Bank of America Forecasts Strong Price Appreciation for Ollie's Bargain Outlet (NASDAQ:OLLI) Stock

Key Points

• Bank of America raised the target price for Ollie's Bargain Outlet stock from $130.00 to $145.00, indicating a potential upside of 10.36% from the previous close.
• Ollie's recently reported quarterly earnings of $0.99 per share, surpassing the consensus estimate of $0.91, while its revenue for the quarter reached $679.56 million, reflecting a 17.5% year-over-year increase.
• Ollie's Bargain Outlet currently holds a consensus rating of "Moderate Buy" from analysts, with a target price consensus of $135.62.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) had its target price increased by equities researchers at Bank of America from $130.00 to $145.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Bank of America's target price indicates a potential upside of 10.36% from the stock's previous close.

Several other analysts also recently commented on OLLI. KeyCorp set a $145.00 price objective on shares of Ollie's Bargain Outlet and gave the company an "overweight" rating in a research report on Thursday, June 26th. Piper Sandler raised their price objective on shares of Ollie's Bargain Outlet from $123.00 to $150.00 and gave the company an "overweight" rating in a research report on Tuesday, August 19th. Royal Bank Of Canada raised their price objective on shares of Ollie's Bargain Outlet from $133.00 to $144.00 and gave the company an "outperform" rating in a research report on Monday, August 18th. Wall Street Zen upgraded shares of Ollie's Bargain Outlet from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Loop Capital downgraded shares of Ollie's Bargain Outlet from a "buy" rating to a "hold" rating and set a $130.00 price objective on the stock. in a research report on Tuesday, June 24th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Ollie's Bargain Outlet presently has a consensus rating of "Moderate Buy" and a consensus target price of $135.62.

Ollie's Bargain Outlet Stock Performance

Shares of NASDAQ OLLI opened at $131.39 on Friday. The firm's 50 day moving average price is $132.67 and its 200-day moving average price is $117.49. The company has a market cap of $8.06 billion, a PE ratio of 40.43, a P/E/G ratio of 2.93 and a beta of 0.40. Ollie's Bargain Outlet has a 52-week low of $86.29 and a 52-week high of $141.74.

Ollie's Bargain Outlet (NASDAQ:OLLI - Get Free Report) last released its quarterly earnings results on Thursday, August 28th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.08. Ollie's Bargain Outlet had a return on equity of 12.27% and a net margin of 8.59%.The firm had revenue of $679.56 million for the quarter, compared to analysts' expectations of $658.03 million. During the same period in the prior year, the firm earned $0.78 EPS. The company's revenue was up 17.5% compared to the same quarter last year. Ollie's Bargain Outlet has set its FY 2025 guidance at 3.760-3.840 EPS. On average, analysts forecast that Ollie's Bargain Outlet will post 3.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Der Valk Eric Van sold 728 shares of the firm's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $112.85, for a total transaction of $82,154.80. Following the completion of the transaction, the chief executive officer directly owned 7,761 shares of the company's stock, valued at approximately $875,828.85. This trade represents a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.75% of the company's stock.

Hedge Funds Weigh In On Ollie's Bargain Outlet

Several institutional investors have recently bought and sold shares of OLLI. Coldstream Capital Management Inc. grew its stake in Ollie's Bargain Outlet by 3.4% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,912 shares of the company's stock valued at $320,000 after acquiring an additional 97 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in shares of Ollie's Bargain Outlet in the 4th quarter worth $411,000. Northern Trust Corp grew its stake in shares of Ollie's Bargain Outlet by 18.5% in the 4th quarter. Northern Trust Corp now owns 555,660 shares of the company's stock worth $60,973,000 after buying an additional 86,569 shares in the last quarter. Schonfeld Strategic Advisors LLC grew its stake in shares of Ollie's Bargain Outlet by 85.2% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 5,800 shares of the company's stock worth $636,000 after buying an additional 2,668 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new position in shares of Ollie's Bargain Outlet in the 4th quarter worth $24,452,000.

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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