Dollarama (TSE:DOL) Shares Up 10.4% After Analyst Upgrade

Dollarama Inc. (TSE:DOL - Get Free Report) shares rose 10.4% during trading on Wednesday after TD Securities raised their price target on the stock from C$185.00 to C$210.00. TD Securities currently has a buy rating on the stock. Dollarama traded as high as C$196.01 and last traded at C$194.00. Approximately 399,298 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 712,292 shares. The stock had previously closed at C$175.76.

Several other brokerages also recently weighed in on DOL. UBS Group raised their price target on shares of Dollarama from C$165.00 to C$196.00 in a research report on Thursday. Scotiabank lifted their price target on shares of Dollarama from C$175.00 to C$210.00 in a research note on Thursday. CIBC lifted their price target on shares of Dollarama from C$174.00 to C$204.00 in a research note on Thursday. Jefferies Financial Group lifted their target price on shares of Dollarama from C$180.00 to C$223.00 in a research note on Thursday. Finally, Royal Bank of Canada lifted their target price on shares of Dollarama from C$190.00 to C$207.00 in a research note on Thursday. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of C$186.36.

Insiders Place Their Bets

In other news, Senior Officer Mark Di Pesa sold 1,350 shares of the business's stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of C$173.51, for a total value of C$234,234.45. Also, Senior Officer Geoffrey Peter Robillard sold 28,000 shares of the business's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of C$160.00, for a total transaction of C$4,480,000.00. Insiders have sold a total of 33,481 shares of company stock worth $5,508,667 in the last 90 days. 2.23% of the stock is currently owned by corporate insiders.

Dollarama Price Performance

The company has a market capitalization of C$53.54 billion, a P/E ratio of 49.34, a P/E/G ratio of 1.93 and a beta of 0.56. The firm's fifty day moving average is C$171.10 and its 200 day moving average is C$153.31. The company has a debt-to-equity ratio of 369.36, a quick ratio of 0.08 and a current ratio of 1.43.

Dollarama Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, May 9th were issued a dividend of $0.1058 per share. This represents a $0.42 annualized dividend and a yield of 0.22%. This is an increase from Dollarama's previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, April 17th. Dollarama's dividend payout ratio is presently 9.42%.

Dollarama Company Profile

Dollarama Inc is a Canada-based company principally engaged in operating discount retail stores. The company provides a broad range of everyday consumer products, general merchandise, and seasonal items, with merchandise at low fixed price points. General merchandise and consumer products jointly account for the majority of the company's product offerings.