Dollar Tree (DLTR) desperately needs help as the discount retailer has suffered greatly over the past year. Investors have been unimpressed by the company with earnings per share and revenue that often miss estimates and hammer DLTR stock. That’s where Stewart Glendinning comes in.
Glendinning will take over as CFO of Dollar Tree at the end of March. He’ll succeed Jeff Davis, who already announced plans to step down but will remain around for a short time to ensure a smooth transition. Glendinning is ascending to the CFO role after joining Dollar Tree earlier this year to head its transformation efforts. Before that, he served as the CEO of the apparel company Express.
Glendinning joined Dollar Tree at the urging of CEO Michael Creedon. The company leader is pushing for a rapid revitalization of the business, which has faced strong competition and falling demand. That includes struggles for subsidiary Family Dollar that spurred Glendinning to explore strategic alternatives for the brand after he joined Dollar Tree.
DLTR Stock Movement Today
News of Glendinning taking over as the next CFO of Dollar Tree has investors excited today. That sent DLTR stock 1.08% higher in morning trading. This is a much-needed boost for DLTR shares, which are down 10.06% year-to-date and 54.81% over the last 52 weeks. The real question shareholders need to ask is will Dollar Tree be able to maintain this positive momentum with Glendinning’s help?
Is DLTR Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Dollar Tree is Moderate Buy based on three Buy and six Hold ratings over the last three months. With that comes an average price target of $83.33, a high of $100, and a low of $75. This represents a potential 23.86% upside for DLTR stock.
