Ollie’s Bargain Outlet (NASDAQ:OLLI) Given New $115.00 Price Target at Bank of America

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price objective upped by analysts at Bank of America from $102.00 to $115.00 in a research note issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target points to a potential upside of 18.06% from the stock’s previous close.

Several other analysts have also weighed in on the company. Royal Bank of Canada reduced their price objective on Ollie’s Bargain Outlet from $101.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, August 30th. JPMorgan Chase & Co. decreased their price target on shares of Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Craig Hallum increased their price objective on shares of Ollie’s Bargain Outlet from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Piper Sandler reaffirmed an “overweight” rating and set a $107.00 target price on shares of Ollie’s Bargain Outlet in a research note on Friday, August 30th. Finally, Gordon Haskett upgraded shares of Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and upped their price target for the stock from $105.00 to $107.00 in a report on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Ollie’s Bargain Outlet currently has a consensus rating of “Moderate Buy” and an average price target of $104.42.

Ollie’s Bargain Outlet Trading Up 0.4 %

Ollie’s Bargain Outlet stock traded up $0.43 during trading hours on Monday, reaching $97.41. 189,331 shares of the stock were exchanged, compared to its average volume of 1,034,192. The stock has a 50 day moving average of $95.21 and a two-hundred day moving average of $87.15. The company has a market cap of $5.98 billion, a P/E ratio of 30.68, a price-to-earnings-growth ratio of 2.55 and a beta of 0.84. Ollie’s Bargain Outlet has a twelve month low of $68.05 and a twelve month high of $104.98.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78. Ollie’s Bargain Outlet had a net margin of 9.19% and a return on equity of 13.27%. The business had revenue of $578.38 million for the quarter, compared to analysts’ expectations of $561.60 million. During the same period last year, the firm posted $0.67 earnings per share. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, analysts expect that Ollie’s Bargain Outlet will post 3.28 earnings per share for the current fiscal year.

Insider Activity

In related news, President Der Valk Eric Van sold 7,479 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $100.32, for a total value of $750,293.28. Following the transaction, the president now directly owns 5,615 shares of the company’s stock, valued at $563,296.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, President Der Valk Eric Van sold 7,479 shares of Ollie’s Bargain Outlet stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $100.32, for a total transaction of $750,293.28. Following the completion of the transaction, the president now owns 5,615 shares of the company’s stock, valued at $563,296.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP James J. Comitale sold 2,153 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $104.17, for a total transaction of $224,278.01. Following the sale, the senior vice president now directly owns 2,732 shares in the company, valued at approximately $284,592.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,632 shares of company stock valued at $2,459,421. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

A number of hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new stake in shares of Ollie’s Bargain Outlet during the 2nd quarter worth approximately $298,000. Wallace Advisory Group LLC acquired a new stake in Ollie’s Bargain Outlet in the second quarter worth $303,000. Algert Global LLC grew its holdings in Ollie’s Bargain Outlet by 12.9% in the second quarter. Algert Global LLC now owns 6,180 shares of the company’s stock worth $607,000 after purchasing an additional 708 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in Ollie’s Bargain Outlet in the second quarter valued at $560,000. Finally, Scientech Research LLC acquired a new position in shares of Ollie’s Bargain Outlet during the second quarter valued at about $1,318,000.

Ollie’s Bargain Outlet Company Profile

Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise in the United States. The company offers housewares, bed and bath, food, floor coverings, health and beauty aids, books and stationery, toys, and electronics; and other products, including hardware, candy, clothing, sporting goods, pet and lawn, and garden products.