Morgan Stanley Forecasts Strong Price Appreciation for Ollie’s Bargain Outlet (NASDAQ:OLLI) Stock

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its target price upped by analysts at Morgan Stanley from $108.00 to $118.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 9.32% from the company’s current price.

OLLI has been the subject of a number of other research reports. Royal Bank of Canada increased their price objective on Ollie’s Bargain Outlet from $130.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. Truist Financial upped 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. Loop Capital raised their target price on Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Craig Hallum upped their price target on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Bank of America raised their price objective on 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 analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $120.14.

Ollie’s Bargain Outlet Trading Up 9.0 %

OLLI opened at $107.94 on Thursday. The stock has a market capitalization of $6.61 billion, a P/E ratio of 32.22, a PEG ratio of 2.21 and a beta of 0.83. The stock has a 50-day moving average price of $105.13 and a 200-day moving average price of $101.38. Ollie’s Bargain Outlet has a 12-month low of $68.05 and a 12-month high of $120.03.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued 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 firm had revenue of $667.10 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.23 EPS. On average, equities research analysts predict that Ollie’s Bargain Outlet will post 3.29 EPS for the current year.

Institutional Trading of Ollie’s Bargain Outlet

A number of institutional investors and hedge funds have recently modified their holdings of OLLI. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in 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 acquiring an additional 191 shares during the period. Wilmington Savings Fund Society FSB raised its holdings in shares of Ollie’s Bargain Outlet by 337.0% during the fourth 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 last quarter. Bogart Wealth LLC bought a new position in Ollie’s Bargain Outlet during the fourth quarter valued at approximately $26,000. Blue Trust Inc. grew 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 worth $31,000 after purchasing an additional 101 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new stake in Ollie’s Bargain Outlet during the 4th quarter valued at $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.