Ollie’s Bargain Outlet (NASDAQ:OLLI) Shares Gap Up – Still a Buy?

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)’s share price gapped up before the market opened 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.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on OLLI shares. StockNews.com lowered shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research note on Tuesday, February 4th. Jefferies Financial Group lowered Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $125.00 to $111.00 in a research note on Tuesday, February 4th. Piper Sandler boosted their price target on shares of Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Citigroup raised shares of Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and boosted their price target for the company from $64.00 to $133.00 in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada boosted their target price on shares of Ollie’s Bargain Outlet from $130.00 to $133.00 and gave the company an “outperform” rating in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $118.29.

Ollie’s Bargain Outlet Stock Performance

The company has a market capitalization of $6.72 billion, a PE ratio of 32.79, a price-to-earnings-growth ratio of 2.21 and a beta of 0.83. The stock’s fifty day simple moving average is $105.06 and its 200-day simple moving average is $101.33.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings data on Wednesday, March 19th. The company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.01). The company had revenue of $667.10 million for the quarter, compared to analysts’ expectations of $674.61 million. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.23 earnings per share. On average, equities analysts anticipate that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current year.

Institutional Trading of Ollie’s Bargain Outlet

A number of hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Ollie’s Bargain Outlet by 489.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company’s stock worth $25,000 after acquiring an additional 191 shares in the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of Ollie’s Bargain Outlet by 337.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company’s stock valued at $26,000 after purchasing an additional 182 shares in the last quarter. Bogart Wealth LLC acquired a new position in shares of Ollie’s Bargain Outlet in the 4th quarter valued at approximately $26,000. Blue Trust Inc. raised its position in shares of Ollie’s Bargain Outlet by 55.2% in the 4th quarter. Blue Trust Inc. now owns 284 shares of the company’s stock valued at $31,000 after purchasing an additional 101 shares in the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new stake in Ollie’s Bargain Outlet in the fourth quarter valued at $33,000.

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.