Long Position on OLLI @ $79.50 on 11/6/2023 (Momentum)

Ollie's Bargain Outlet Holdings, Inc. (OLLI) operates as a retailer of brand name merchandise in the United States. Stockwinners

The company offers housewares, bed and bath, food, floor coverings, health and beauty aids, books and stationery, toys, and electronics; and other products, including hardware, candy, clothing, sporting goods, pet and lawn, and garden products.

It provides its products primarily under the 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 names.

On August 31, OLLI reported earnings of $0.67 per share on revenue of $514.51 million for the fiscal second quarter ended July 2023. The consensus earnings estimate was $0.61 per share on revenue of $498.53 million.

Guided Higher: The company said it now expects fiscal year earnings of $2.65 to $2.74 per share on revenue of $2.076 billion to $2.091 billion. The company's previous guidance was earnings of $2.56 to $2.65 per share on revenue of $2.052 billion to $2.067 billion.

Higher share prices are expected.

 

Entry Point: $79.50

Stop Loss: $75.50

Trading Range: $44.72 - $81.24

Target Price: $87.50

 

Position closed on 12/1/2023 at price of $75.50 with a -5.03% loss in 25 days.

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