Dollar Tree (NASDAQ:DLTR) Given New $101.00 Price Target at Piper Sandler

Dollar Tree (NASDAQ:DLTR) had its price target dropped by equities research analysts at Piper Sandler from $116.00 to $101.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 6.34% from the company’s current price.

DLTR has been the subject of several other reports. Weiss Ratings cut Dollar Tree from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, May 13th. Wall Street Zen cut Dollar Tree from a “buy” rating to a “hold” rating in a report on Sunday, April 19th. Barclays reiterated an “overweight” rating on shares of Dollar Tree in a report on Tuesday. Jefferies Financial Group upped their target price on Dollar Tree from $75.00 to $80.00 and gave the stock an “underperform” rating in a report on Tuesday, March 17th. Finally, BMO Capital Markets reiterated an “underperform” rating on shares of Dollar Tree in a report on Tuesday, March 17th. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have given a Sell rating to the company. According to MarketBeat, Dollar Tree currently has a consensus rating of “Hold” and an average price target of $120.86.

Dollar Tree Stock Performance

Shares of Dollar Tree stock opened at $94.98 on Tuesday. The stock’s fifty day moving average is $101.18 and its two-hundred day moving average is $114.07. The company has a market capitalization of $18.50 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 1.19 and a beta of 0.61. The company has a quick ratio of 0.29, a current ratio of 1.07 and a debt-to-equity ratio of 0.65. Dollar Tree has a 52 week low of $84.71 and a 52 week high of $142.40.

Dollar Tree (NASDAQ:DLTR) last issued its earnings results on Monday, March 16th. The company reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.03. Dollar Tree had a return on equity of 32.24% and a net margin of 6.61%.The business had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same period in the prior year, the business earned $2.11 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, analysts expect that Dollar Tree will post 6.73 earnings per share for the current year.

Institutional Investors Weigh In On Dollar Tree

A number of hedge funds have recently made changes to their positions in DLTR. Cullen Frost Bankers Inc. purchased a new stake in shares of Dollar Tree during the 4th quarter worth $25,000. Reflection Asset Management purchased a new stake in Dollar Tree in the fourth quarter valued at about $25,000. Covestor Ltd raised its stake in Dollar Tree by 60.9% in the fourth quarter. Covestor Ltd now owns 222 shares of the company’s stock valued at $27,000 after buying an additional 84 shares during the last quarter. Root Financial Partners LLC purchased a new stake in Dollar Tree in the third quarter valued at about $29,000. Finally, Wilkerson Advisory Group LLC raised its stake in Dollar Tree by 80.1% in the first quarter. Wilkerson Advisory Group LLC now owns 263 shares of the company’s stock valued at $29,000 after buying an additional 117 shares during the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

About Dollar Tree

Dollar Tree, Inc is a North American discount retailer that operates a portfolio of value-oriented store banners, primarily Dollar Tree and Family Dollar. The company’s stores offer a broad assortment of everyday items at low price points, including household essentials, food and snacks, health and beauty products, cleaning supplies, seasonal and party goods, home décor, and basic apparel. Dollar Tree’s merchandising strategy emphasizes high-turnover branded and private-label merchandise tailored to budget-conscious consumers, with Family Dollar complementing the chain by offering a wider range of price points and assortment depth in smaller-format neighborhood locations.

Founded in 1986 and headquartered in Chesapeake, Virginia, Dollar Tree has grown through both organic store openings and acquisitions.