Ollie’s Bargain Outlet (NASDAQ:OLLI) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price objective lifted by Morgan Stanley from $108.00 to $118.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

OLLI has been the subject of a number of other research reports. Loop Capital boosted their price target on Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Bank of America boosted their price target on Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their price target on Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Truist Financial boosted their price objective on shares of 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. Finally, Citigroup raised shares of Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $64.00 to $133.00 in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $121.71.

Ollie’s Bargain Outlet Price Performance

Shares of NASDAQ:OLLI opened at $105.22 on Thursday. Ollie’s Bargain Outlet has a 1 year low of $68.05 and a 1 year high of $120.03. The business has a 50 day simple moving average of $105.15 and a two-hundred day simple moving average of $101.40. The firm has a market capitalization of $6.45 billion, a PE ratio of 31.41, a price-to-earnings-growth ratio of 2.21 and a beta of 0.83.

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

Hedge Funds Weigh In On Ollie’s Bargain Outlet

Large investors have recently made changes to their positions in the business. Oak Thistle LLC acquired a new position in shares of Ollie’s Bargain Outlet during the fourth quarter worth $1,345,000. JPMorgan Chase & Co. increased its position in shares of Ollie’s Bargain Outlet by 79.6% during the third quarter. JPMorgan Chase & Co. now owns 189,301 shares of the company’s stock worth $18,400,000 after purchasing an additional 83,882 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Ollie’s Bargain Outlet by 36.5% during the fourth quarter. Van ECK Associates Corp now owns 46,659 shares of the company’s stock worth $5,120,000 after purchasing an additional 12,476 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Ollie’s Bargain Outlet by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 753,658 shares of the company’s stock worth $73,256,000 after purchasing an additional 5,438 shares in the last quarter. Finally, Fred Alger Management LLC increased its position in shares of Ollie’s Bargain Outlet by 12.1% in the 3rd quarter. Fred Alger Management LLC now owns 772,145 shares of the company’s stock valued at $75,052,000 after acquiring an additional 83,063 shares during the period.

Ollie’s Bargain Outlet Company Profile

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.