Why Ollie's Bargain Outlet (OLLI) is a Top Momentum Stock for the Long-Term
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
Ollie's Bargain Outlet (OLLI)
Headquartered in Harrisburg, PA, Ollie's Bargain Outlet Holdings is a value retailer of brand name merchandise at drastically reduced prices. The company offers products principally under Ollie’s, Ollie’s Bargain Outlet, Good Stuff Cheap, Ollie’s Army, Real Brands Real Cheap!, Real Brands! Real Bargains!, Sarasota Breeze, Steelton Tools, American Way and Middleton Home. As of Jul 29, 2023, the company operated 482 outlets in 29 states. The company offers products under the categories, Consumables (21.6% of FY22 Sales), Home (38.3%), Seasonal (17.8%) and Other (22.3%). Product offerings include; Housewares: cooking utensils, dishes, appliances, plastic containers, cutlery, storage and garbage bags, detergents and cleaning supplies, cookware and glassware, fans and space heaters, candles, frames and giftware.
OLLI sits at a Zacks Rank #2 (Buy), holds a Momentum Style Score of B, and has a VGM Score of B. The stock is up 4.2% and up 8% over the past one-week and four-week period, respectively, and Ollie's Bargain Outlet has gained 49.3% in the last one-year period as well. Additionally, an average of 903,267 shares were traded over the last 20 trading sessions.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, three analysts revised their earnings estimate higher in the last 60 days for OLLI, while the Zacks Consensus Estimate has increased $0.04 to $2.72 per share. OLLI also boasts an average earnings surprise of 1.3%.
With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding OLLI to their portfolios.
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Ollie's Bargain Outlet Holdings, Inc. (OLLI) : Free Stock Analysis Report
