Dollar Tree (NASDAQ:DLTR) Given New $67.00 Price Target at Piper Sandler

Dollar Tree (NASDAQ:DLTR) had its price target decreased by Piper Sandler from $112.00 to $67.00 in a research note released on Thursday, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets cut shares of Dollar Tree from an outperform rating to a market perform rating and dropped their price target for the company from $130.00 to $68.00 in a research note on Thursday. Telsey Advisory Group dropped their target price on shares of Dollar Tree from $155.00 to $120.00 and set an outperform rating on the stock in a research report on Friday, August 30th. Loop Capital downgraded shares of Dollar Tree from a buy rating to a hold rating and set a $65.00 price target for the company. in a research report on Thursday. KeyCorp lowered their price objective on Dollar Tree from $145.00 to $84.00 and set an overweight rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. cut Dollar Tree from an overweight rating to a neutral rating and reduced their target price for the company from $111.00 to $70.00 in a report on Wednesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Dollar Tree currently has an average rating of Hold and a consensus target price of $95.00.

Dollar Tree Trading Down 2.9 %

Shares of Dollar Tree stock opened at $66.50 on Thursday. Dollar Tree has a fifty-two week low of $60.81 and a fifty-two week high of $151.21. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.23 and a current ratio of 1.28. The company has a market cap of $14.29 billion, a P/E ratio of -14.49, a price-to-earnings-growth ratio of 0.93 and a beta of 0.87. The firm has a 50-day simple moving average of $97.85 and a two-hundred day simple moving average of $114.94.

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

Insider Buying and Selling at Dollar Tree

In other news, insider Robert Aflatooni sold 827 shares of the company’s stock in a transaction 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 owns 9,725 shares of the company’s stock, valued at approximately $1,026,765.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Dollar Tree

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC purchased a new stake in Dollar Tree in the second quarter valued at approximately $779,000. New Wave Wealth Advisors LLC acquired a new stake in shares of Dollar Tree in the second quarter valued at $222,000. McGinn Penninger Investment Management Inc. raised its holdings in shares of Dollar Tree by 0.5% in the 2nd quarter. McGinn Penninger Investment Management Inc. now owns 45,503 shares of the company’s stock valued at $4,858,000 after buying an additional 210 shares during the period. Point72 Asset Management L.P. lifted its stake in Dollar Tree by 165.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,028,411 shares of the company’s stock worth $109,803,000 after acquiring 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 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,960 shares of the company’s stock worth $316,000 after acquiring an additional 1,490 shares in the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

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.