Piper Sandler Forecasts Strong Price Appreciation for Dollar General (NYSE:DG) Stock

Dollar General (NYSE:DG) had its price target upped by research analysts at Piper Sandler from $79.00 to $81.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s target price indicates a potential upside of 2.34% from the company’s current price.

Several other research firms have also recently issued reports on DG. Gordon Haskett cut shares of Dollar General from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 28th. HSBC decreased their target price on shares of Dollar General from $100.00 to $88.00 and set a “hold” rating on the stock in a research report on Friday, November 15th. Morgan Stanley cut their price target on shares of Dollar General from $100.00 to $80.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Telsey Advisory Group restated a “market perform” rating and issued a $85.00 price target on shares of Dollar General in a report on Thursday. Finally, Bank of America cut their price target on shares of Dollar General from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $92.26.

Dollar General Price Performance

Dollar General stock opened at $79.15 on Friday. Dollar General has a 12-month low of $66.43 and a 12-month high of $164.12. The stock has a market capitalization of $17.41 billion, a P/E ratio of 13.04, a P/E/G ratio of 2.18 and a beta of 0.44. The firm’s 50-day moving average is $73.69 and its two-hundred day moving average is $78.06. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.15 and a quick ratio of 0.15.

Dollar General (NYSE:DG) last released its earnings results on Thursday, March 13th. The company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.17. Dollar General had a net margin of 3.33% and a return on equity of 18.85%. The business had revenue of $10.30 billion for the quarter, compared to analysts’ expectations of $10.26 billion. During the same period last year, the company earned $1.83 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts predict that Dollar General will post 5.75 earnings per share for the current year.

Insiders Place Their Bets

In other Dollar General news, Director Michael M. Calbert sold 6,000 shares of Dollar General stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $75.27, for a total value of $451,620.00. Following the completion of the transaction, the director now owns 120,322 shares of the company’s stock, valued at $9,056,636.94. The trade was a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.49% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dollar General

A number of hedge funds have recently added to or reduced their stakes in DG. Sigma Planning Corp boosted its holdings in shares of Dollar General by 72.8% during the third quarter. Sigma Planning Corp now owns 4,299 shares of the company’s stock valued at $364,000 after acquiring an additional 1,811 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Dollar General during the third quarter valued at $212,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Dollar General by 1.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 480,824 shares of the company’s stock valued at $40,663,000 after acquiring an additional 8,388 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Dollar General by 62.9% during the third quarter. Victory Capital Management Inc. now owns 166,574 shares of the company’s stock valued at $14,087,000 after acquiring an additional 64,336 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Dollar General by 7.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 62,696 shares of the company’s stock valued at $5,302,000 after acquiring an additional 4,589 shares during the period. Institutional investors and hedge funds own 91.77% of the company’s stock.

Dollar General Company Profile

Dollar General Corporation, a discount retailer, provides various merchandise products in the southern, southwestern, midwestern, and eastern United States. It offers consumable products, including paper and cleaning products, such as paper towels, bath tissues, paper dinnerware, trash and storage bags, disinfectants, and laundry products; packaged food comprising cereals, pasta, canned soups, fruits and vegetables, condiments, spices, sugar, and flour; and perishables that include milk, eggs, bread, refrigerated and frozen food, beer, and wine.