Target prices rise
There have been quite a few target price changes for Ollie’s Bargain Outlet Holdings (OLLI) since it reported its strong results for the fiscal second quarter (which ended on August 4) on September 5.
Jefferies raised OLLI’s price target to $105.00 from $87.00. RBC raised the stock’s price target to $95.00 from $79.00. Credit Suisse raised its price target to $96.00 from $92.00. JPMorgan Chase raised its price target to $93.00 from $85.00.
Ollie’s Bargain Outlet’s mean target price is $92.80, which indicates a 5.5% upside to its price as of September 6.
A total of ~60.0% of the 15 analysts covering the stock have given it “buy” ratings, while the remaining analysts have given it “hold” ratings.
OLLI’s second-quarter sales of $288.1 million topped the consensus estimate by 1.2% and rose 13.1% YoY (year-over-year). New store openings and low-cost deals drove the company’s top line growth. Driven by higher sales and reduced income tax expenses, the company’s adjusted EPS came in at $0.40, handily beating the consensus estimate of $0.36. On a reported basis, its EPS were $0.45, representing YoY growth of 50%. Given these strong results, Ollie’s increased its fiscal 2018 guidance for both its top and bottom lines.
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