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Dollar Tree (NASDAQ:DLTR) downgraded to “neutral” at Citigroup

Dollar Tree (NASDAQ:DLTR – Get a Free Report) was downgraded from a “buy” rating to a “neutral” rating by Citigroup research analysts in a report issued Thursday, Briefing.com reports. They currently have a $120.00 price target on the stock, down from their previous price target of $163.00. Citigroup’s price target would suggest a potential upside of 4.91% from the company’s current share price.

Other analysts also recently published reports on the company. TheStreet downgraded Dollar Tree from a “b-” rating to a “c” rating in a report on Wednesday, March 13. Gordon Haskett downgraded Dollar Tree from a “buy” rating to a “hold” rating and lowered his price target for the company from $150.00 to $140.00 in a research note on Wednesday, April 3. Piper Sandler lowered their price target on Dollar Tree from $171.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14. Oppenheimer reiterated a “market perform” rating for shares of Dollar Tree in a report on Monday, March 4th. Finally, BMO Capital Markets lowered their price objective on Dollar Tree from $170.00 to $160.00 and set an “outperform” rating for the stock in a report on Thursday, March 14. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Dollar Tree has an average rating of “Moderate Buy” and an average price target of $148.40.

Check out our latest report on DLTR

Dollar tree trading drops 4.9%

DLTR opened at $114.38 on Thursday. The stock has a market cap of $24.96 billion, a price-to-earnings ratio of -24.76, a price-to-earnings ratio of 1.17 and a beta of 0.90. The company has a quick ratio of 0.22, a current ratio of 1.31 and a debt-to-equity ratio of 0.47. Dollar Tree has a 12-month low of $102.77 and a 12-month high of $154.96. The company has a 50-day simple moving average of $121.93 and a 200-day simple moving average of $130.18.

Dollar Tree (NASDAQ:DLTR – Get Free Report) last reported its earnings results on Wednesday, June 5. The company reported $1.43 earnings per share for the quarter, meeting the consensus estimate of $1.43. Dollar Tree had a positive return on equity of 15.11% and a negative net margin of 3.26%. The company had revenue of $7.63 billion during the quarter, compared to analyst expectations of $7.63 billion. During the same period last year, the company earned $1.47 in earnings per share. The company’s quarterly revenue rose 4.2% year over year. Analysts predict that Dollar Tree will post earnings per share of 6.88 for the current fiscal year.

Buying and selling with insider information

In other news, Director Daniel J. Heinrich acquired 1,000 shares of the company’s stock in a transaction on Monday, March 18. The shares were purchased at an average price of $127.85 per share, for a total value of $127,850.00. Following the completion of the acquisition, the director now owns 6,225 shares of the company’s stock, valued at $795,866.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission and available on the SEC’s website. In other Dollar Tree news, President Daniel J. Heinrich purchased 1,000 shares of stock in a transaction that occurred on Monday, March 18th. The shares were purchased at an average cost of $127.85 per share, for a total transaction of $127,850.00. Following the completion of the transaction, the director now owns 6,225 shares of the company’s stock, valued at approximately $795,866.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, CFO Jeffrey A. Davis purchased 1,800 shares of stock in a transaction that occurred on Monday, April 1. The shares were acquired at an average price of $136.00 per share, for a total transaction of $244,800.00. Following the completion of the transaction, the Chief Financial Officer now directly owns 19,047 shares of the company’s stock, valued at approximately $2,590,392. The explanation for this purchase can be found here. 6.80% of the shares are currently owned by business insiders.

Institutional investors are weighing in on the dollar boom

Several major investors have recently increased or decreased their stakes in DLTR. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Dollar Tree worth $26,000 during the third quarter. ICA Group Wealth Management LLC acquired a new stake in Dollar Tree worth $26,000 during the fourth quarter. United Community Bank acquired a new stake in Dollar Tree worth $27,000 during the fourth quarter. Register Financial Advisors LLC acquired a new stake in Dollar Tree worth $28,000 during the first quarter. Finally, Operase Advisors LLC acquired a new stake in Dollar Tree worth $34,000 during the 3rd quarter. 97.40% of the shares are owned by hedge funds and other institutional investors.

Dollar Tree Company Profile

(Get a free report)

Dollar Tree, Inc operates discount stores. The company operates in two segments, Dollar Tree and Family Dollar. The Dollar Tree segment offers merchandise at the flat price of $1.25. It offers consumables including daily consumables such as household paper and chemicals, food, candy, health care products, personal care products and frozen and chilled food; Miscellaneous merchandise consisting of toys, durable household items, gifts, stationery, party supplies, greeting cards, softlines, arts and crafts supplies and other items; and seasonal items, including merchandise for Christmas, Easter, Halloween and Valentine’s Day.

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Analyst Recommendations for Dollar Tree (NASDAQ:DLTR)

This instant news alert was generated by narrative science technology and financial data from MarketBeat to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat editorial staff before publication. Send any questions or comments about this story to [email protected].

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