Sell Dollar Tree Because It's No Longer A Bargain

twocents@thestreet.com (Richard Saintvilus), The Street
Fri, 05/27/2016 - 9:20am

Thanks to strong earnings and guidance Dollar Tree stock is now at close to $89. Its technical charts suggests now is a good time to sell. Shares of the discount retailer jumped thanks to the company's solid first-quarter earnings Thursday. While the mall retailers are struggling, consumers are being more frugal and that benefits discounters such as Dollar Tree. However, despite the company's strong fundamentals the stock is no longer attractive. The stock is now priced at a price to earnings multiple of 70, which is more than three times the P/E of 21 in the S&P 500 index.

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