|Bid||98.32 x 900|
|Ask||98.30 x 800|
|Day's Range||95.86 - 100.71|
|52 Week Range||28.83 - 112.58|
|Beta (5Y Monthly)||1.14|
|PE Ratio (TTM)||28.25|
|Earnings Date||Mar 19, 2021 - Mar 29, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||93.40|
Artisan Global Discovery Fund, a global investment management firm, published its third-quarter 2020 Investor Letter – a copy of which can be downloaded here. A positive return of 11.79% was recorded by the fund for the 3rd Quarter of 2020, ahead of its MSCI All Country World benchmark that returned 8.13%. You can view the fund’s […]
Discount retail chain Ollie's Bargain Outlet Holdings Inc. (NASDAQ: OLLI) has a sourcing problem, as the supply of the closeout merchandise Ollie's typically acquires is lower than expected, according to BofA.The Ollie's Analyst: Jason Haas downgraded Ollie's from Buy to Underperform with a price target lowered from $105 to $82.The Ollie's Thesis: Ollie's typically acquires merchandise in bulk when other retailers are forced to close their doors and liquidate their inventory.Yet expectations for a "meaningful" second wave of retail closures in the first quarter of 2021 are unlikely to play out, Haas said in a Thursday downgrade note. On a square foot basis, store closures in Ollie's categories -- excluding apparel -- were higher by 91% year-over-year in the first three quarters of 2020, but were down 91% year-over-year in the fourth quarter, the analyst said. Related Link: Recap: Ollie's Bargain Outlet Q3 Earnings"We have historically seen a roughly nine-month lag between store closures and the impact on same-store sales, implying potential sourcing difficulties through 2021," he said. In addition, a combination of higher freight costs, a weaker U.S. dollar and higher raw material costs imply that Ollie's also faces headwinds in importing items from overseas suppliers, Haas said.This is more of a "secondary issue," as only 20% of merchandise is imported, of which around 80% comes from China, the analyst said. Tax refunds in 2021 could be down 11% year-over-year, as unemployment benefits are a taxable source of income, but not withheld by most people who receive them, he said.Once tax season comes, this could become a "negative surprise" for many Ollie customers, Haas said. OLLI Price Action: Shares of Ollie's Bargain Outlet Holdings were trading lower by 1.71% at $94.39 at last check.Photo by Dwight Burdette via Wikimedia.Latest Ratings for OLLI DateFirmActionFromTo Jan 2021B of A SecuritiesDowngradesBuyUnderperform Dec 2020Morgan StanleyMaintainsEqual-Weight Nov 2020B of A SecuritiesMaintainsBuy View More Analyst Ratings for OLLI View the Latest Analyst RatingsSee more from Benzinga * Click here for options trades from Benzinga * Taco Bell Is 'Starting Fresh' With Beyond Meat Vegan Options In 2021 * Acacia Communications Shares Surge After Deal Reached With Cisco(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
With new leadership and beneficial positioning during the pandemic, the company saw record profits in 2020.