Dollarama was Downgraded to a Hold Rating at Desjardins

By Ryan Adsit

In a new note to investors today, an analyst has provided a rating update for the Services sector company, Dollarama (TSX: DOL). Desjardins’ analyst Keith Howlett downgraded DOL to Hold , with a C$134 price target.

Howlett has an average return of 27.6% when recommending Dollarama.

According to TipRanks.com, Howlett is ranked #321 out of 4569 analysts.

Dollarama has an analyst consensus of Moderate Buy, with a price target consensus of C$130.11.

Based on Dollarama’s latest earnings report for the quarter ending January 31, the company posted quarterly revenue of C$855 million and quarterly net profit of C$146 million. In comparison, last year the company earned revenue of C$641 million and had a net profit of C$83.15 million.

Dollarama, Inc. is a dollar store operator. It offers a broad range of consumer products and general merchandise for everyday use, in addition to seasonal products. Additionally, all of its stores are corporate-owned providing a consistent shopping experience. The company was founded by Lawrence Rossy in 1992 and is headquartered in Montreal, Canada.

The company’s shares closed last Thursday at $126.87, close to its 52-week high of $129.94.