Telsey Advisory Group Reaffirms Market Perform Rating for Dollar Tree (NASDAQ:DLTR)

Dollar Tree (NASDAQ:DLTR)‘s stock had its “market perform” rating reissued by research analysts at Telsey Advisory Group in a note issued to investors on Thursday,Benzinga reports. They currently have a $75.00 price objective on the stock. Telsey Advisory Group’s price target points to a potential upside of 6.91% from the stock’s current price.

Several other brokerages have also recently weighed in on DLTR. Piper Sandler restated a “neutral” rating and set a $72.00 target price (up from $67.00) on shares of Dollar Tree in a report on Thursday, December 5th. Loop Capital boosted their price objective on Dollar Tree from $65.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Guggenheim cut their price objective on shares of Dollar Tree from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, December 6th. Evercore ISI decreased their target price on shares of Dollar Tree from $94.00 to $92.00 and set an “in-line” rating on the stock in a report on Tuesday, December 3rd. Finally, KeyCorp cut shares of Dollar Tree from an “overweight” rating to a “sector weight” rating in a research note on Thursday, November 7th. Sixteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $85.58.

Dollar Tree Stock Performance

NASDAQ DLTR opened at $70.15 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.03 and a quick ratio of 0.17. The stock’s 50 day simple moving average is $73.25 and its 200-day simple moving average is $72.36. The company has a market cap of $15.08 billion, a PE ratio of -14.71, a price-to-earnings-growth ratio of 2.16 and a beta of 0.91. Dollar Tree has a 1-year low of $60.49 and a 1-year high of $151.00.

Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings data on Wednesday, December 4th. The company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.07 by $0.05. The firm had revenue of $7.57 billion during the quarter, compared to the consensus estimate of $7.45 billion. Dollar Tree had a positive return on equity of 16.89% and a negative net margin of 3.34%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.97 EPS. As a group, equities research analysts anticipate that Dollar Tree will post 5.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Dollar Tree

Several institutional investors have recently bought and sold shares of the company. Empower Advisory Group LLC boosted its stake in shares of Dollar Tree by 41.3% in the third quarter. Empower Advisory Group LLC now owns 659,747 shares of the company’s stock valued at $46,393,000 after purchasing an additional 192,754 shares during the period. Farther Finance Advisors LLC boosted its position in Dollar Tree by 374.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,277 shares of the company’s stock valued at $160,000 after buying an additional 1,797 shares during the period. Equity Investment Corp grew its stake in shares of Dollar Tree by 95.9% in the third quarter. Equity Investment Corp now owns 1,525,374 shares of the company’s stock worth $107,264,000 after acquiring an additional 746,913 shares in the last quarter. Forest Avenue Capital Management LP purchased a new stake in shares of Dollar Tree during the third quarter worth $19,591,000. Finally, Anthracite Investment Company Inc. acquired a new stake in shares of Dollar Tree in the third quarter valued at $2,813,000. 97.40% of the stock is owned by institutional investors and hedge funds.

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.