Dollar Tree (NASDAQ:DLTR) Receives Buy Rating from Truist Financial

Dollar Tree (NASDAQ:DLTR)‘s stock had its “buy” rating reaffirmed by equities research analysts at Truist Financial in a research note issued on Wednesday, Marketbeat.com reports. They presently have a $127.00 target price on the stock, up from their previous target price of $109.00. Truist Financial’s target price would indicate a potential upside of 10.79% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Piper Sandler boosted their price objective on shares of Dollar Tree from $72.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday, June 5th. Guggenheim reiterated a “buy” rating and set a $100.00 price objective on shares of Dollar Tree in a research note on Thursday, June 5th. Telsey Advisory Group restated a “market perform” rating and issued a $95.00 target price on shares of Dollar Tree in a research note on Wednesday, June 4th. Wells Fargo & Company upped their target price on shares of Dollar Tree from $105.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Dollar Tree from $111.00 to $138.00 and gave the company an “overweight” rating in a research note on Monday, July 21st. 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $99.89.

Dollar Tree Price Performance

DLTR opened at $114.63 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 1.04 and a debt-to-equity ratio of 0.62. Dollar Tree has a 52-week low of $60.49 and a 52-week high of $118.06. The company has a 50 day moving average of $106.32 and a two-hundred day moving average of $87.02. The company has a market cap of $23.92 billion, a P/E ratio of -8.27, a P/E/G ratio of 2.47 and a beta of 0.88.

Dollar Tree (NASDAQ:DLTR) last released its quarterly earnings data on Wednesday, June 4th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.52 billion. During the same period in the previous year, the firm earned $1.43 earnings per share. Dollar Tree’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, analysts expect that Dollar Tree will post 5.39 earnings per share for the current year.

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

Insider Buying and Selling

In other Dollar Tree news, CMO Richard L. Mcneely sold 21,026 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $94.62, for a total transaction of $1,989,480.12. Following the transaction, the chief marketing officer directly owned 50,419 shares in the company, valued at $4,770,645.78. This represents a 29.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 6.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC raised its holdings in shares of Dollar Tree by 164.0% during the second quarter. TD Private Client Wealth LLC now owns 264 shares of the company’s stock worth $26,000 after purchasing an additional 164 shares during the period. Bessemer Group Inc. raised its holdings in shares of 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 raised its holdings in shares of 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 raised its holdings in shares of 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 acquired a new stake in shares of Dollar Tree during the first quarter worth $30,000. 97.40% of the stock is currently owned by institutional investors.

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.