Wells Fargo analyst Edward Kelly maintained a Buy rating on Ollie’s Bargain Outlet Holding (OLLI) yesterday. The company’s shares closed last Thursday at $106.99, close to its 52-week high of $112.58.
According to TipRanks.com, Kelly is a 4-star analyst with an average return of 8.8% and a 68.6% success rate. Kelly covers the Consumer Goods sector, focusing on stocks such as Performance Food Group, United Natural Foods, and Albertsons Companies.
Currently, the analyst consensus on Ollie’s Bargain Outlet Holding is a Moderate Buy with an average price target of $113.25, a 2.2% upside from current levels. In a report issued on August 12, J.P. Morgan also maintained a Buy rating on the stock with a $127.00 price target.
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Based on Ollie’s Bargain Outlet Holding’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $349 million and net profit of $33.46 million. In comparison, last year the company earned revenue of $325 million and had a net profit of $38.72 million.
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Ollie’s Bargain Outlet Holdings, Inc. is a holding company, which engages in the retail of closeouts, excess inventory, and salvage merchandise. It offers overstocks, package changes, manufacturer refurbished goods, and irregulars. The company’s products include housewares, food, books and stationery, bed and bath, floor coverings, electronics and toys. Ollie’s Bargain Outlet Holdings was founded by Mark Butler, Mort Bernstein, Oliver Rosenberg and Harry Coverman on July 29, 1982 and is headquartered in Harrisburg, PA.
