The Goldman Sachs Group Inc. Downgrades Dollar Tree Inc. (DLTR) to Buy

The Goldman Sachs Group Inc. Downgrades Dollar Tree Inc. (DLTR) to Buy

Dollar Tree Inc. (NASDAQ:DLTR) was downgraded by stock analysts at Goldman Sachs Group Inc. from a “conviction-buy” rating to a “buy” rating in a report released on Thursday.

A number of other research firms have also weighed in on DLTR. Buckingham Research restated a “buy” rating and set a $117.00 price target (up from $106.00) on shares of Dollar Tree in a research report on Monday, November 28th. Credit Suisse Group AG set a $75.00 price target on shares of Dollar Tree and gave the stock a “sell” rating in a research report on Tuesday, November 22nd. Barclays PLC set a $84.00 price target on shares of Dollar Tree and gave the stock a “hold” rating in a research report on Wednesday, November 23rd. Loop Capital assumed coverage on shares of Dollar Tree in a research report on Wednesday, December 7th. They set a “hold” rating and a $91.00 price target on the stock. Finally, BMO Capital Markets restated a “market perform” rating and set a $96.00 price target (up from $95.00) on shares of Dollar Tree in a research report on Saturday, December 10th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. Dollar Tree has an average rating of “Hold” and an average price target of $91.05.

Dollar Tree (NASDAQ:DLTR) opened at 77.31 on Thursday. The stock’s 50 day moving average is $82.01 and its 200-day moving average is $84.61. The stock has a market capitalization of $18.25 billion, a price-to-earnings ratio of 22.73 and a beta of 0.62. Dollar Tree has a 12 month low of $72.52 and a 12 month high of $99.93.

Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings results on Tuesday, November 22nd. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. The firm had revenue of $5 billion for the quarter, compared to analyst estimates of $5.08 billion. Dollar Tree had a net margin of 3.93% and a return on equity of 17.15%. Dollar Tree’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 earnings per share. On average, equities research analysts expect that Dollar Tree will post $3.74 earnings per share for the current year.

In other Dollar Tree news, insider Joshua R. Jewett sold 6,716 shares of the stock in a transaction that occurred on Wednesday, November 30th. The shares were sold at an average price of $88.57, for a total value of $594,836.12. Following the sale, the insider now directly owns 6,063 shares of the company’s stock, valued at approximately $536,999.91. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.10% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the stock. Lone Pine Capital LLC increased its stake in shares of Dollar Tree by 15.1% in the second quarter. Lone Pine Capital LLC now owns 13,362,151 shares of the company’s stock worth $1,259,249,000 after buying an additional 1,755,667 shares in the last quarter. Morgan Stanley increased its stake in shares of Dollar Tree by 269.5% in the third quarter. Morgan Stanley now owns 2,113,564 shares of the company’s stock worth $166,824,000 after buying an additional 1,541,522 shares in the last quarter. Vontobel Asset Management Inc. purchased a new stake in shares of Dollar Tree during the third quarter worth approximately $124,190,000. 1832 Asset Management L.P. increased its stake in shares of Dollar Tree by 223.5% in the third quarter. 1832 Asset Management L.P. now owns 1,925,703 shares of the company’s stock worth $151,205,000 after buying an additional 1,330,348 shares in the last quarter. Finally, WestEnd Advisors LLC purchased a new stake in shares of Dollar Tree during the second quarter worth approximately $94,632,000. 94.12% of the stock is currently owned by institutional investors.

About Dollar Tree

Dollar Tree, Inc is an operator of discount variety stores. The Company operates approximately 13,851 discount variety retail stores. The Company’s segments include Dollar Tree and Family Dollar. The Dollar Tree segment operates discount variety stores offering merchandise at a fixed price. The Family Dollar segment operates a chain of general merchandise retail discount stores providing consumers with a selection of merchandise in neighborhood stores.

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