Dollar Tree (NASDAQ:DLTR) Downgraded by KeyCorp to Sector Weight

KeyCorp downgraded shares of Dollar Tree (NASDAQ:DLTR) from an overweight rating to a sector weight rating in a report released on Thursday morning, MarketBeat reports.

A number of other brokerages have also recently issued reports on DLTR. StockNews.com cut Dollar Tree from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. UBS Group decreased their price objective on shares of Dollar Tree from $155.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Citigroup reduced their price target on Dollar Tree from $120.00 to $64.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Sanford C. Bernstein assumed coverage on shares of Dollar Tree in a report on Tuesday, October 22nd. They set a “market perform” rating and a $76.00 price target on the stock. Finally, Wells Fargo & Company dropped their price target on shares of Dollar Tree from $130.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $88.11.

Dollar Tree Trading Down 3.1 %

NASDAQ:DLTR traded down $1.94 on Thursday, hitting $61.60. 3,345,201 shares of the stock were exchanged, compared to its average volume of 3,294,872. Dollar Tree has a 52 week low of $60.52 and a 52 week high of $151.21. The stock has a market capitalization of $13.24 billion, a price-to-earnings ratio of -13.02, a P/E/G ratio of 2.83 and a beta of 0.87. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.17 and a current ratio of 1.02. The company’s 50-day moving average price is $69.76 and its 200 day moving average price is $95.00.

Dollar Tree (NASDAQ:DLTR) last issued its quarterly earnings results on Wednesday, September 4th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.37). Dollar Tree had a negative net margin of 3.44% and a positive return on equity of 15.77%. The business had revenue of $7.37 billion during the quarter, compared to analyst estimates of $7.49 billion. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The firm’s quarterly revenue was up .7% on a year-over-year basis. On average, equities research analysts forecast that Dollar Tree will post 5.33 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Daniel J. Heinrich purchased 2,200 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $68.27 per share, with a total value of $150,194.00. Following the purchase, the director now directly owns 9,823 shares of the company’s stock, valued at $670,616.21. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dollar Tree

Several hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI boosted its stake in shares of Dollar Tree by 223.4% during the first quarter. National Bank of Canada FI now owns 1,414,788 shares of the company’s stock valued at $188,379,000 after acquiring an additional 977,313 shares during the last quarter. Primecap Management Co. CA lifted its stake in shares of Dollar Tree by 50.0% during the second quarter. Primecap Management Co. CA now owns 2,872,460 shares of the company’s stock valued at $306,693,000 after buying an additional 957,275 shares during the period. Renaissance Technologies LLC boosted its position in Dollar Tree by 488.4% during the second quarter. Renaissance Technologies LLC now owns 1,044,595 shares of the company’s stock worth $111,531,000 after acquiring an additional 867,054 shares during the last quarter. Mizuho Markets Americas LLC acquired a new position in Dollar Tree in the 1st quarter valued at $99,862,000. Finally, Equity Investment Corp boosted its holdings in shares of Dollar Tree by 95.9% during the third quarter. Equity Investment Corp now owns 1,525,374 shares of the company’s stock worth $107,264,000 after purchasing an additional 746,913 shares during the last quarter. Hedge funds and other 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.