Ollie’s Bargain Outlet (NASDAQ:OLLI) Shares Gap Up – What’s Next?

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) gapped up prior to trading on Wednesday . The stock had previously closed at $99.06, but opened at $106.46. Ollie’s Bargain Outlet shares last traded at $109.03, with a volume of 477,631 shares.

Analysts Set New Price Targets

A number of research firms have weighed in on OLLI. Bank of America upped their price target on Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Morgan Stanley upped 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. Craig Hallum upped their price target on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Truist Financial upped their price target on Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, StockNews.com lowered Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Ollie’s Bargain Outlet currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.71.

Ollie’s Bargain Outlet Trading Down 2.5 %

The firm has a market capitalization of $6.45 billion, a price-to-earnings ratio of 31.41, a price-to-earnings-growth ratio of 2.21 and a beta of 0.83. The company has a 50-day moving average of $105.15 and a 200-day moving average of $101.40.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings results on Wednesday, March 19th. The company reported $1.19 earnings per share (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 analyst estimates 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 in the prior year, the company posted $1.23 earnings per share. On average, research analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Large investors have recently added to or reduced their stakes in the stock. Oak Thistle LLC acquired a new stake in Ollie’s Bargain Outlet in the fourth quarter worth $1,345,000. JPMorgan Chase & Co. increased its position in Ollie’s Bargain Outlet by 79.6% in the third quarter. JPMorgan Chase & Co. now owns 189,301 shares of the company’s stock worth $18,400,000 after buying an additional 83,882 shares during the period. Van ECK Associates Corp increased its position in Ollie’s Bargain Outlet by 36.5% in the fourth quarter. Van ECK Associates Corp now owns 46,659 shares of the company’s stock worth $5,120,000 after buying an additional 12,476 shares during the period. Charles Schwab Investment Management Inc. increased its position in Ollie’s Bargain Outlet by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 753,658 shares of the company’s stock worth $73,256,000 after buying an additional 5,438 shares during the period. Finally, Fred Alger Management LLC increased its position in Ollie’s Bargain Outlet by 12.1% in the third quarter. Fred Alger Management LLC now owns 772,145 shares of the company’s stock worth $75,052,000 after buying an additional 83,063 shares during the period.

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.