Truist Securities Initiates Coverage on Ollie’s Bargain Outlet (NASDAQ:OLLI)

Equities researchers at Truist Securities assumed coverage on shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) in a report issued on Thursday, Analyst Ratings Network reports. The brokerage set a “hold” rating and a $50.00 price target on the stock. Truist Securities’ target price would suggest a potential upside of 10.62% from the stock’s current price.

A number of other analysts have also commented on OLLI. Morgan Stanley dropped their price target on 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. KeyCorp lowered their target price on Ollie’s Bargain Outlet from $95.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, December 3rd. Wells Fargo & Company lowered their target price on Ollie’s Bargain Outlet from $70.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday, December 3rd. Truist Financial began coverage on Ollie’s Bargain Outlet in a research report on Thursday. They issued a “hold” rating and a $50.00 price target for the company. Finally, Zacks Investment Research upgraded Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating and set a $72.00 price target for the company in a research report on Wednesday, October 27th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Ollie’s Bargain Outlet currently has a consensus rating of “Hold” and a consensus target price of $63.17.

Shares of Ollie’s Bargain Outlet stock opened at $45.20 on Thursday. Ollie’s Bargain Outlet has a 52 week low of $44.80 and a 52 week high of $123.52. The stock has a 50 day moving average price of $55.83 and a two-hundred day moving average price of $69.61. The stock has a market capitalization of $2.85 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 1.70 and a beta of 1.25.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its earnings results on Thursday, December 2nd. The company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.13). Ollie’s Bargain Outlet had a net margin of 10.03% and a return on equity of 12.85%. The company had revenue of $383.49 million during the quarter, compared to the consensus estimate of $415.22 million. During the same quarter in the prior year, the business earned $0.65 EPS. The firm’s revenue for the quarter was down 7.5% compared to the same quarter last year. As a group, analysts expect that Ollie’s Bargain Outlet will post 2.33 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC boosted its stake in Ollie’s Bargain Outlet by 2.7% during the 2nd quarter. FMR LLC now owns 7,804,314 shares of the company’s stock valued at $656,576,000 after purchasing an additional 201,622 shares during the last quarter. Wasatch Advisors Inc. lifted its holdings in shares of Ollie’s Bargain Outlet by 52.9% during the 3rd quarter. Wasatch Advisors Inc. now owns 7,621,692 shares of the company’s stock valued at $459,436,000 after buying an additional 2,638,156 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Ollie’s Bargain Outlet by 2.6% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,556,948 shares of the company’s stock valued at $551,636,000 after buying an additional 166,037 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Ollie’s Bargain Outlet by 11.5% during the 2nd quarter. Vanguard Group Inc. now owns 5,347,581 shares of the company’s stock valued at $449,892,000 after buying an additional 550,838 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Ollie’s Bargain Outlet by 1.7% during the 3rd quarter. BlackRock Inc. now owns 4,919,264 shares of the company’s stock valued at $296,533,000 after buying an additional 83,597 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.

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

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