Ollies Bargain Outlet stock hits 52-week high at 122.16 USD

Ollies Bargain Outlet Holdings Inc (NASDAQ:OLLI), with a market capitalization of $7.48 billion, has reached a significant milestone, with its stock hitting a 52-week high of 122.16 USD. According to InvestingPro analysis, the company appears to be trading above its Fair Value. This marks a notable achievement for the company, reflecting a positive trajectory over the past year. The stock’s performance has been bolstered by a 23.38% increase in value over the last 12 months, with year-to-date returns of 9.65%. The company maintains strong financial health with a comfortable current ratio of 2.87 and revenue growth of 8.7%. This upward trend highlights the company’s resilience and growth potential in the current economic climate. Get access to 12 additional InvestingPro Tips and comprehensive analysis in the Pro Research Report to make more informed investment decisions.

In other recent news, Ollie’s Bargain Outlet reported first-quarter results that aligned with market expectations, showing a comparable-store sales increase of 2.6%, which surpassed both UBS’s estimate and the consensus. Despite a slight year-over-year decline in gross margin, the company maintained most gains from the previous year. Piper Sandler adjusted their price target for Ollie’s to $123, citing a favorable market position and potential growth drivers, including inventory from liquidated retailers. KeyBanc maintained an Overweight rating and a $135 price target, highlighting strong first-quarter sales and strategic growth through acquisitions of Big Lots (NYSE:BIG) locations. RBC Capital also reaffirmed their Outperform rating with a $133 price target, noting discussions around the impact of Big Lots closures and weather challenges. Morgan Stanley (NYSE:MS) maintained an Equalweight rating, projecting varying scenarios for future comparable sales growth and earnings per share. UBS retained a Neutral rating, emphasizing Ollie’s potential to benefit from value-seeking consumers in a volatile economic environment. These developments reflect a mix of cautious optimism and strategic positioning for Ollie’s Bargain Outlet amid current market dynamics.

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