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KeyBanc Thinks Ollie’s Bargain Outlet Holding’s Stock is Going to Recover

KeyBanc analyst Bradley Thomas maintained a Buy rating on Ollie’s Bargain Outlet Holding (OLLIResearch Report) today and set a price target of $75.00. The company’s shares closed last Wednesday at $40.67, close to its 52-week low of $37.67.

According to TipRanks.com, Thomas is a 4-star analyst with an average return of 10.7% and a 57.4% success rate. Thomas covers the Consumer Goods sector, focusing on stocks such as Bed Bath & Beyond, Tempur Sealy, and Five Below.

Ollie’s Bargain Outlet Holding has an analyst consensus of Moderate Buy, with a price target consensus of $56.80, which is a 33.5% upside from current levels. In a report released yesterday, Berenberg Bank also maintained a Buy rating on the stock with a $75.00 price target.

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Based on Ollie’s Bargain Outlet Holding’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $383 million and net profit of $23.19 million. In comparison, last year the company earned revenue of $414 million and had a net profit of $45.2 million.

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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. Ollie’s Bargain Outlet Holdings was founded by Mark Butler, Mort Bernstein, Oliver Rosenberg and Harry Coverman on July 29, 1982 and is headquartered in Harrisburg, PA.

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