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On Monday, Truist Securities analysts reaffirmed a Buy rating for Ollie’s Bargain Outlet (NASDAQ: OLLI) stock, with a price target of $126.00. Currently trading at $111.45, the stock has shown strong momentum with a 35% return over the past year. According to InvestingPro data, analyst targets range from $105 to $137, with the company maintaining a "GOOD" financial health rating. The analysts noted that while sales began the first quarter on a softer note, there was a notable acceleration in late March and April, followed by a slight easing towards the end of the period.
According to Truist’s card data, sales for the first quarter are expected to align with the forecast of a 2.0% comparable sales increase and total sales of $561 million. For the second quarter, initial data suggests sales are trailing behind both the first quarter’s exit rate and projections by analysts and the Street.
The analysts highlighted that the company faced tougher comparisons in May, with a 10% increase in the previous year, compared to just 1% in April. These comparisons are expected to become even more challenging in June, with a 13% increase from the previous year, before easing significantly in July with a 10% decrease.
Truist Securities expressed confidence in Ollie’s Bargain Outlet’s outlook, suggesting that investors consider buying on any potential pullback in the stock. The firm anticipates a potential re-acceleration in sales growth in July as the comparison base becomes more favorable. Based on InvestingPro’s Fair Value analysis, the stock appears slightly overvalued at current levels. Subscribers can access 8 additional ProTips and a comprehensive analysis in the Pro Research Report, which provides deeper insights into OLLI’s valuation metrics and growth prospects.
In other recent news, Ollie’s Bargain Outlet Holdings Inc. has been the focus of several analyst updates following its financial performance and strategic positioning. RBC Capital Markets maintained its Outperform rating with a $133 price target, citing a projected comparable sales increase and the positive impact of Big Lots (NYSE:BIG) store closures. RBC anticipates Ollie’s adjusted earnings per share (EPS) to reach $0.74 for the upcoming quarter, surpassing the consensus estimate. KeyBanc Capital Markets raised its price target for Ollie’s to $135, maintaining an Overweight rating, and highlighted potential upside in comparable store sales based on recent market activities.
UBS also adjusted its price target to $123, recognizing Ollie’s strong fourth-quarter performance, which exceeded market expectations with a 2.8% same-store sales growth. Piper Sandler, while reducing its price target slightly to $124, maintained an Overweight rating, emphasizing the benefits Ollie’s could gain from Big Lots’ liquidation. The analysts at Piper Sandler noted Ollie’s strong 2025 outlook, driven by its closeout business model and potential market share gains.
These developments reflect a generally optimistic outlook from analysts, with Ollie’s strategic positioning and financial performance being key factors in their assessments. The company’s ability to navigate economic challenges and capitalize on market dynamics has been a focal point for these firms. Investors are closely monitoring whether Ollie’s can meet or exceed these expectations in the coming quarters.
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