Ollie’s Bargain Outlet (NASDAQ:OLLI) Price Target Raised to $118.00 at Morgan Stanley

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price target increased by equities research analysts at Morgan Stanley from $108.00 to $118.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 10.40% from the stock’s current price.

OLLI has been the subject of a number of other research reports. 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. JPMorgan Chase & Co. upped their price objective on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Truist Financial upped their price objective on shares of Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Jefferies Financial Group cut shares of Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and cut their price objective for the company from $125.00 to $111.00 in a research note on Tuesday, February 4th. Finally, Bank of America upped their price objective on shares of 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.08.

Ollie’s Bargain Outlet Price Performance

OLLI stock opened at $106.88 on Thursday. Ollie’s Bargain Outlet has a one year low of $68.05 and a one year high of $120.03. The stock has a market cap of $6.55 billion, a PE ratio of 31.90, a P/E/G ratio of 2.21 and a beta of 0.83. The firm has a 50 day simple moving average of $105.16 and a two-hundred day simple moving average of $101.52.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings results on Wednesday, March 19th. The company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The company had revenue of $667.10 million during the quarter, compared to analysts’ expectations of $674.61 million. During the same period in the prior year, the firm earned $1.23 EPS. Ollie’s Bargain Outlet’s quarterly revenue was up 2.8% on a year-over-year basis. On average, research analysts expect that Ollie’s Bargain Outlet will post 3.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of 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 acquiring an additional 191 shares in the last quarter. Wilmington Savings Fund Society FSB increased its stake in shares of Ollie’s Bargain Outlet by 337.0% in the 4th 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 bought a new position in shares of Ollie’s Bargain Outlet in the 4th quarter worth about $26,000. Blue Trust Inc. increased its stake 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 worth $31,000 after acquiring an additional 101 shares in the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in shares of Ollie’s Bargain Outlet in the 4th quarter worth about $33,000.

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.