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

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

A number of other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. raised 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. Wells Fargo & Company raised their price target on 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. StockNews.com cut Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a report on Tuesday, February 4th. Royal Bank of Canada lifted 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. Finally, Truist Financial lifted their target price 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Ollie’s Bargain Outlet currently has a consensus rating of “Moderate Buy” and an average price target of $121.71.

Ollie’s Bargain Outlet Stock Down 2.5 %

NASDAQ:OLLI opened at $105.22 on Thursday. The business’s 50-day simple moving average is $105.15 and its two-hundred day simple moving average is $101.40. The stock has a market cap of $6.45 billion, a PE ratio of 31.41, a P/E/G 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.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Ollie’s Bargain Outlet by 489.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company’s stock worth $25,000 after acquiring an additional 191 shares in the last quarter. Wilmington Savings Fund Society FSB grew its position in Ollie’s Bargain Outlet by 337.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company’s stock worth $26,000 after acquiring an additional 182 shares in the last quarter. Bogart Wealth LLC purchased a new position in Ollie’s Bargain Outlet in the fourth quarter worth about $26,000. Blue Trust Inc. boosted its position in shares of Ollie’s Bargain Outlet by 55.2% during the fourth quarter. Blue Trust Inc. now owns 284 shares of the company’s stock valued at $31,000 after buying an additional 101 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new position in shares of Ollie’s Bargain Outlet during the fourth 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.