OLLI - Upgrading Ollie's Bargain Outlet Holdings Crushing It In This Environment
2024-06-05 11:25:39 ET
Summary
- Ollie's Bargain Outlet Holdings, Inc. reported strong Q1 earnings, with net income up 49.6% and EPS beating consensus estimates.
- The company raised its guidance for 2024, with plans to open 48 new stores and increase comparable sales growth.
- Ollie's balance sheet is strong, with no outstanding borrowings and a significant amount of cash on hand.
- A dividend in the future?
- Upgrading this trading stock to a buy.
We have had a hold rating on Ollie's Bargain Outlet Holdings, Inc. ( OLLI ) for several months given the growth and valuation mix combination, while the stock had been moving sideways. But today we are upgrading the stock to a buy, as it is looking set to break out. Should there be a reversal, weakness should be bought in our opinion....
Upgrading Ollie's Bargain Outlet Holdings, Crushing It In This Environment