Dollar Tree (NASDAQ:DLTR) Trading Up 6.4% – Still a Buy?

Dollar Tree, Inc. (NASDAQ:DLTR)’s stock price was up 6.4% on Thursday . The stock traded as high as $65.89 and last traded at $65.87. Approximately 706,094 shares were traded during trading, a decline of 80% from the average daily volume of 3,444,865 shares. The stock had previously closed at $61.92.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on DLTR shares. Jefferies Financial Group lifted their target price on shares of Dollar Tree from $70.00 to $75.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Piper Sandler reaffirmed a “neutral” rating and set a $72.00 price target (up previously from $67.00) on shares of Dollar Tree in a research note on Thursday, December 5th. StockNews.com raised shares of Dollar Tree from a “sell” rating to a “hold” rating in a research note on Thursday, December 5th. Loop Capital lifted their price target on shares of Dollar Tree from $65.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, December 5th. Finally, Guggenheim dropped their price target on shares of Dollar Tree from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, December 6th. Sixteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Dollar Tree presently has a consensus rating of “Hold” and an average target price of $84.79.

Dollar Tree Price Performance

The company’s fifty day moving average price is $71.99 and its 200 day moving average price is $70.97. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.17 and a current ratio of 1.03. The firm has a market capitalization of $13.88 billion, a price-to-earnings ratio of -13.53, a price-to-earnings-growth ratio of 2.16 and a beta of 0.91.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. boosted its stake in Dollar Tree by 0.6% during the 3rd quarter. Principal Financial Group Inc. now owns 232,455 shares of the company’s stock valued at $16,346,000 after purchasing an additional 1,485 shares during the period. Atria Investments Inc boosted its stake in Dollar Tree by 16.4% during the 3rd quarter. Atria Investments Inc now owns 15,927 shares of the company’s stock valued at $1,120,000 after purchasing an additional 2,244 shares during the period. Versor Investments LP acquired a new position in Dollar Tree during the 3rd quarter valued at about $457,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in Dollar Tree by 0.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 480,400 shares of the company’s stock valued at $33,782,000 after purchasing an additional 2,405 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its stake in Dollar Tree by 3.4% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 92,928 shares of the company’s stock valued at $6,535,000 after purchasing an additional 3,077 shares during the period. 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.