Ollie’s Bargain Outlet (NASDAQ:OLLI) Hits New 12-Month Low at $45.28

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as $45.28 and last traded at $45.46, with a volume of 9130 shares traded. The stock had previously closed at $47.22.

OLLI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. downgraded Ollie’s Bargain Outlet from a “neutral” rating to an “underweight” rating and set a $50.00 target price on the stock. in a research report on Friday, December 3rd. Wells Fargo & Company reduced their price objective 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 initiated coverage on Ollie’s Bargain Outlet in a research note on Thursday. They set a “hold” rating and a $50.00 price objective on the stock. Loop Capital reduced their price objective on Ollie’s Bargain Outlet from $70.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday, December 6th. Finally, Morgan Stanley reduced their price objective on Ollie’s Bargain Outlet from $80.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 9th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Ollie’s Bargain Outlet has an average rating of “Hold” and an average price target of $63.17.

The stock has a market cap of $2.85 billion, a P/E ratio of 16.71, a PEG ratio of 1.70 and a beta of 1.25. The business has a 50 day moving average price of $56.38 and a 200 day moving average price of $69.78.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its earnings results on Thursday, December 2nd. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $383.49 million for the quarter, compared to the consensus estimate of $415.22 million. During the same period in the prior year, the company posted $0.65 EPS. The company’s quarterly revenue was down 7.5% compared to the same quarter last year. On average, sell-side analysts forecast that Ollie’s Bargain Outlet Holdings, Inc. will post 2.33 earnings per share for the current year.

A number of large investors have recently made changes to their positions in the stock. Fenimore Asset Management Inc. grew its stake in Ollie’s Bargain Outlet by 40.4% in the fourth quarter. Fenimore Asset Management Inc. now owns 224,540 shares of the company’s stock worth $11,494,000 after purchasing an additional 64,660 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in Ollie’s Bargain Outlet by 31.8% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,450 shares of the company’s stock worth $74,000 after purchasing an additional 350 shares in the last quarter. Tributary Capital Management LLC grew its stake in Ollie’s Bargain Outlet by 25.5% in the fourth quarter. Tributary Capital Management LLC now owns 239,332 shares of the company’s stock worth $12,251,000 after purchasing an additional 48,625 shares in the last quarter. Segall Bryant & Hamill LLC grew its stake in Ollie’s Bargain Outlet by 2.4% in the third quarter. Segall Bryant & Hamill LLC now owns 54,099 shares of the company’s stock worth $3,261,000 after purchasing an additional 1,277 shares in the last quarter. Finally, CLARET ASSET MANAGEMENT Corp grew its stake in Ollie’s Bargain Outlet by 25.1% in the third quarter. CLARET ASSET MANAGEMENT Corp now owns 270,806 shares of the company’s stock worth $16,324,000 after purchasing an additional 54,414 shares in the last quarter.

Ollie’s Bargain Outlet Company Profile (NASDAQ:OLLI)

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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