Truist Financial Cuts Dollar Tree (NASDAQ:DLTR) Price Target to $76.00

Dollar Tree (NASDAQ:DLTR) had its price target decreased by Truist Financial from $83.00 to $76.00 in a report released on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other analysts have also recently issued reports about the stock. StockNews.com raised shares of Dollar Tree from a “sell” rating to a “hold” rating in a report on Thursday, December 5th. Wells Fargo & Company lowered their price objective on Dollar Tree from $100.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Telsey Advisory Group reiterated a “market perform” rating and issued a $75.00 target price on shares of Dollar Tree in a research note on Thursday, March 6th. UBS Group lowered their price target on shares of Dollar Tree from $105.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Finally, Loop Capital boosted their target price on shares of Dollar Tree from $65.00 to $75.00 and gave the company a “hold” rating in a research note on Thursday, December 5th. Sixteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Dollar Tree presently has an average rating of “Hold” and a consensus price target of $83.68.

Dollar Tree Trading Up 11.2 %

Shares of DLTR opened at $76.95 on Tuesday. The stock has a market cap of $16.54 billion, a PE ratio of -16.13, a P/E/G ratio of 2.16 and a beta of 0.91. The stock’s 50-day moving average is $71.15 and its two-hundred day moving average is $70.18. Dollar Tree has a 12 month low of $60.49 and a 12 month high of $137.14. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.03 and a quick ratio of 0.17.

Dollar Tree (NASDAQ:DLTR) last released its earnings results on Wednesday, March 26th. The company reported $2.11 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.09). The business had revenue of $5 billion for the quarter, compared to analysts’ expectations of $8.23 billion. Dollar Tree had a negative net margin of 3.34% and a positive return on equity of 16.89%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the company posted $2.55 earnings per share. Equities analysts forecast that Dollar Tree will post 5.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dollar Tree

Several institutional investors have recently bought and sold shares of DLTR. Kovitz Investment Group Partners LLC boosted its holdings in Dollar Tree by 382.7% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 6,524,870 shares of the company’s stock valued at $488,974,000 after acquiring an additional 5,173,238 shares during the period. Marshall Wace LLP raised its stake in Dollar Tree by 784.2% during the 4th quarter. Marshall Wace LLP now owns 4,377,366 shares of the company’s stock valued at $328,040,000 after purchasing an additional 3,882,324 shares during the last quarter. Balyasny Asset Management L.P. grew its position in Dollar Tree by 2,489.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,621,456 shares of the company’s stock worth $196,452,000 after buying an additional 2,520,237 shares in the last quarter. Norges Bank acquired a new stake in Dollar Tree during the fourth quarter worth $171,149,000. Finally, Capital International Investors increased its holdings in Dollar Tree by 30.1% in the 4th quarter. Capital International Investors now owns 8,753,693 shares of the company’s stock valued at $656,000,000 after buying an additional 2,023,819 shares during the period. 97.40% of the stock is currently owned by 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.