Dollarama (TSE:DOL) Price Target Raised to C$50.00 at CIBC

Dollarama (TSE:DOL) had its price objective boosted by stock analysts at CIBC from C$48.00 to C$50.00 in a research report issued on Friday, BayStreet.CA reports. CIBC’s target price would suggest a potential upside of 5.15% from the company’s previous close.

Several other equities research analysts have also recently weighed in on DOL. BMO Capital Markets upped their price target on Dollarama from C$50.00 to C$52.00 and gave the company a “market perform” rating in a research report on Wednesday, July 3rd. Industrial Alliance Securities upped their price target on Dollarama from C$43.00 to C$45.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. TD Securities upped their price target on Dollarama from C$48.00 to C$49.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. National Bank Financial upped their price target on Dollarama from C$49.00 to C$52.00 and gave the company an “outperform” rating in a research report on Wednesday, July 3rd. Finally, Raymond James upped their price target on Dollarama from C$45.00 to C$48.00 and gave the company an “outperform” rating in a research report on Friday, June 14th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of C$48.45.

Shares of DOL traded down C$0.59 during midday trading on Friday, hitting C$47.55. 436,319 shares of the company traded hands, compared to its average volume of 799,846. The stock has a 50-day moving average of C$50.01 and a 200-day moving average of C$43.63. Dollarama has a one year low of C$30.70 and a one year high of C$52.12. The firm has a market cap of $15.20 billion and a P/E ratio of 28.07.

Dollarama (TSE:DOL) last announced its quarterly earnings results on Thursday, June 13th. The company reported C$0.33 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of C$0.33. The company had revenue of C$828.04 million for the quarter, compared to the consensus estimate of C$803.80 million. On average, equities research analysts predict that Dollarama will post 2.16 earnings per share for the current fiscal year.

In other news, Director Gregory David sold 12,000 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of C$48.35, for a total transaction of C$580,148.40. Also, Senior Officer Johanne Choinière sold 70,000 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of C$49.68, for a total value of C$3,477,691.00. Following the transaction, the insider now directly owns 66,000 shares of the company’s stock, valued at approximately C$3,278,965.80. Insiders have sold 118,453 shares of company stock valued at $5,883,301 in the last three months.

About Dollarama

Dollarama Inc operates a chain of dollar stores in Canada. Its stores offer general merchandise, consumables, and seasonal items. The company also offers products online. As of March 28, 2019, it operated 1,225 stores. The company was formerly known as Dollarama Capital Corporation and changed its name to Dollarama Inc in September 2009.

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Analyst Recommendations for Dollarama (TSE:DOL)

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