Dollarama (TSE:DOL) Stock Price Up 10.4% Following Analyst Upgrade

Dollarama Inc. (TSE:DOL)’s stock price shot up 10.4% during trading on Wednesday after Desjardins raised their price target on the stock from C$165.00 to C$185.00. Desjardins currently has a buy rating on the stock. Dollarama traded as high as C$196.01 and last traded at C$194.00. 399,298 shares changed hands during trading, a decline of 44% from the average session volume of 712,292 shares. The stock had previously closed at C$175.76.

Other analysts also recently issued research reports about the stock. TD Securities lifted their target price on shares of Dollarama from C$160.00 to C$185.00 and gave the company a “buy” rating in a report on Friday, April 4th. Royal Bank of Canada lifted their target price on shares of Dollarama from C$149.00 to C$183.00 in a report on Friday, April 4th. UBS Group lifted their target price on shares of Dollarama from C$147.00 to C$165.00 in a report on Friday, April 4th. Stifel Nicolaus lifted their target price on shares of Dollarama from C$140.00 to C$162.00 in a report on Friday, April 4th. Finally, CIBC lifted their target price on shares of Dollarama from C$145.00 to C$174.00 in a report on Friday, April 4th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$167.00.

Insider Transactions at Dollarama

In other Dollarama news, Senior Officer Mark Di Pesa sold 1,350 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of C$173.51, for a total transaction of C$234,234.45. Also, Senior Officer Geoffrey Peter Robillard sold 28,000 shares of the stock in a transaction on Friday, April 11th. The shares were sold at an average price of C$160.00, for a total transaction of C$4,480,000.00. Company insiders own 2.23% of the company’s stock.

Dollarama Stock Performance

The stock’s 50-day moving average price is C$169.37 and its 200-day moving average price is C$152.55. The company has a current ratio of 1.43, a quick ratio of 0.08 and a debt-to-equity ratio of 369.36. The company has a market capitalization of C$53.33 billion, a P/E ratio of 49.15, a P/E/G ratio of 1.93 and a beta of 0.56.

Dollarama Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, May 9th were paid a dividend of $0.1058 per share. This is a boost from Dollarama’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, April 17th. This represents a $0.42 annualized dividend and a yield of 0.22%. Dollarama’s dividend payout ratio (DPR) is presently 9.42%.

About Dollarama

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.