Dollar Tree (NASDAQ:DLTR) Trading Up 6.4% – Still a Buy?

Dollar Tree, Inc. (NASDAQ:DLTR)’s stock price was up 6.4% on Thursday . The company traded as high as $65.89 and last traded at $65.87. Approximately 706,094 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 3,444,865 shares. The stock had previously closed at $61.92.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DLTR shares. Guggenheim reduced their price target on shares of Dollar Tree from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, December 6th. Truist Financial upped their price target on shares of Dollar Tree from $79.00 to $83.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Evercore ISI dropped their target price on shares of Dollar Tree from $94.00 to $92.00 and set an “in-line” rating on the stock in a report on Tuesday, December 3rd. StockNews.com upgraded shares of Dollar Tree from a “sell” rating to a “hold” rating in a report on Thursday, December 5th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $75.00 target price on shares of Dollar Tree in a report on Thursday, March 6th. Sixteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $84.79.

Dollar Tree Trading Down 2.2 %

The company has a current ratio of 1.03, a quick ratio of 0.17 and a debt-to-equity ratio of 0.32. The firm has a market cap of $13.88 billion, a PE ratio of -13.53, a P/E/G ratio of 2.16 and a beta of 0.91. The company’s 50-day moving average is $71.99 and its 200 day moving average is $70.97.

Institutional Investors Weigh In On Dollar Tree

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its position in Dollar Tree by 34,600.0% in the 4th quarter. Bessemer Group Inc. now owns 347 shares of the company’s stock worth $26,000 after buying an additional 346 shares in the last quarter. Assetmark Inc. lifted its position 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 in the last quarter. Versant Capital Management Inc purchased a new stake in Dollar Tree in the 4th quarter worth approximately $30,000. Parkside Financial Bank & Trust lifted its position in Dollar Tree by 120.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 424 shares of the company’s stock worth $32,000 after buying an additional 232 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in Dollar Tree by 91.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 440 shares of the company’s stock worth $33,000 after buying an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

About Dollar Tree

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.