CIBC Trims Dollarama (DOL) Target Price to C$37.00
Dollarama (TSE:DOL) had its target price reduced by equities research analysts at CIBC from C$40.00 to C$37.00 in a report issued on Friday. CIBC’s target price suggests a potential upside of 13.50% from the company’s previous close.
Several other equities analysts have also recently commented on DOL. Industrial Alliance Securities raised shares of Dollarama from a “hold” rating to a “buy” rating and set a C$54.50 target price on the stock in a research note on Thursday, September 6th. Barclays raised their target price on shares of Dollarama from C$52.00 to C$53.00 in a research note on Wednesday, September 12th. Desjardins cut shares of Dollarama from a “buy” rating to a “hold” rating and lowered their price objective for the stock from C$58.00 to C$45.00 in a research note on Friday, September 14th. National Bank Financial cut shares of Dollarama from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from C$56.00 to C$48.00 in a research note on Friday, September 14th. Finally, Macquarie lowered their price objective on shares of Dollarama from C$56.33 to C$49.00 in a research note on Friday, September 14th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of C$54.21.
Dollarama stock traded down C$0.73 during trading hours on Friday, hitting C$32.60. 932,353 shares of the company traded hands, compared to its average volume of 1,092,474. Dollarama has a 1-year low of C$31.35 and a 1-year high of C$56.67.
In other news, insider Geoffrey Peter Robillard sold 20,000 shares of Dollarama stock in a transaction that occurred on Friday, October 26th. The shares were sold at an average price of C$39.19, for a total value of C$783,800.00. Also, insider Michael Ross acquired 1,400 shares of the stock in a transaction dated Thursday, October 11th. The stock was acquired at an average cost of C$36.98 per share, for a total transaction of C$51,772.00.
Dollarama Inc operates a chain of dollar stores in Canada. The company's stores offer consumer products, general merchandise, and seasonal items, including private label and branded products. As of July 29, 2018, it operated 1,178 stores. The company was formerly known as Dollarama Capital Corporation and changed its name to Dollarama Inc in September 2009.
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