Truist Financial Increases Ollie’s Bargain Outlet (NASDAQ:OLLI) Price Target to $109.00

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price objective upped by stock analysts at Truist Financial from $102.00 to $109.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 7.87% from the stock’s current price.

Several other brokerages have also commented on OLLI. Piper Sandler raised their price objective on shares of Ollie’s Bargain Outlet from $100.00 to $107.00 and gave the stock an “overweight” rating in a report on Tuesday, June 25th. UBS Group raised their target price on Ollie’s Bargain Outlet from $95.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, June 6th. Craig Hallum upped their price target on Ollie’s Bargain Outlet from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. The Goldman Sachs Group raised their price objective on Ollie’s Bargain Outlet from $91.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Finally, Wells Fargo & Company increased their price target on shares of Ollie’s Bargain Outlet from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, June 6th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $102.08.

Ollie’s Bargain Outlet Stock Performance

OLLI opened at $101.05 on Friday. Ollie’s Bargain Outlet has a 52-week low of $67.71 and a 52-week high of $101.80. The stock has a market capitalization of $6.19 billion, a PE ratio of 31.88, a price-to-earnings-growth ratio of 2.68 and a beta of 0.90. The stock’s 50 day moving average price is $86.57 and its 200-day moving average price is $78.90.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings results on Wednesday, June 5th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. Ollie’s Bargain Outlet had a net margin of 9.14% and a return on equity of 13.22%. The business had revenue of $508.82 million for the quarter, compared to analysts’ expectations of $506.49 million. During the same quarter in the previous year, the business posted $0.49 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. Research analysts forecast that Ollie’s Bargain Outlet will post 3.26 EPS for the current fiscal year.

Insider Activity

In related news, Director Thomas Hendrickson sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $72.29, for a total value of $361,450.00. Following the transaction, the director now directly owns 5,659 shares of the company’s stock, valued at approximately $409,089.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, President Der Valk Eric Van sold 1,438 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $90.00, for a total value of $129,420.00. Following the completion of the sale, the president now directly owns 4,158 shares in the company, valued at $374,220. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas Hendrickson sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $72.29, for a total transaction of $361,450.00. Following the transaction, the director now directly owns 5,659 shares of the company’s stock, valued at $409,089.11. The disclosure for this sale can be found here. Insiders have sold a total of 37,384 shares of company stock worth $3,211,937 over the last 90 days. 0.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

A number of large investors have recently added to or reduced their stakes in OLLI. Capital Research Global Investors purchased a new position in shares of Ollie’s Bargain Outlet in the 1st quarter worth $136,978,000. Norges Bank bought a new position in Ollie’s Bargain Outlet in the 4th quarter worth $59,215,000. Wellington Management Group LLP lifted its position in shares of Ollie’s Bargain Outlet by 141.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,075,882 shares of the company’s stock valued at $83,037,000 after buying an additional 630,298 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Ollie’s Bargain Outlet by 6.2% during the first quarter. Vanguard Group Inc. now owns 5,882,908 shares of the company’s stock valued at $468,103,000 after purchasing an additional 343,903 shares in the last quarter. Finally, Wasatch Advisors LP boosted its holdings in Ollie’s Bargain Outlet by 5.2% in the 4th quarter. Wasatch Advisors LP now owns 3,761,480 shares of the company’s stock worth $285,459,000 after buying an additional 184,864 shares during the period.

About Ollie’s Bargain Outlet

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.