Truist Financial Cuts Ollie’s Bargain Outlet (NASDAQ:OLLI) Price Target to $80.00

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price objective cut by Truist Financial from $112.00 to $80.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 25.96% from the company’s current price.

Several other research analysts have also recently weighed in on the stock. Citigroup decreased their price objective on shares of Ollie’s Bargain Outlet from $141.00 to $111.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Piper Sandler set a $114.00 target price on shares of Ollie’s Bargain Outlet in a report on Wednesday, June 3rd. KeyCorp reaffirmed an “overweight” rating on shares of Ollie’s Bargain Outlet in a research report on Monday, June 15th. Morgan Stanley decreased their target price on shares of Ollie’s Bargain Outlet from $120.00 to $108.00 and set an “equal weight” rating for the company in a research note on Thursday, June 4th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $70.00 price target (down from $152.00) on shares of Ollie’s Bargain Outlet in a report on Wednesday. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Ollie’s Bargain Outlet has a consensus rating of “Moderate Buy” and a consensus price target of $115.93.

Ollie’s Bargain Outlet Price Performance

Shares of Ollie’s Bargain Outlet stock traded up $1.63 during trading on Thursday, hitting $63.51. 2,792,260 shares of the company’s stock traded hands, compared to its average volume of 1,621,494. Ollie’s Bargain Outlet has a 1 year low of $60.29 and a 1 year high of $141.74. The business has a 50-day simple moving average of $78.25 and a 200-day simple moving average of $95.75. The stock has a market capitalization of $3.84 billion, a P/E ratio of 15.69, a PEG ratio of 1.18 and a beta of 0.47.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results on Wednesday, June 3rd. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $658.93 million during the quarter, compared to analyst estimates of $661.65 million. Ollie’s Bargain Outlet had a return on equity of 13.43% and a net margin of 9.13%.Ollie’s Bargain Outlet’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 EPS. Ollie’s Bargain Outlet has set its FY 2026 guidance at 4.450-4.550 EPS. On average, equities analysts predict that Ollie’s Bargain Outlet will post 4.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

A number of institutional investors and hedge funds have recently made changes to their positions in OLLI. Allworth Financial LP increased its holdings in Ollie’s Bargain Outlet by 301.8% during the third quarter. Allworth Financial LP now owns 221 shares of the company’s stock valued at $28,000 after buying an additional 166 shares during the last quarter. Cornerstone Planning Group LLC raised its position in Ollie’s Bargain Outlet by 218.8% in the fourth quarter. Cornerstone Planning Group LLC now owns 255 shares of the company’s stock worth $27,000 after acquiring an additional 175 shares during the period. Maseco LLP purchased a new position in shares of Ollie’s Bargain Outlet during the 4th quarter worth $30,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Ollie’s Bargain Outlet by 49.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 279 shares of the company’s stock valued at $31,000 after acquiring an additional 92 shares during the period. Finally, Quarry LP bought a new stake in shares of Ollie’s Bargain Outlet during the 3rd quarter valued at $55,000.

About Ollie’s Bargain Outlet

Ollie’s Bargain Outlet is an American discount retailer specializing in closeout merchandise and surplus inventory across a broad range of categories. The company operates a no-frills retail format that offers branded and private-label products at significant markdowns. Its merchandise mix typically includes housewares, electronics, health and beauty items, food products, beauty supplies, books, toys, and seasonal goods.

Founded in 1982 by Oliver E. “Ollie” Rosenberg, the company is headquartered in Harrisburg, Pennsylvania.