Dollar Tree (NASDAQ:DLTR) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Dollar Tree (NASDAQ:DLTR) from a hold rating to a buy rating in a research note published on Thursday, January 4th. Zacks Investment Research currently has $121.00 target price 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.”
A number of other equities research analysts also recently weighed in on DLTR. Piper Jaffray Companies reiterated a hold rating and set a $85.00 price target on shares of Dollar Tree in a research note on Friday, September 29th. MKM Partners boosted their target price on shares of Dollar Tree from $96.00 to $105.00 and gave the company a neutral rating in a research note on Wednesday, November 22nd. BMO Capital Markets restated a hold rating and issued a $90.00 target price on shares of Dollar Tree in a research note on Thursday, November 2nd. UBS Group reiterated a buy rating and set a $106.00 price target (up previously from $100.00) on shares of Dollar Tree in a research report on Tuesday, November 14th. Finally, Barclays reiterated a hold rating and set a $100.00 price target on shares of Dollar Tree in a research report on Friday, November 24th. Eleven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the stock. Dollar Tree has a consensus rating of Buy and a consensus price target of $105.27.
Dollar Tree (NASDAQ:DLTR) last announced its earnings results on Tuesday, November 21st. The company reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.11. Dollar Tree had a net margin of 4.63% and a return on equity of 18.04%. The business had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Dollar Tree’s revenue was up 6.3% compared to the same quarter last year. sell-side analysts forecast that Dollar Tree will post 4.88 EPS for the current year.
In related news, insider David A. Jacobs sold 9,192 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $99.80, for a total value of $917,361.60. Following the transaction, the insider now owns 13,199 shares in the company, valued at $1,317,260.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin S. Wampler sold 12,559 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $103.89, for a total value of $1,304,754.51. Following the completion of the transaction, the chief financial officer now owns 77,164 shares in the company, valued at approximately $8,016,567.96. The disclosure for this sale can be found here. Insiders have sold a total of 293,132 shares of company stock worth $28,348,680 in the last quarter. Company insiders own 2.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC boosted its stake in Dollar Tree by 0.6% in the second quarter. Advisory Services Network LLC now owns 1,924 shares of the company’s stock valued at $135,000 after buying an additional 12 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its stake in Dollar Tree by 2.0% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,877 shares of the company’s stock valued at $131,000 after buying an additional 36 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Dollar Tree by 0.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,584 shares of the company’s stock valued at $1,229,000 after buying an additional 73 shares in the last quarter. Atlantic Trust LLC boosted its stake in Dollar Tree by 2.9% in the second quarter. Atlantic Trust LLC now owns 5,425 shares of the company’s stock valued at $379,000 after buying an additional 155 shares in the last quarter. Finally, Zacks Investment Management boosted its stake in Dollar Tree by 3.3% in the second quarter. Zacks Investment Management now owns 7,210 shares of the company’s stock valued at $504,000 after buying an additional 233 shares in the last quarter. Institutional investors own 89.27% of the company’s stock.
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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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