Sims Ltd
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Materials : Metals & Mining | Mid Cap Value
Based in Australia
Company profile

Sims Limited is engaged in metal recycling and provides circular solutions for technology. The principal activities of the Company include buying, processing, and selling of ferrous and non-ferrous recycled metals, and supporting businesses and data centers in managing end-of-life physical information technology (IT) assets through reuse, redeployment, and recycling. This includes IT asset disposition (ITAD) and e-waste recycling solutions. The Company's North America Metal (NAM), Australia and New Zealand Metal (ANZ) and UK Metal (UK) segments are engaged in ferrous and non-ferrous secondary recycling functions. Its Global Trading segment coordinates sales of ferrous bulk cargo shipments, non-ferrous sales into primarily China and Southeast Asia and brokerage sales on behalf of third and related parties. Its SA Recycling (SAR) segment is engaged in an investment in the SA Recycling joint venture. Its Sims Lifecycle Services (SLS) segment provides electronic recycling solutions.

This security is an American depositary receipt
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Ollie's Bargain Outlet gets double upgraded at BofA, as inflation sparks 'trade-down' to closeout merchandise

10:44 am ET May 20, 2022 (MarketWatch)

Shares of Ollie's Bargain Outlet Holdings Inc. (OLLI) slipped 0.3% in morning trading Friday, but were outperforming the retail sector by a wide margin, after BofA Securities analyst Jason Haas swung to bullish from bearish on the closeout retailer, citing signs suggesting availability of closeout merchandise has "meaningfully improved" over the past several months. Haas double upgraded Ollie's stock to buy from underperform, and nearly doubled his stock price target to $75 from $39, with the new target implying 74% upside from current levels. The improved availability of merchandise comes as retailers over-ordered due to supply-chain concerns and after a sharp drop off in consumer spending on durable goods. Haas also said that as government support programs fade and given increasing inflation, he believes consumers will "trade-down" to Ollie's. His research indicates Ollie's prices are 36% below those of Walmart Inc. (WMT) and Inc. (AMZN). "In tougher times, consumers will sacrifice selection and shopping experience for better prices, and [Ollie's] has specifically been marketing this advantage to its customers," Haas wrote in a note to clients. Ollie's stock has lost 15.9% year to date. Meanwhile, the SPDR S&P Retail ETF (XRT), which slumped 2.0% in morning trading, has tumbled 32.0% this year and the S&P 500 has dropped 18.1%.

-Tomi Kilgore


(END) Dow Jones Newswires

May 20, 2022 10:44 ET (14:44 GMT)

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