What just happened? Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) stock value has climbed by nearly 3.26% or (1.77 points) to $56.12 from its previous close of $54.35. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 1249853 contracts so far this session. OLLI shares had a relatively better volume day versus average trading capacity of 1.52 million shares, but with a 55.07 million float and a 4.2% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for OLLI stock indicates that the average analyst price target is $73.86 per share. This means the stock has a potential increase of 31.61% from where the OLLI share price has been trading recently.
During the recent trading session for Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI), the company witnessed their stock rise $6.52 over a week and surge $1.27 from the price 20 days ago. When compared to their established 52-week high of $103.03, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 05/28/19. The recent low of $46.97 stood for a -45.53% since 10/02/20, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.86 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Ollie’s Bargain Outlet Holdings, Inc., the two-week RSI stands at 51.44. This figure suggests that OLLI stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current OLLI readings is similarly very revealing as it has a stochastic reading of 69% at this stage. This figure means that OLLI share price today is being neutral.
Technical chart claims that Ollie’s Bargain Outlet Holdings, Inc. (OLLI) would settle between $55.41/share to $56.48/share level. However, if the stock price goes below the $53.21 mark, then the market for Ollie’s Bargain Outlet Holdings, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $52.07 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 1.84. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Odeon, assumed coverage of OLLI assigning Buy rating, according to their opinion released on January 24. RBC Capital Mkts analysts bumped their rating on Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) stock from Sector Perform to Outperform in a separate flash note issued to investors on October 15. Analysts at Craig Hallum, made their first call for the equity with a Buy recommendation, according to a research note that dated back to September 11.
OLLI equity has an average rating of 2.07, with the figure leaning towards a bullish end. 14 analysts who tracked the company were contacted by Reuters. Amongst them, 4 rated the stock as a hold while the remaining 10 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 10 analysts rated Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, OLLI stock price is currently trading at 23.42X forward 12-month Consensus EPS estimates, and its P/E ratio is 25.4 while for the average stock in the same group, the multiple is 27.3. Ollie’s Bargain Outlet Holdings, Inc. current P/B ratio of 3.4 means it is trading at a discount against its industry’s 5.3.
Ollie’s Bargain Outlet Holdings, Inc. (OLLI)’s current-quarter revenues are projected to climb by nearly 12.3% to hit $442490, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 12.8% from $1.24 billion to a noteworthy $1.4 billion. At the other end of the current quarter income statement, Ollie’s Bargain Outlet Holdings, Inc. is expected to see its adjusted earnings surge by roughly 8.5% to hit $0.77 per share. For the fiscal year, OLLI’s earnings are projected to climb by roughly 8.7% to hit $1.99 per share.