Ollie's Bargain Outlet (NASDAQ:OLLI) Price Target Raised to $123.00

Ollie's Bargain Outlet (NASDAQ:OLLI - Free Report) had its target price upped by UBS Group from $117.00 to $123.00 in a report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

OLLI has been the subject of a number of other reports. Craig Hallum boosted their target price on shares of Ollie's Bargain Outlet from $107.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Loop Capital increased their target price on Ollie's Bargain Outlet from $120.00 to $130.00 and gave the company a "buy" rating in a report on Monday, December 23rd. Citigroup raised Ollie's Bargain Outlet from a "sell" rating to a "buy" rating and raised their target price for the stock from $64.00 to $133.00 in a research report on Wednesday, December 18th. Royal Bank of Canada upped their price target on shares of Ollie's Bargain Outlet from $130.00 to $133.00 and gave the company an "outperform" rating in a research report on Friday, March 7th. Finally, Morgan Stanley raised their price objective on shares of Ollie's Bargain Outlet from $108.00 to $118.00 and gave the stock an "equal weight" rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $123.08.

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Ollie's Bargain Outlet Price Performance

Shares of Ollie's Bargain Outlet stock traded up $1.34 during trading on Thursday, hitting $108.22. 1,005,862 shares of the company's stock traded hands, compared to its average volume of 1,090,906. Ollie's Bargain Outlet has a 1 year low of $68.05 and a 1 year high of $120.03. The business has a 50-day simple moving average of $105.30 and a 200-day simple moving average of $101.85. The stock has a market capitalization of $6.63 billion, a P/E ratio of 32.30, a PEG ratio of 2.21 and a beta of 0.83.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last announced 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). Ollie's Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The company had revenue of $667.10 million for the quarter, compared to analysts' expectations of $674.61 million. During the same period in the previous year, the business earned $1.23 EPS. The business's revenue was up 2.8% compared to the same quarter last year. On average, equities analysts predict that Ollie's Bargain Outlet will post 3.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Ollie's Bargain Outlet by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,821,957 shares of the company's stock worth $638,843,000 after buying an additional 70,496 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of 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 worth $509,671,000 after purchasing an additional 2,948,393 shares in the last quarter. Congress Asset Management Co. grew its position in shares of 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 purchasing an additional 1,235,994 shares in the last quarter. State Street Corp raised its stake in Ollie's Bargain Outlet by 2.1% during the 3rd quarter. State Street Corp now owns 1,871,047 shares of the company's stock valued at $181,866,000 after purchasing an additional 38,203 shares during the period. Finally, Invesco Ltd. lifted its holdings in Ollie's Bargain Outlet by 1.1% in the 4th quarter. Invesco Ltd. now owns 1,645,472 shares of the company's stock worth $180,558,000 after purchasing an additional 17,302 shares in the last quarter.

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.