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  4. Negative Catalyst Watch Issued On Ollie's Bargain Outlet at Citi Ahead of Q2 Earnings
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Negative Catalyst Watch Issued On Ollie's Bargain Outlet at Citi Ahead of Q2 Earnings

By Sam Boughedda A Citi analyst issued a Negative Catalyst Watch for Ollie's Bargain Outlet's (NASDAQ:OLLI) second-quarter earnings. The analyst, who has a $55 price target and a...
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Negative Catalyst Watch Issued On Ollie's Bargain Outlet at Citi Ahead of Q2 Earnings © Reuters. Negative Catalyst Watch Issued On Ollie's Bargain Outlet (OLLI) at Citi Ahead of Q2 Earnings

By Sam Boughedda

A Citi analyst issued a Negative Catalyst Watch for Ollie's Bargain Outlet's (NASDAQ:OLLI) second-quarter earnings.

The analyst, who has a $55 price target and a Neutral rating on the stock, said they are cautious on OLLI going into its second-quarter earnings this week.

They are "issuing a negative catalyst watch for several reasons: (1) Expectations have become more elevated since 1Q earnings, (2) Off-pricers are still not benefitting from a trade down customer, (3) Despite a favorable buying environment, execution still a risk (keep in mind they have mgmt holes in supply chain and CFO), (4) We believe they are likely to slow store growth in F23, which may be discussed on the 2Q call, and (5) The stock still trades at a relatively high multiple on F23 ests (P/E of 21.0x and EV/EBITDA of 12.9x)."

As a result, Citi sees the risk/reward for the stock skewing negative ahead of the earnings release on September 1.

"Despite the favorable buying environment, the combination of having historical issues with the supply chain and the recent management turnover, we believe execution (getting the right product to the right stores on time) remains a significant risk," the analyst explained.

OLLI's shares are down 1% on Tuesday at the time of writing.

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01-05-2024 10:45:17 (UTC+7)

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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