Citigroup Lowers Dollar Tree (NASDAQ:DLTR) Price Target to $64.00

Dollar Tree (NASDAQ:DLTR) had its target price cut by equities researchers at Citigroup from $120.00 to $64.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential downside of 4.48% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Piper Sandler lowered their target price on shares of Dollar Tree from $112.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. downgraded Dollar Tree from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $111.00 to $70.00 in a research report on Wednesday. Barclays lowered their price target on Dollar Tree from $128.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Thursday. Evercore ISI reduced their price objective on Dollar Tree from $128.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday. Finally, Truist Financial cut their target price on Dollar Tree from $140.00 to $79.00 and set a “buy” rating for the company in a research note on Thursday. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Dollar Tree presently has an average rating of “Hold” and an average target price of $97.63.

Dollar Tree Stock Performance

Dollar Tree stock traded up $3.44 during mid-day trading on Thursday, reaching $67.00. 15,866,903 shares of the company’s stock were exchanged, compared to its average volume of 3,022,546. The firm has a market capitalization of $14.40 billion, a PE ratio of -14.60, a P/E/G ratio of 0.93 and a beta of 0.87. The company has a quick ratio of 0.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. The business’s fifty day simple moving average is $99.39 and its 200 day simple moving average is $116.02. Dollar Tree has a one year low of $60.81 and a one year high of $151.21.

Dollar Tree (NASDAQ:DLTR) last released its 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 negative net margin of 3.23% and a positive return on equity of 15.67%. The company had revenue of $7.37 billion for the quarter, compared to the consensus estimate of $7.49 billion. During the same period in the prior year, the company earned $0.91 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. On average, sell-side analysts expect that Dollar Tree will post 6.46 earnings per share for the current year.

Insider Buying and Selling at Dollar Tree

In other Dollar Tree 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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Dollar Tree

A number of institutional investors have recently bought and sold shares of the stock. Capital International Investors boosted its position in Dollar Tree by 30.1% in the 4th quarter. Capital International Investors now owns 10,581,632 shares of the company’s stock worth $1,503,123,000 after purchasing an additional 2,445,827 shares in the last quarter. Norges Bank purchased a new stake in Dollar Tree in the 4th quarter worth $333,373,000. FIL Ltd raised its position in Dollar Tree by 96.0% during the fourth quarter. FIL Ltd now owns 3,197,638 shares of the company’s stock worth $454,224,000 after acquiring an additional 1,566,392 shares during the period. National Bank of Canada FI lifted its holdings in 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 purchasing an additional 977,313 shares in the last quarter. Finally, Primecap Management Co. CA grew its position in shares of Dollar Tree by 50.0% in the second quarter. Primecap Management Co. CA now owns 2,872,460 shares of the company’s stock valued at $306,693,000 after purchasing an additional 957,275 shares during the period. 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.