These Analysts Boost Price Targets On Ollie's Bargain Outlet Following Upbeat Q4 Earnings

Ollie's Bargain Outlet Holdings Inc OLLI reported upbeat results for its fourth quarter and issued a strong FY23 financial outlook.

Ollie's Bargain Outlet reported sales growth of 9.7% year-on-year to $549.79 million, beating the consensus of $542.18 million. Adjusted EPS of $0.84 beat the analyst consensus of $0.79.

Ollie's sees FY23 adjusted EPS of $2.49 - $2.58, above the consensus of $2.38. It expects FY23 sales of $2.036 billion - $2.058 billion, above the Street view of $2.00 billion.

Ollie's shares climbed 9.8% to close at $58.47 on Wednesday and lost 1.7% in today’s pre-market trading session.

These analysts made changes to their price targets on Ollie's Bargain Outlet following the release of results.

• Goldman Sachs raised the price target on Ollie's Bargain Outlet from $56 to $61. Goldman Sachs analyst Kate McShane maintained a Neutral rating.
• Morgan Stanley increased the price target on Ollie's Bargain Outlet from $50 to $54. Morgan Stanley analyst Simeon Gutman maintained an Equal-Weight rating.
• Loop Capital boosted the price target on Ollie's Bargain Outlet from $42 to $58. Loop Capital analyst Anthony Chukumba maintained the stock with an Equal-Weight rating.

Read More: Over $1M Bet On This Energy Stock? Check Out These 3 Stocks Insiders Are Buying