Zacks Investment Research upgraded shares of Dollar Tree (NASDAQ:DLTR) from a hold rating to a buy rating in a research report report published on Thursday. They currently have $121.00 price target on the stock.
According to Zacks, “Dollar Tree has outperformed the industry in the last three months mainly driven by robust earnings and sales surprise trends. The company delivered solid top and bottom-line results for third-quarter fiscal 2017, which marked its second straight earnings and sales beat. The company’s results gained from strong comps and improved margins. Comps improved for the 39th straight quarter, while reduced merchandise costs, lower markdowns and occupancy expenses aided margins. Moreover, the company is on track with the Family Dollar integration and re-banner process, which is likely to generate run rate savings of about $300 million in three years. Based on these results and expected benefits from Family Dollar, the company raised guidance for fiscal 2017 and provided a solid view for the fourth quarter. However, volatile consumer behavior remains a concern for Dollar Tree. Also, significant global exposure may pose threats.”
Other research analysts have also recently issued research reports about the stock. Moffett Nathanson began coverage on shares of Dollar Tree in a research report on Monday, December 4th. They issued a buy rating for the company. MKM Partners set a $96.00 price objective on shares of Dollar Tree and gave the stock a hold rating in a research report on Monday, November 20th. Bank of America boosted their price objective on shares of Dollar Tree from $105.00 to $115.00 and gave the stock a buy rating in a research report on Tuesday, November 21st. Jefferies Group restated a hold rating and issued a $85.00 price objective on shares of Dollar Tree in a research report on Tuesday, October 31st. Finally, JPMorgan Chase & Co. restated a buy rating and issued a $118.00 price objective on shares of Dollar Tree in a research report on Friday, November 3rd. Eleven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $101.79.
Dollar Tree (NASDAQ:DLTR) last posted its earnings results on Tuesday, November 21st. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.11. Dollar Tree had a net margin of 4.63% and a return on equity of 18.04%. The company had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. Dollar Tree’s quarterly revenue was up 6.3% compared to the same quarter last year. analysts anticipate that Dollar Tree will post 4.85 earnings per share for the current fiscal year.
In related news, Chairman Bob Sasser sold 64,002 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $99.74, for a total value of $6,383,559.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas A. Saunders sold 18,621 shares of the company’s stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $91.11, for a total transaction of $1,696,559.31. The disclosure for this sale can be found here. Insiders sold a total of 376,240 shares of company stock valued at $35,916,820 in the last three months. 4.10% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlueMountain Capital Management LLC boosted its stake in Dollar Tree by 119.0% in the 2nd quarter. BlueMountain Capital Management LLC now owns 1,518 shares of the company’s stock worth $106,000 after purchasing an additional 825 shares during the period. Sun Life Financial INC boosted its stake in Dollar Tree by 17,100.0% in the 2nd quarter. Sun Life Financial INC now owns 1,720 shares of the company’s stock worth $120,000 after purchasing an additional 1,710 shares during the period. Integrated Investment Consultants LLC acquired a new position in Dollar Tree in the 3rd quarter worth $150,000. YorkBridge Wealth Partners LLC boosted its stake in Dollar Tree by 2.0% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,877 shares of the company’s stock worth $131,000 after purchasing an additional 36 shares during the period. Finally, Advisory Services Network LLC boosted its stake in Dollar Tree by 0.6% in the 2nd quarter. Advisory Services Network LLC now owns 1,924 shares of the company’s stock worth $135,000 after purchasing an additional 12 shares during the period. 89.73% of the stock is owned by hedge funds and other institutional investors.
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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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