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What’s the Word on Wall Street for OLLI following Its Fiscal Q2?

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Aug. 18 2020, Updated 6:25 a.m. ET

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.

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Second-quarter snapshot

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.

Peers’ ratings

Of the 29 analysts covering Dollar General (DG) stock, 59.0% have recommended “buys,” and 38.0% have recommended “holds.” The 12-month average target price for DG is $115.24, which reflects a 3.7% upside based on its September 6 price.

Of the 27 analysts covering Dollar Tree (DLTR) stock, 63.0% have recommended “buys,” and 37.0% have recommended “holds.” The 12-month average target price for DLTR stock is $97.63, which reflects an 18.9% upside.

Of the 18 analysts covering Five Below (FIVE) stock, 50.0% have recommended “buys,” and 50.0% have recommended “holds.” The 12-month average target price for FIVE is $124.31, which reflects a 7.6% upside.

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