Evercore ISI Issues Positive Forecast for Dollar Tree (NASDAQ:DLTR) Stock Price

Dollar Tree (NASDAQ:DLTR) had its price target raised by research analysts at Evercore ISI from $104.00 to $108.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “in-line” rating on the stock. Evercore ISI’s target price would indicate a potential downside of 6.41% from the stock’s current price.

Other analysts also recently issued reports about the stock. Telsey Advisory Group reiterated a “market perform” rating and issued a $95.00 price objective on shares of Dollar Tree in a report on Wednesday, June 4th. Barclays upgraded shares of Dollar Tree from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $95.00 to $138.00 in a report on Monday, July 21st. Jefferies Financial Group began coverage on shares of Dollar Tree in a report on Thursday, July 17th. They issued a “hold” rating and a $106.00 price objective on the stock. Cfra Research upgraded shares of Dollar Tree to a “hold” rating in a report on Wednesday, May 28th. Finally, The Goldman Sachs Group downgraded shares of Dollar Tree from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, June 5th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $99.89.

Dollar Tree Stock Performance

Shares of DLTR opened at $115.40 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.72 and a current ratio of 1.04. Dollar Tree has a twelve month low of $60.49 and a twelve month high of $118.06. The firm’s 50 day moving average price is $105.96 and its two-hundred day moving average price is $86.75. The firm has a market cap of $24.08 billion, a P/E ratio of -8.33, a PEG ratio of 2.45 and a beta of 0.88.

Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings data on Wednesday, June 4th. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.05. Dollar Tree had a negative net margin of 12.15% and a positive return on equity of 19.36%. The company had revenue of $4.64 billion for the quarter, compared to the consensus estimate of $4.52 billion. During the same period last year, the company earned $1.43 earnings per share. The firm’s revenue was up 11.3% compared to the same quarter last year. On average, analysts forecast that Dollar Tree will post 5.39 EPS for the current fiscal year.

Dollar Tree declared that its board has approved a stock buyback plan on Wednesday, July 9th that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 11.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity at Dollar Tree

In related news, CMO Richard L. Mcneely sold 21,026 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $94.62, for a total value of $1,989,480.12. Following the transaction, the chief marketing officer directly owned 50,419 shares in the company, valued at approximately $4,770,645.78. This represents a 29.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Dollar Tree

Institutional investors and hedge funds have recently modified their holdings of the business. TD Private Client Wealth LLC grew its stake in shares of Dollar Tree by 164.0% in the second quarter. TD Private Client Wealth LLC now owns 264 shares of the company’s stock valued at $26,000 after acquiring an additional 164 shares in the last quarter. Bessemer Group Inc. lifted its position in Dollar Tree by 34,600.0% during the fourth quarter. Bessemer Group Inc. now owns 347 shares of the company’s stock worth $26,000 after purchasing an additional 346 shares during the period. Brooklyn Investment Group lifted its position in Dollar Tree by 79.0% during the first quarter. Brooklyn Investment Group now owns 358 shares of the company’s stock worth $27,000 after purchasing an additional 158 shares during the period. True Wealth Design LLC lifted its position in Dollar Tree by 372.5% during the second quarter. True Wealth Design LLC now owns 378 shares of the company’s stock worth $37,000 after purchasing an additional 298 shares during the period. Finally, Zions Bancorporation National Association UT bought a new stake in Dollar Tree during the first quarter worth about $30,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Dollar Tree Company Profile

Dollar Tree, Inc operates retail discount stores. The company operates in two segments, Dollar Tree and Family Dollar. The Dollar Tree segment offers merchandise at the fixed price of $ 1.25. It provides consumable merchandise, which includes everyday consumables, such as household paper and chemicals, food, candy, health, personal care products, and frozen and refrigerated food; variety merchandise comprising toys, durable housewares, gifts, stationery, party goods, greeting cards, softlines, arts and crafts supplies, and other items; and seasonal goods that include Christmas, Easter, Halloween, and Valentine's Day merchandise.