#2 - Ollie’s Bargain Outlet Holdings (NASDAQ:OLLI)
With more than 40 million Americans having filed for unemployment claims, budgets are going to be tight for quite some time. That makes discount stores a popular attraction. Ollie’s Bargain Outlet Holdings (NASDAQ:OLLI) is a chain of discount stores that spans 25 states. The company features a business model that inspires a passionate fan base.
Ollie’s markets itself as an extreme value retailer that offers brand name merchandise at drastically reduced prices. It’s the store for “treasure hunters”. Its closest comparison in the retail sphere is TJX Companies (NYSE:TJX), the parent of T.J. Maxx. Ollie’s offers shoppers a no-frills in-store experience. But they make up for that with exceptional deals.
It’s no surprise that Ollie’s benefited from the desire of many Americans to stretch their stimulus checks as far as possible. In the company’s most recent quarter, it did post a downturn in comparable-store sales, but that number turned positive coinciding with the stimulus checks. Shares of OLLI stock are also growing. The stock has climbed over 58% in 2020.
About Ollie's Bargain Outlet
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.
More about Ollie's Bargain Outlet- Current Price
- $111.95
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 9 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $123.08 (9.9% Upside)
