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

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Truist Financial increased their price objective on shares of Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Jefferies Financial Group cut Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and dropped their price target for the stock from $125.00 to $111.00 in a research report on Tuesday, February 4th. StockNews.com lowered Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Tuesday, February 4th. Craig Hallum increased their target price on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company increased their price objective on shares of Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $118.29.

Ollie’s Bargain Outlet Stock Performance

The stock has a market cap of $6.72 billion, a P/E ratio of 32.79, a P/E/G ratio of 2.21 and a beta of 0.83. The firm has a 50 day moving average of $105.06 and a two-hundred day moving average of $101.33.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its earnings results 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). 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 the consensus estimate of $674.61 million. During the same quarter in the previous year, the business posted $1.23 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. On average, sell-side analysts anticipate that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 EPS for the current fiscal year.

Institutional Trading of Ollie’s Bargain Outlet

Hedge funds have recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC raised its position in Ollie’s Bargain Outlet by 173.8% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company’s stock valued at $509,671,000 after purchasing an additional 2,948,393 shares during the last quarter. Congress Asset Management Co. raised its holdings in shares of Ollie’s Bargain Outlet by 181.6% in the fourth quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company’s stock valued at $210,307,000 after buying an additional 1,235,994 shares during the last quarter. Norges Bank bought a new position in shares of Ollie’s Bargain Outlet in the fourth quarter valued at about $80,741,000. Stephens Investment Management Group LLC bought a new position in shares of Ollie’s Bargain Outlet in the fourth quarter valued at about $78,356,000. Finally, Holocene Advisors LP raised its stake in shares of Ollie’s Bargain Outlet by 10,159.3% in the third quarter. Holocene Advisors LP now owns 471,413 shares of the company’s stock worth $45,821,000 after acquiring an additional 466,818 shares during the last quarter.

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.