Citigroup Forecasts Strong Price Appreciation for Dollar Tree (NASDAQ:DLTR) Stock

Dollar Tree (NASDAQ:DLTR) had its price objective boosted by analysts at Citigroup from $64.00 to $76.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective points to a potential upside of 5.75% from the company’s previous close.

Other research analysts have also issued reports about the stock. Truist Financial decreased their price target on shares of Dollar Tree from $140.00 to $79.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Guggenheim decreased their target price on shares of Dollar Tree from $150.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Jefferies Financial Group boosted their price target on Dollar Tree from $70.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday. Sanford C. Bernstein initiated coverage on Dollar Tree in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $76.00 price objective for the company. Finally, Barclays dropped their target price on Dollar Tree from $128.00 to $81.00 and set an “equal weight” rating on the stock in a report on Thursday, September 5th. Seventeen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $85.58.

Dollar Tree Stock Performance

Dollar Tree stock opened at $71.87 on Thursday. Dollar Tree has a fifty-two week low of $60.49 and a fifty-two week high of $151.21. The stock has a market cap of $15.45 billion, a price-to-earnings ratio of -15.07, a PEG ratio of 2.87 and a beta of 0.92. The stock’s 50 day simple moving average is $67.58 and its two-hundred day simple moving average is $87.46. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.17 and a current ratio of 1.02.

Dollar Tree (NASDAQ:DLTR) last released its quarterly earnings results on Wednesday, December 4th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.05. The company had revenue of $7.57 billion for the quarter, compared to analyst estimates of $7.45 billion. Dollar Tree had a positive return on equity of 15.77% and a negative net margin of 3.44%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 earnings per share. As a group, analysts expect that Dollar Tree will post 5.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DLTR. Primecap Management Co. CA grew its position in Dollar Tree by 50.0% in the 2nd quarter. Primecap Management Co. CA now owns 2,872,460 shares of the company’s stock worth $306,693,000 after purchasing an additional 957,275 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Dollar Tree by 488.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,044,595 shares of the company’s stock worth $111,531,000 after buying an additional 867,054 shares during the last quarter. Equity Investment Corp grew its holdings 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 during the period. Point72 Asset Management L.P. increased its position in Dollar Tree by 165.4% during the second quarter. Point72 Asset Management L.P. now owns 1,028,411 shares of the company’s stock valued at $109,803,000 after acquiring an additional 640,848 shares during the last quarter. Finally, Canoe Financial LP purchased a new stake in Dollar Tree during the third quarter valued at $46,576,000. Institutional investors own 97.40% of the company’s stock.

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.