Dollar Tree (NASDAQ:DLTR) Price Target Lowered to $79.00 at Truist Financial

Dollar Tree (NASDAQ:DLTR) had its price target cut by Truist Financial from $140.00 to $79.00 in a report issued on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts also recently weighed in on the company. BMO Capital Markets downgraded Dollar Tree from an outperform rating to a market perform rating and reduced their target price for the stock from $130.00 to $68.00 in a research note on Thursday. KeyCorp reduced their target price on Dollar Tree from $145.00 to $84.00 and set an overweight rating for the company in a research note on Thursday. Piper Sandler reduced their target price on Dollar Tree from $112.00 to $67.00 and set a neutral rating for the company in a research note on Thursday. Morgan Stanley dropped their price target on Dollar Tree from $130.00 to $80.00 and set an equal weight rating for the company in a research report on Thursday. Finally, Wells Fargo & Company dropped their price target on Dollar Tree from $160.00 to $130.00 and set an overweight rating for the company in a research report on Tuesday, August 27th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Dollar Tree currently has a consensus rating of Hold and an average price target of $97.63.

Dollar Tree Trading Up 7.7 %

Shares of NASDAQ:DLTR opened at $68.47 on Thursday. Dollar Tree has a 12-month low of $60.81 and a 12-month high of $151.21. The company has a market capitalization of $14.72 billion, a PE ratio of -14.92, a PEG ratio of 0.93 and a beta of 0.87. The business has a 50 day moving average of $98.65 and a two-hundred day moving average of $115.69. The company has a current ratio of 1.28, a quick ratio of 0.23 and a debt-to-equity ratio of 0.47.

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

Insider Activity at Dollar Tree

In related news, insider Robert Aflatooni sold 827 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $105.58, for a total value of $87,314.66. Following the transaction, the insider now directly owns 9,725 shares in the company, valued at $1,026,765.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new position in Dollar Tree in the second quarter valued at approximately $779,000. New Wave Wealth Advisors LLC acquired a new position in Dollar Tree during the second quarter worth $222,000. McGinn Penninger Investment Management Inc. lifted its stake in Dollar Tree by 0.5% during the second 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. lifted its stake 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 worth $109,803,000 after purchasing an additional 640,848 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Dollar Tree by 101.4% during the second 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 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.