Ollie’s Bargain Outlet (NASDAQ:OLLI) PT Raised to $58.00

Ollie's Bargain Outlet logoOllie’s Bargain Outlet (NASDAQ:OLLI – Get Rating) had its price target lifted by equities researchers at Loop Capital from £42.00 to £58.00 in a report issued on Thursday, The Fly reports. The firm presently has an “equal weight” rating on the stock. Loop Capital’s price objective suggests a potential downside of 0.17% from the company’s current price.

OLLI has been the subject of a number of other reports. The Goldman Sachs Group raised their target price on Ollie’s Bargain Outlet from £56.00 to £61.00 in a report on Wednesday. Craig Hallum dropped their price objective on shares of Ollie’s Bargain Outlet from £70.00 to £65.00 in a report on Thursday, December 8th.

Gordon Haskett downgraded shares of Ollie’s Bargain Outlet from a “buy” rating to an “accumulate” rating and set a £53.00 target price on the stock. in a research note on Thursday, December 8th. StockNews.com raised shares of Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a research report on Wednesday, March 15th. Finally, Morgan Stanley upped their price objective on Ollie’s Bargain Outlet from £50.00 to £54.00 and gave the stock an “equal weight” rating in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock.

According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of £62.13.

Ollie’s Bargain Outlet Stock Performance

Ollie’s Bargain Outlet stock opened at £58.10 on Thursday. The company’s 50 day simple moving average is £55.57 and its 200-day simple moving average is £54.60. Ollie’s Bargain Outlet has a 1 year low of £40.11 and a 1 year high of £72.27.

The company has a market capitalization of £3.62 billion, a price-to-earnings ratio of 38.73, a price-to-earnings-growth ratio of 1.85 and a beta of 0.96.

Ollie’s Bargain Outlet (NASDAQ:OLLI – Get Rating) last posted its earnings results on Wednesday, March 22nd. The company reported £0.84 earnings per share for the quarter, beating the consensus estimate of £0.80 by £0.04. Ollie’s Bargain Outlet had a net margin of 5.31% and a return on equity of 7.15%.

The firm had revenue of £549.80 million during the quarter, compared to the consensus estimate of £542.18 million. During the same quarter last year, the firm earned £0.69 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis.

Equities analysts expect that Ollie’s Bargain Outlet will post 2.54 earnings per share for the current year.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Several institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its holdings in Ollie’s Bargain Outlet by 14.9% during the second quarter.

Price T Rowe Associates Inc. MD now owns 4,006,215 shares of the company’s stock worth £235,365,000 after purchasing an additional 518,390 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Ollie’s Bargain Outlet by 21.0% in the third quarter.

Bank of New York Mellon Corp now owns 2,518,593 shares of the company’s stock valued at £129,961,000 after acquiring an additional 437,397 shares during the last quarter. State Street Corp boosted its stake in Ollie’s Bargain Outlet by 1.2% in the first quarter. State Street Corp now owns 1,691,148 shares of the company’s stock valued at £72,652,000 after acquiring an additional 19,381 shares in the last quarter.

Royal London Asset Management Ltd. boosted its stake in Ollie’s Bargain Outlet by 37.2% in the second quarter. Royal London Asset Management Ltd. now owns 1,318,101 shares of the company’s stock valued at £77,471,000 after acquiring an additional 357,499 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Ollie’s Bargain Outlet by 15.4% during the fourth quarter.

Dimensional Fund Advisors LP now owns 1,249,204 shares of the company’s stock worth £58,512,000 after purchasing an additional 166,293 shares during the last quarter.

About Ollie’s Bargain Outlet

(Get Rating) 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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