dollar Tree by 2.5% during the 1st quarter. State Street Corp now owns 9,886,212 shares of the company’s stock worth $775,667,000 after purchasing an additional 239,221 shares during the period. Finally, Maverick Capital Ltd. grew its stake in shares of Dollar Tree by 86.7% during the 2nd quarter. Maverick Capital Ltd. now owns 8,135,605 shares of the company’s stock worth $568,842,000 after purchasing an additional 3,777,579 shares during the period. 90.74% of the stock is currently owned by institutional investors and hedge funds.
Dollar Tree Company Profile
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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