Dollar Tree (NASDAQ:DLTR) Shares Gap Up After Analyst Upgrade

Dollar Tree, Inc. (NASDAQ:DLTR)’s stock price gapped up before the market opened on Thursday after Evercore ISI raised their price target on the stock from $79.00 to $85.00. The stock had previously closed at $69.21, but opened at $70.76. Evercore ISI currently has an in-line rating on the stock. Dollar Tree shares last traded at $73.12, with a volume of 2,002,063 shares.

Several other analysts also recently weighed in on DLTR. Piper Sandler reiterated a “neutral” rating and set a $72.00 price target (up previously from $67.00) on shares of Dollar Tree in a research note on Thursday, December 5th. BMO Capital Markets upped their target price on Dollar Tree from $65.00 to $70.00 and gave the company a “market perform” rating in a research report on Thursday, December 5th. Truist Financial reduced their price target on shares of Dollar Tree from $83.00 to $76.00 and set a “buy” rating for the company in a research report on Tuesday. StockNews.com raised shares of Dollar Tree from a “sell” rating to a “hold” rating in a report on Thursday, December 5th. Finally, Loop Capital increased their price objective on shares of Dollar Tree from $65.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Sixteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $83.42.

Hedge Funds Weigh In On Dollar Tree

Large investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its stake 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 in the last quarter. Assetmark Inc. increased its stake in Dollar Tree by 74.1% during the 4th quarter. Assetmark Inc. now owns 350 shares of the company’s stock worth $26,000 after buying an additional 149 shares in the last quarter. Versant Capital Management Inc acquired a new position in shares of Dollar Tree during the fourth quarter valued at approximately $30,000. Parkside Financial Bank & Trust lifted its position in shares of Dollar Tree by 120.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 424 shares of the company’s stock valued at $32,000 after acquiring an additional 232 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Dollar Tree by 91.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 440 shares of the company’s stock worth $33,000 after acquiring an additional 210 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Dollar Tree Price Performance

The company has a 50-day moving average of $71.17 and a 200 day moving average of $70.21. The company has a quick ratio of 0.17, a current ratio of 1.03 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $15.64 billion, a PE ratio of -15.25, a PEG ratio of 2.16 and a beta of 0.91.

Dollar Tree (NASDAQ:DLTR) last released its earnings results on Wednesday, March 26th. The company reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). The business had revenue of $5 billion for the quarter, compared to analysts’ expectations of $8.23 billion. Dollar Tree had a positive return on equity of 16.89% and a negative net margin of 3.34%. Dollar Tree’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.55 EPS. Sell-side analysts predict that Dollar Tree, Inc. will post 5.39 EPS for the current year.

About Dollar Tree

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.