Ollie's Bargain Outlet (NASDAQ:OLLI) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Ollie's Bargain Outlet (NASDAQ:OLLI - Free Report) had its price target raised by Morgan Stanley from $108.00 to $118.00 in a research note released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

OLLI has been the topic of a number of other reports. Citigroup upgraded shares of Ollie's Bargain Outlet from a "sell" rating to a "buy" rating and lifted their price objective for the company from $64.00 to $133.00 in a research note on Wednesday, December 18th. Bank of America boosted their price target on shares of Ollie's Bargain Outlet from $115.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Craig Hallum increased their price objective 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. Loop Capital boosted their target price on Ollie's Bargain Outlet from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Monday, December 23rd. Finally, Piper Sandler upped their target price on Ollie's Bargain Outlet from $107.00 to $126.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $123.08.

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Ollie's Bargain Outlet Trading Up 1.3 %

NASDAQ:OLLI traded up $1.34 during mid-day trading on Thursday, hitting $108.22. The stock had a trading volume of 1,005,862 shares, compared to its average volume of 1,090,906. The company has a 50 day simple moving average of $105.30 and a 200-day simple moving average of $101.85. Ollie's Bargain Outlet has a 52 week low of $68.05 and a 52 week high of $120.03. The stock has a market capitalization of $6.63 billion, a price-to-earnings ratio of 32.30, a P/E/G ratio of 2.21 and a beta of 0.83.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last issued its quarterly earnings data on Wednesday, March 19th. The company reported $1.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.01). The business had revenue of $667.10 million during 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 business's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $1.23 earnings per share. As a group, equities research analysts anticipate that Ollie's Bargain Outlet will post 3.29 earnings per share for the current year.

Institutional Investors Weigh In On Ollie's Bargain Outlet

Hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Ollie's Bargain Outlet by 489.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company's stock worth $25,000 after purchasing an additional 191 shares in the last quarter. Wilmington Savings Fund Society FSB increased its position in shares of 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 acquired a new stake in shares of Ollie's Bargain Outlet during the fourth quarter valued at approximately $26,000. Blue Trust Inc. lifted its position in shares of Ollie's Bargain Outlet by 55.2% in the 4th quarter. Blue Trust Inc. now owns 284 shares of the company's stock valued at $31,000 after acquiring an additional 101 shares in the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new position in Ollie's Bargain Outlet in the 4th quarter worth 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.