These Analysts Revise Their Forecasts On Ollie's Bargain Outlet Following Q4 Results

Ollie’s Bargain Outlet Holdings Inc OLLI reported better-than-expected earnings for its fourth quarter on Wednesday.

The company reported fourth-quarter FY23 sales growth of 18% year-on-year to $648.9 million, missing the analyst consensus estimate of $649.378 million. Comparable store sales increased 3.9% compared to a 3% increase last year.

Adjusted EPS of $1.23 beat the analyst consensus of $1.16, according to data from Benzinga Pro.

Ollie's Bargain Outlet said it sees FY24 adjusted EPS of $3.10 – $3.20, against the consensus of $3.21. The company expects FY24 sales of $2.248 billion – $2.273 billion versus the Street view of $2.294 billion. The company sees comparable store sales to increase 1% – 2%.

Ollie's Bargain Outlet shares gained 4.9% to trade at $80.03 on Thursday.

These analysts made changes to their price targets on Ollie's Bargain Outlet following earnings announcement.

• JP Morgan cut the price target on Ollie's Bargain Outlet from $88 to $85. JP Morgan analyst Matthew Boss maintained a Neutral rating.
• Goldman Sachs boosted the price target on Ollie's Bargain Outlet from $91 to $104. Goldman Sachs analyst Kate McShane maintained a Buy rating.
• Craig-Hallum increased the price target on Ollie's Bargain Outlet from $98 to $100. Craig-Hallum analyst Jeremy Hamblin maintained a Buy rating.
• Truist Securities boosted the price target on Ollie's Bargain Outlet from $78 to $80. Truist Securities analyst Scot Ciccarelli maintained a Hold rating.

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