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

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its target price reduced by stock analysts at Piper Sandler from $126.00 to $124.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price would indicate a potential upside of 16.02% from the company’s previous close.

A number of other brokerages have also weighed in on OLLI. Wells Fargo & Company lifted their price objective on Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th. Morgan Stanley lifted their price target on shares of Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the company an “equal weight” rating in a report on Thursday. JPMorgan Chase & Co. upped their price objective on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Jefferies Financial Group lowered shares of Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and cut their target price for the company from $125.00 to $111.00 in a research note on Tuesday, February 4th. Finally, Truist Financial raised their price objective on shares of Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $123.08.

Ollie’s Bargain Outlet Stock Up 1.6 %

Shares of OLLI opened at $106.88 on Thursday. The stock has a market capitalization of $6.55 billion, a P/E ratio of 31.90, a PEG ratio of 2.21 and a beta of 0.83. Ollie’s Bargain Outlet has a twelve month low of $68.05 and a twelve month high of $120.03. The firm has a fifty 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 issued its quarterly earnings data on Wednesday, March 19th. The company reported $1.19 EPS for the quarter, missing the consensus estimate 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 net margin of 9.22% and a return on equity of 13.15%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the company posted $1.23 earnings per share. Sell-side analysts expect that Ollie’s Bargain Outlet will post 3.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Hedge funds have recently added to or reduced their stakes in the stock. Legacy Capital Wealth Partners LLC raised its position in shares of Ollie’s Bargain Outlet by 3.4% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 2,834 shares of the company’s stock worth $311,000 after purchasing an additional 94 shares during the last quarter. Coldstream Capital Management Inc. raised its holdings in Ollie’s Bargain Outlet by 3.4% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,912 shares of the company’s stock worth $320,000 after buying an additional 97 shares during the last quarter. Blue Trust Inc. raised its holdings in 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. UMB Bank n.a. lifted its stake in shares of Ollie’s Bargain Outlet by 25.3% in the fourth quarter. UMB Bank n.a. now owns 545 shares of the company’s stock worth $60,000 after buying an additional 110 shares in the last quarter. Finally, Precision Wealth Strategies LLC grew its holdings in shares of Ollie’s Bargain Outlet by 3.2% during the fourth quarter. Precision Wealth Strategies LLC now owns 3,889 shares of the company’s stock valued at $427,000 after buying an additional 119 shares during 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.