Piper Sandler Issues Pessimistic Forecast for Ollie’s Bargain Outlet (NASDAQ:OLLI) Stock Price

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its target price reduced by equities research analysts at Piper Sandler from $126.00 to $124.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target suggests a potential upside of 16.02% from the stock’s current price.

Several other equities analysts also recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. boosted their target price on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Citigroup raised Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and raised their price target for the stock from $64.00 to $133.00 in a report on Wednesday, December 18th. Truist Financial increased their price objective on Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Craig Hallum lifted their target price on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $123.08.

Ollie’s Bargain Outlet Stock Performance

NASDAQ OLLI opened at $106.88 on Thursday. The company has a market capitalization of $6.55 billion, a PE ratio of 31.90, a price-to-earnings-growth ratio of 2.21 and a beta of 0.83. Ollie’s Bargain Outlet has a 52-week low of $68.05 and a 52-week high of $120.03. The company has a 50-day simple moving average of $105.16 and a 200 day simple moving average of $101.52.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $1.19 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.01). Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The firm had revenue of $667.10 million during the quarter, compared to analysts’ expectations of $674.61 million. During the same quarter in the previous year, the company posted $1.23 EPS. Ollie’s Bargain Outlet’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, analysts forecast that Ollie’s Bargain Outlet will post 3.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Hedge funds have recently added to or reduced their stakes in the company. 111 Capital purchased a new position in shares of Ollie’s Bargain Outlet during the 4th quarter valued at about $280,000. Wealth Enhancement Advisory Services LLC grew its position in Ollie’s Bargain Outlet by 65.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,574 shares of the company’s stock valued at $721,000 after acquiring an additional 2,608 shares during the last quarter. Jefferies Financial Group Inc. raised its position in Ollie’s Bargain Outlet by 20.3% in the 4th quarter. Jefferies Financial Group Inc. now owns 3,628 shares of the company’s stock worth $398,000 after purchasing an additional 611 shares during the period. ABLE Financial Group LLC lifted its stake in Ollie’s Bargain Outlet by 34.3% in the fourth quarter. ABLE Financial Group LLC now owns 8,705 shares of the company’s stock worth $955,000 after purchasing an additional 2,224 shares during the last quarter. Finally, Pullen Investment Management LLC boosted its position in Ollie’s Bargain Outlet by 46.0% during the fourth quarter. Pullen Investment Management LLC now owns 6,217 shares of the company’s stock valued at $682,000 after buying an additional 1,960 shares during the period.

About Ollie’s Bargain Outlet

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.