Ollie’s Bargain Outlet (NASDAQ:OLLI) Lifted to “Hold” at StockNews.com

Ollie’s Bargain Outlet (NASDAQ:OLLI – Get Rating) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Several other research firms have also recently weighed in on OLLI. Loop Capital dropped their price objective on shares of Ollie’s Bargain Outlet from $50.00 to $45.00 in a research report on Thursday, December 8th. Truist Financial lowered their target price on shares of Ollie’s Bargain Outlet from $50.00 to $46.00 in a report on Thursday, December 8th. Craig Hallum lowered their target price on shares of Ollie’s Bargain Outlet from $70.00 to $65.00 in a report on Thursday, December 8th. Jefferies Financial Group lowered their target price on shares of Ollie’s Bargain Outlet from $65.00 to $60.00 in a report on Thursday, December 8th. Finally, UBS Group lowered their target price on shares of Ollie’s Bargain Outlet to $54.00 in a report on Monday, December 12th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.67.

Ollie’s Bargain Outlet Price Performance

OLLI stock opened at $52.23 on Wednesday. The company has a 50 day moving average price of $55.17 and a 200 day moving average price of $54.63. Ollie’s Bargain Outlet has a fifty-two week low of $39.60 and a fifty-two week high of $72.27. The stock has a market capitalization of $3.25 billion, a PE ratio of 34.82, a price-to-earnings-growth ratio of 1.84 and a beta of 0.96.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

Institutional investors and hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in Ollie’s Bargain Outlet by 14.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,006,215 shares of the company’s stock worth $235,365,000 after purchasing an additional 518,390 shares during the period. Bank of New York Mellon Corp boosted its stake in Ollie’s Bargain Outlet by 21.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,518,593 shares of the company’s stock worth $129,961,000 after purchasing an additional 437,397 shares during the period. State Street Corp boosted its stake in Ollie’s Bargain Outlet by 1.2% in the 1st quarter. State Street Corp now owns 1,691,148 shares of the company’s stock worth $72,652,000 after purchasing an additional 19,381 shares during the period. Royal London Asset Management Ltd. boosted its stake in Ollie’s Bargain Outlet by 37.2% in the 2nd quarter. Royal London Asset Management Ltd. now owns 1,318,101 shares of the company’s stock worth $77,471,000 after purchasing an additional 357,499 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Ollie’s Bargain Outlet by 15.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,249,204 shares of the company’s stock worth $58,512,000 after purchasing an additional 166,293 shares during the period.

Ollie’s Bargain Outlet Company Profile

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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.