Piper Sandler Has Lowered Expectations for Ollie's Bargain Outlet (NASDAQ:OLLI) Stock Price

Ollie's Bargain Outlet (NASDAQ:OLLI - Free Report) had its price target cut by Piper Sandler from $126.00 to $124.00 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also recently commented on OLLI. StockNews.com cut shares of Ollie's Bargain Outlet from a "hold" rating to a "sell" rating in a research report on Tuesday, February 4th. Craig Hallum raised their price objective on Ollie's Bargain Outlet from $107.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Bank of America increased their price target on Ollie's Bargain Outlet from $115.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Morgan Stanley raised their price target on Ollie's Bargain Outlet from $108.00 to $118.00 and gave the stock an "equal weight" rating in a report on Thursday. Finally, Citigroup upgraded shares of Ollie's Bargain Outlet from a "sell" rating to a "buy" rating and upped their price objective for the company from $64.00 to $133.00 in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $123.08.

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Ollie's Bargain Outlet Stock Up 1.7 %

OLLI traded up $1.82 on Thursday, reaching $108.70. 348,153 shares of the company traded hands, compared to its average volume of 1,088,443. The company has a market cap of $6.66 billion, a P/E ratio of 32.45, a price-to-earnings-growth ratio of 2.21 and a beta of 0.83. The firm has a fifty day simple moving average of $105.16 and a two-hundred day simple moving average of $101.70. Ollie's Bargain Outlet has a one year low of $68.05 and a one year high of $120.03.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last posted its quarterly earnings results 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 firm 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%. Ollie's Bargain Outlet's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.23 EPS. On average, equities analysts forecast 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OLLI. Mitsubishi UFJ Asset Management Co. Ltd. grew 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 purchasing an additional 191 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its stake in shares of Ollie's Bargain Outlet by 337.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company's stock valued at $26,000 after buying an additional 182 shares during the last quarter. Bogart Wealth LLC acquired a new stake in shares of Ollie's Bargain Outlet during the fourth quarter worth approximately $26,000. Blue Trust Inc. increased its stake in shares of Ollie's Bargain Outlet by 55.2% in the fourth quarter. Blue Trust Inc. now owns 284 shares of the company's stock worth $31,000 after buying an additional 101 shares during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new stake in Ollie's Bargain Outlet in the fourth 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.