Morgan Stanley Issues Positive Forecast for Ollie’s Bargain Outlet (NASDAQ:OLLI) Stock Price

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 firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 9.32% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. StockNews.com downgraded shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. raised their target price on Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Jefferies Financial Group downgraded shares of Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and cut their price target for the stock from $125.00 to $111.00 in a report on Tuesday, February 4th. Craig Hallum raised their price objective on shares of Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Piper Sandler raised their price target on shares of Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $120.14.

Ollie’s Bargain Outlet Price Performance

Shares of OLLI opened at $107.94 on Thursday. The company has a market cap of $6.61 billion, a PE ratio of 32.22, a P/E/G ratio of 2.21 and a beta of 0.83. Ollie’s Bargain Outlet has a one year low of $68.05 and a one year high of $120.03. The stock has a 50-day moving average of $105.13 and a 200-day moving average of $101.38.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its earnings results on Wednesday, March 19th. The company reported $1.19 EPS for the quarter, missing the consensus estimate 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 return on equity of 13.15% and a net margin of 9.22%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.23 earnings per share. Analysts expect that Ollie’s Bargain Outlet will post 3.29 EPS for the current fiscal year.

Institutional Trading of Ollie’s Bargain Outlet

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Ollie’s Bargain Outlet by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 5,821,957 shares of the company’s stock valued at $638,843,000 after purchasing an additional 70,496 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Ollie’s Bargain Outlet by 173.8% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company’s stock valued at $509,671,000 after buying an additional 2,948,393 shares during the period. Congress Asset Management Co. grew its position in Ollie’s Bargain Outlet by 181.6% during the fourth quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company’s stock worth $210,307,000 after buying an additional 1,235,994 shares in the last quarter. State Street Corp increased its stake in Ollie’s Bargain Outlet by 2.1% in the 3rd quarter. State Street Corp now owns 1,871,047 shares of the company’s stock worth $181,866,000 after acquiring an additional 38,203 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Ollie’s Bargain Outlet by 1.1% in the 4th quarter. Invesco Ltd. now owns 1,645,472 shares of the company’s stock valued at $180,558,000 after acquiring an additional 17,302 shares in the last quarter.

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.