Ollie’s Bargain Outlet (NASDAQ:OLLI) Price Target Cut to $124.00 by Analysts at Piper Sandler

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price objective dropped by stock analysts at Piper Sandler from $126.00 to $124.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price would suggest a potential upside of 15.61% from the stock’s current price.

A number of other equities research analysts have also recently commented on the stock. StockNews.com cut shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a report on Tuesday, February 4th. Wells Fargo & Company increased their price target on shares of Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Craig Hallum increased their price target on shares of Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Morgan Stanley increased their price objective on shares of Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Bank of America increased their price objective on shares of Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.71.

Ollie’s Bargain Outlet Trading Down 0.6 %

OLLI traded down $0.68 during midday trading on Thursday, reaching $107.26. The company’s stock had a trading volume of 468,449 shares, compared to its average volume of 1,097,298. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 32.04, 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 stock’s 50-day moving average is $105.13 and its 200-day moving average is $101.38.

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

Institutional Trading of Ollie’s Bargain Outlet

Institutional investors and hedge funds have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Ollie’s Bargain Outlet by 489.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company’s stock valued at $25,000 after purchasing an additional 191 shares during the period. Wilmington Savings Fund Society FSB raised its position in shares of Ollie’s Bargain Outlet by 337.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company’s stock valued at $26,000 after purchasing an additional 182 shares during the period. Bogart Wealth LLC bought a new stake in shares of Ollie’s Bargain Outlet during the 4th quarter valued at $26,000. Blue Trust Inc. raised its position in shares of Ollie’s Bargain Outlet by 55.2% during the 4th quarter. Blue Trust Inc. now owns 284 shares of the company’s stock valued at $31,000 after purchasing an additional 101 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of Ollie’s Bargain Outlet during the 4th quarter valued at $33,000.

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.