Ollie’s Bargain Outlet (NASDAQ:OLLI) Price Target Raised to $118.00

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price target upped by Morgan Stanley from $108.00 to $118.00 in a research report report published on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research firms have also recently issued reports on OLLI. Truist Financial raised their target price on Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Jefferies Financial Group downgraded Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and reduced their target price for the stock from $125.00 to $111.00 in a report on Tuesday, February 4th. Royal Bank of Canada upped their target price on Ollie’s Bargain Outlet from $130.00 to $133.00 and gave the stock an “outperform” rating in a report on Friday, March 7th. Wells Fargo & Company upped their target price on Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. Finally, StockNews.com downgraded Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $123.08.

Ollie’s Bargain Outlet Price Performance

NASDAQ OLLI opened at $106.88 on Thursday. The stock has a market capitalization of $6.55 billion, a PE ratio of 31.90, a PEG ratio of 2.21 and a beta of 0.83. Ollie’s Bargain Outlet has a 1 year low of $68.05 and a 1 year high of $120.03. The business’s 50-day moving average is $105.16 and its 200 day moving average is $101.61.

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

Institutional Trading of Ollie’s Bargain Outlet

Hedge funds have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Ollie’s Bargain Outlet by 489.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company’s stock valued at $25,000 after acquiring an additional 191 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position in Ollie’s Bargain Outlet by 337.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company’s stock valued at $26,000 after acquiring an additional 182 shares in the last quarter. Bogart Wealth LLC bought a new position in Ollie’s Bargain Outlet in the 4th quarter valued at approximately $26,000. Blue Trust Inc. lifted its position in Ollie’s Bargain Outlet by 55.2% in the 4th quarter. Blue Trust Inc. now owns 284 shares of the company’s stock valued at $31,000 after acquiring an additional 101 shares in the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in Ollie’s Bargain Outlet in the 4th quarter valued at approximately $33,000.

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.