JPMorgan Chase & Co. Upgrades Dollar Tree (NASDAQ:DLTR) to "Overweight"

JPMorgan Chase & Co. upgraded shares of Dollar Tree (NASDAQ:DLTR - Free Report) from a neutral rating to an overweight rating in a report issued on Thursday, Marketbeat reports. The brokerage currently has $111.00 price target on the stock, up from their prior price target of $72.00.

Several other equities research analysts have also recently commented on DLTR. Loop Capital reaffirmed a "hold" rating on shares of Dollar Tree in a report on Thursday, March 27th. Wells Fargo & Company upped their price objective on Dollar Tree from $90.00 to $105.00 and gave the stock an "overweight" rating in a research report on Monday. Truist Financial increased their price objective on Dollar Tree from $89.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday. Telsey Advisory Group reissued a "market perform" rating and set a $95.00 target price on shares of Dollar Tree in a research note on Wednesday. Finally, Cfra Research raised Dollar Tree to a "hold" rating in a research note on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $90.26.

Dollar Tree Stock Performance

Shares of NASDAQ:DLTR traded up $8.05 during midday trading on Thursday, reaching $96.67. 11,800,696 shares of the company's stock traded hands, compared to its average volume of 4,186,582. The company has a market cap of $20.79 billion, a price-to-earnings ratio of -20.27, a P/E/G ratio of 2.16 and a beta of 0.84. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.17 and a current ratio of 1.03. Dollar Tree has a one year low of $60.49 and a one year high of $115.87. The stock has a 50 day moving average of $81.67 and a 200 day moving average of $74.92.

Dollar Tree (NASDAQ:DLTR - Get Free Report) last released its earnings results on Wednesday, June 4th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.05. The firm had revenue of $4.64 billion during the quarter, compared to analysts' expectations of $4.52 billion. Dollar Tree had a positive return on equity of 16.89% and a negative net margin of 3.34%. The firm's revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the business posted $1.43 earnings per share. As a group, equities research analysts anticipate that Dollar Tree will post 5.39 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Aditya Maheshwari sold 1,238 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $74.70, for a total value of $92,478.60. Following the transaction, the chief accounting officer now owns 4,231 shares of the company's stock, valued at approximately $316,055.70. This trade represents a 22.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William W. Douglas III purchased 701 shares of Dollar Tree stock in a transaction that occurred on Wednesday, April 2nd. The stock was acquired at an average price of $75.00 per share, for a total transaction of $52,575.00. Following the transaction, the director now directly owns 1,377 shares of the company's stock, valued at $103,275. The trade was a 103.70% increase in their position. The disclosure for this purchase can be found here. Company insiders own 6.60% of the company's stock.

Hedge Funds Weigh In On Dollar Tree

Several hedge funds have recently added to or reduced their stakes in DLTR. Horizon Investments LLC lifted its stake in Dollar Tree by 5.1% in the first quarter. Horizon Investments LLC now owns 2,905 shares of the company's stock worth $218,000 after acquiring an additional 140 shares during the period. Assetmark Inc. increased its holdings in Dollar Tree by 74.1% in the 4th quarter. Assetmark Inc. now owns 350 shares of the company's stock worth $26,000 after buying an additional 149 shares during the period. Deseret Mutual Benefit Administrators increased its holdings in Dollar Tree by 20.9% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 907 shares of the company's stock worth $68,000 after buying an additional 157 shares during the period. Brooklyn Investment Group grew its stake in shares of Dollar Tree by 79.0% during the 1st quarter. Brooklyn Investment Group now owns 358 shares of the company's stock worth $27,000 after purchasing an additional 158 shares during the period. Finally, Private Trust Co. NA grew its stake in shares of Dollar Tree by 11.6% during the 1st quarter. Private Trust Co. NA now owns 1,527 shares of the company's stock worth $115,000 after purchasing an additional 159 shares during the period. 97.40% of the stock is currently owned by institutional investors.

Dollar Tree Company Profile

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.