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 target lowered by research analysts at Piper Sandler from $126.00 to $124.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price indicates a potential upside of 15.61% from the company’s current price.

Several other analysts also recently weighed in on OLLI. UBS Group boosted their price target on shares of Ollie’s Bargain Outlet from $117.00 to $123.00 and gave the stock a “neutral” rating in a research note on Thursday. Loop Capital boosted their price target on shares of Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Citigroup raised shares of Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and boosted their price target for the stock from $64.00 to $133.00 in a research note on Wednesday, December 18th. Truist Financial boosted their price target 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, Wells Fargo & Company boosted their price target on shares of Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. One equities research 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, Ollie’s Bargain Outlet presently has a consensus rating of “Moderate Buy” and an average target price of $121.71.

Ollie’s Bargain Outlet Trading Down 0.6 %

Shares of Ollie’s Bargain Outlet stock traded down $0.68 on Thursday, hitting $107.26. 468,449 shares of the company traded hands, compared to its average volume of 1,097,298. The firm’s 50-day simple moving average is $105.13 and its 200 day simple moving average is $101.38. The company has a market cap of $6.57 billion, a P/E ratio of 32.04, a P/E/G ratio of 2.21 and a beta of 0.83. 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 posted its quarterly earnings data on Wednesday, March 19th. The company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.01). The company had revenue of $667.10 million for 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 business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 EPS. Analysts predict that Ollie’s Bargain Outlet will post 3.29 earnings per share for the current year.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

Hedge funds and other institutional investors have recently modified their holdings of the stock. Oak Thistle LLC purchased a new position in shares of Ollie’s Bargain Outlet during the fourth quarter valued at about $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 valued at $18,400,000 after buying an additional 83,882 shares during the period. 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 valued at $5,120,000 after buying an additional 12,476 shares during the period. 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 valued at $73,256,000 after buying an additional 5,438 shares during the period. Finally, Fred Alger Management LLC grew its holdings in Ollie’s Bargain Outlet by 12.1% in the third quarter. Fred Alger Management LLC now owns 772,145 shares of the company’s stock worth $75,052,000 after purchasing an additional 83,063 shares during the period.

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.