Piper Jaffray Remains Bullish on Ollie's Bargain Outlet (OLLI) Ahead of 2Q Report

August 29, 2016 7:07 AM EDT
Get Alerts OLLI Hot Sheet
Price: $31.40 --0%

Rating Summary:
    8 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 24 | New: 12
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Piper Jaffray reiterated an Overweight rating and $28.00 price target on Ollie's Bargain Outlet (NASDAQ: OLLI) ahead of the company's 2Q earnings report. Piper is expecting the company to report EPS of $0.18, in-line with the consensus estimates. Piper is also anticipating total operating expenses of 29.1% due to the lower comp.

Analyst Peter Keith commented, "We are maintaining our OW rating but have a neutral view on OLLI shares heading into Wednesday's Q2 earnings print. While our estimate and consensus for Q2 comp are at +1% (in-line with guidance), we believe shares would trade off with a comp of <2%. Certainly, OLLI is not impacted by some of the issues that caused sales results to slow in other parts of discount retail for Q2, but we have yet to see a company bounce-back meaningfully from a slow May this earnings season. We expect the washer/dryer combo closeout drove a comp benefit of 25 bps in Q2. Finally, we believe a sell-off in shares with a comp of <2% for Q2 would be short-lived as investor interest remains strong for one of the better long-term growth stories in our coverage universe."

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 $26.42 yesterday.

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