Ollie's Bargain Outlet (OLLI): Long Term Growth Story Continues To Play Out - Piper Jaffray

September 1, 2016 7:40 AM EDT
Get Alerts OLLI Hot Sheet
Price: $31.65 +0.80%

Rating Summary:
    8 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Piper Jaffray analyst, Peter Keith, reiterated his Overweight rating on shares of Ollie's Bargain Outlet (NASDAQ: OLLI) and raised his price target to $30 from $28 following Q2 results which saw upside to estimates for comp, gross margin and EPS.

The mid-point of full year EPS guidance was raised by $0.03 (the amount of the Q2 EPS beat) and while no Q3 trends were discussed, OLLI saw a stronger June & July following the slower than expected May. One of the most impressive items was that transaction growth drove the +3.5% comp. Management also mentioned that its increased profile and buying power (likely helped by last year's IPO) continue to drive more attractive closeout opportunities. This dynamic should remain in place through at least year end, and in turn drive comp and gross margin benefits.

For an analyst ratings summary and ratings history on Ollie's Bargain Outlet click here. For more ratings news on Ollie's Bargain Outlet click here.

Shares of Ollie's Bargain Outlet closed at $25.42 yesterday.

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