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

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)’s stock price 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 traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on OLLI shares. StockNews.com cut Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research note on Tuesday, February 4th. Jefferies Financial Group cut Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and decreased their price target for the stock from $125.00 to $111.00 in a research note on Tuesday, February 4th. JPMorgan Chase & Co. increased their price target on Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Wells Fargo & Company increased their price target on Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Finally, Bank of America increased their price target on Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Ollie’s Bargain Outlet currently has an average rating of “Moderate Buy” and a consensus price target of $121.71.

Ollie’s Bargain Outlet Stock Down 2.5 %

The firm has a market cap of $6.45 billion, a P/E ratio of 31.41, a PEG ratio of 2.21 and a beta of 0.83. The company has a 50 day moving average of $105.15 and a two-hundred day moving average of $101.40.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings results on Wednesday, March 19th. The company reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The company had revenue of $667.10 million during the quarter, compared to analyst estimates of $674.61 million. During the same quarter last year, the business earned $1.23 EPS. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. Research analysts expect that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Legacy Capital Wealth Partners LLC boosted its position in shares of Ollie’s Bargain Outlet by 3.4% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 2,834 shares of the company’s stock valued at $311,000 after purchasing an additional 94 shares during the period. Coldstream Capital Management Inc. lifted its stake in Ollie’s Bargain Outlet by 3.4% in the 4th quarter. Coldstream Capital Management Inc. now owns 2,912 shares of the company’s stock worth $320,000 after acquiring an additional 97 shares in the last quarter. Blue Trust Inc. lifted its stake in Ollie’s Bargain Outlet by 55.2% in the 4th quarter. Blue Trust Inc. now owns 284 shares of the company’s stock worth $31,000 after acquiring an additional 101 shares in the last quarter. UMB Bank n.a. lifted its stake in Ollie’s Bargain Outlet by 25.3% in the 4th quarter. UMB Bank n.a. now owns 545 shares of the company’s stock worth $60,000 after acquiring an additional 110 shares in the last quarter. Finally, Precision Wealth Strategies LLC lifted its stake in Ollie’s Bargain Outlet by 3.2% in the 4th quarter. Precision Wealth Strategies LLC now owns 3,889 shares of the company’s stock worth $427,000 after acquiring an additional 119 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.