Scotiabank Believes Dollarama (Other OTC: DLMAF) Won’t Stop Here

Scotiabank analyst Scotia Capital maintained a Buy rating on Dollarama (DLMAFResearch Report) yesterday and set a price target of C$62.00. The company’s shares closed last Tuesday at $44.71, close to its 52-week high of $46.90.

Dollarama has an analyst consensus of Moderate Buy, with a price target consensus of $52.35, representing a 17.1% upside. In a report issued on May 26, TD Securities also maintained a Buy rating on the stock with a C$65.00 price target.

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Based on Dollarama’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $1.1 billion and net profit of $174 million. In comparison, last year the company earned revenue of $1.07 billion and had a net profit of $179 million.

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DLMAF in relation to earlier this year.

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Dollarama, Inc. engages in the operation of dollar store chain. It offers a broad range of consumer products and general merchandise for everyday use, in addition to seasonal products. The company was founded by Lawrence Rossy in 1992 and is headquartered in Montreal, Canada.