Ollie’s Bargain Outlet (NASDAQ:OLLI) Now Covered by Analysts at Truist Securities

Truist Securities initiated coverage on shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) in a note issued to investors on Thursday, Analyst Price Targets reports. The brokerage set a “hold” rating and a $50.00 price target on the stock. Truist Securities’ target price would indicate a potential upside of 10.62% from the stock’s previous close.

A number of other equities research analysts have also weighed in on OLLI. Craig Hallum lowered shares of Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and dropped their price objective for the company from $101.00 to $51.00 in a report on Friday, December 3rd. TheStreet lowered shares of Ollie’s Bargain Outlet from a “b-” rating to a “c+” rating in a report on Monday, September 27th. Morgan Stanley lowered their price target on shares of Ollie’s Bargain Outlet from $80.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, December 9th. Berenberg Bank reiterated a “buy” rating on shares of Ollie’s Bargain Outlet in a research report on Friday, December 10th. Finally, Royal Bank of Canada dropped their price objective on shares of Ollie’s Bargain Outlet from $85.00 to $76.00 and set an “outperform” rating for the company in a research note on Friday, December 3rd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $63.17.

NASDAQ OLLI opened at $45.20 on Thursday. The firm has a market capitalization of $2.85 billion, a P/E ratio of 16.74, a P/E/G ratio of 1.70 and a beta of 1.25. Ollie’s Bargain Outlet has a 12-month low of $44.80 and a 12-month high of $123.52. The firm’s fifty day simple moving average is $55.83 and its two-hundred day simple moving average is $69.61.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings data on Thursday, December 2nd. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.13). The company had revenue of $383.49 million for the quarter, compared to analysts’ expectations of $415.22 million. Ollie’s Bargain Outlet had a net margin of 10.03% and a return on equity of 12.85%. Ollie’s Bargain Outlet’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same period last year, the firm earned $0.65 earnings per share. On average, analysts forecast that Ollie’s Bargain Outlet will post 2.33 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in OLLI. Guidance Point Advisors LLC acquired a new stake in Ollie’s Bargain Outlet during the 3rd quarter worth approximately $26,000. Signaturefd LLC raised its holdings in shares of Ollie’s Bargain Outlet by 453.4% in the 3rd quarter. Signaturefd LLC now owns 963 shares of the company’s stock valued at $58,000 after purchasing an additional 789 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Ollie’s Bargain Outlet by 126.0% in the 2nd quarter. Van ECK Associates Corp now owns 782 shares of the company’s stock valued at $66,000 after purchasing an additional 436 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Ollie’s Bargain Outlet in the 3rd quarter valued at $66,000. Finally, Heritage Wealth Management LLC raised its stake in Ollie’s Bargain Outlet by 42.8% during the 2nd quarter. Heritage Wealth Management LLC now owns 921 shares of the company’s stock worth $77,000 after acquiring an additional 276 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.

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Analyst Recommendations for Ollie's Bargain Outlet (NASDAQ:OLLI)

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