Dollar Tree (NASDAQ:DLTR) Price Target Cut to $67.00 by Analysts at Piper Sandler

Dollar Tree (NASDAQ:DLTR) had its price objective lowered by Piper Sandler from $112.00 to $67.00 in a report published on Thursday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

A number of other brokerages have also recently issued reports on DLTR. JPMorgan Chase & Co. cut shares of Dollar Tree from an overweight rating to a neutral rating and cut their target price for the stock from $111.00 to $70.00 in a report on Wednesday. Morgan Stanley cut their target price on shares of Dollar Tree from $135.00 to $130.00 and set an equal weight rating on the stock in a report on Thursday, June 6th. Evercore ISI raised their target price on shares of Dollar Tree from $136.00 to $137.00 and gave the stock an in-line rating in a report on Thursday, June 20th. UBS Group cut their price target on Dollar Tree from $170.00 to $155.00 and set a buy rating on the stock in a report on Friday, June 28th. Finally, Citigroup cut Dollar Tree from a buy rating to a neutral rating and cut their price target for the company from $163.00 to $120.00 in a report on Thursday, June 6th. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Dollar Tree presently has a consensus rating of Hold and an average price target of $97.63.

Dollar Tree Stock Performance

Shares of DLTR stock opened at $68.47 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.23 and a current ratio of 1.28. Dollar Tree has a one year low of $60.81 and a one year high of $151.21. The company’s 50-day simple moving average is $98.65 and its 200-day simple moving average is $115.69. The stock has a market capitalization of $14.72 billion, a price-to-earnings ratio of -14.92, a PEG ratio of 0.93 and a beta of 0.87.

Dollar Tree (NASDAQ:DLTR) last issued its earnings results on Wednesday, September 4th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.37). Dollar Tree had a positive return on equity of 15.67% and a negative net margin of 3.23%. The business had revenue of $7.37 billion during the quarter, compared to the consensus estimate of $7.49 billion. During the same period in the prior year, the business earned $0.91 EPS. The business’s revenue was up .7% on a year-over-year basis. Equities analysts anticipate that Dollar Tree will post 6.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Dollar Tree news, insider Robert Aflatooni sold 827 shares of Dollar Tree stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $105.58, for a total value of $87,314.66. Following the transaction, the insider now owns 9,725 shares in the company, valued at $1,026,765.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. 6.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dollar Tree

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new position in Dollar Tree during the 2nd quarter worth approximately $779,000. New Wave Wealth Advisors LLC purchased a new position in Dollar Tree during the 2nd quarter worth approximately $222,000. McGinn Penninger Investment Management Inc. grew its position in Dollar Tree by 0.5% during the 2nd quarter. McGinn Penninger Investment Management Inc. now owns 45,503 shares of the company’s stock worth $4,858,000 after purchasing an additional 210 shares in the last quarter. Point72 Asset Management L.P. grew its position in Dollar Tree by 165.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,028,411 shares of the company’s stock worth $109,803,000 after purchasing an additional 640,848 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Dollar Tree by 101.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,960 shares of the company’s stock worth $316,000 after purchasing an additional 1,490 shares in the last quarter. 97.40% of the stock is currently owned by hedge funds and other 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.