Ollie's Bargain Outlet (OLLI) PT, Est. Lifted at Jefferies Following 'Beat and Raise'

September 1, 2016 7:13 AM EDT
Get Alerts OLLI Hot Sheet
Price: $30.85 -1.28%

Rating Summary:
    8 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 36 | New: 11
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Jefferies analyst Daniel Binder reiterated a Buy rating and bumped his price target on Ollie's Bargain Outlet (NASDAQ: OLLI) to $31.00 (from $30.00) following Q2 'beat and raise'. The analyst notes solid execution.

Binder commented, "Another quarter from OLLI showed comp sales and EPS ahead of plan and Street expectations. Guidance for FY17 incorporated Q2 upside without changing assumptions for 2H. Momentum reflects a favorable buying environment, better access to deals and more direct relationships. Meanwhile, Ollie’s Army is growing faster than expected and with deepening customer relationships. We expect shares to move higher as estimates get revised upward."

FY 2016 EPS was lifted from $0.87 to $0.90 and FY 2017 EPS from $1.00 to $1.02.

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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