Ollie’s Bargain Outlet (NASDAQ:OLLI) Price Target Cut to $105.00

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price objective dropped by investment analysts at JPMorgan Chase & Co. from $113.00 to $105.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 17.24% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley lifted their price target on Ollie’s Bargain Outlet from $80.00 to $92.00 and gave the stock an “equal weight” rating in a report on Thursday, June 6th. UBS Group lifted their target price on Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the stock a “neutral” rating in a research note on Friday. Truist Financial increased their price target on Ollie’s Bargain Outlet from $102.00 to $109.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Piper Sandler reaffirmed an “overweight” rating and set a $107.00 price objective on shares of Ollie’s Bargain Outlet in a research report on Friday. Finally, Royal Bank of Canada dropped their price objective on shares of Ollie’s Bargain Outlet from $101.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $102.54.

Ollie’s Bargain Outlet Stock Up 3.1 %

Shares of OLLI stock opened at $89.56 on Friday. Ollie’s Bargain Outlet has a 12 month low of $68.05 and a 12 month high of $104.98. The company’s fifty day simple moving average is $96.73 and its 200-day simple moving average is $84.60. The firm has a market cap of $5.48 billion, a PE ratio of 28.25, a P/E/G ratio of 2.60 and a beta of 0.90.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.78 earnings per share for the quarter, meeting the consensus estimate of $0.78. Ollie’s Bargain Outlet had a return on equity of 13.22% and a net margin of 9.14%. The company had revenue of $578.38 million during the quarter, compared to analysts’ expectations of $561.60 million. During the same quarter last year, the company earned $0.67 EPS. Ollie’s Bargain Outlet’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities analysts predict that Ollie’s Bargain Outlet will post 3.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Thomas Hendrickson sold 4,500 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $97.54, for a total value of $438,930.00. Following the completion of the sale, the director now directly owns 5,659 shares of the company’s stock, valued at approximately $551,978.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Ollie’s Bargain Outlet news, SVP James J. Comitale sold 2,153 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $104.17, for a total value of $224,278.01. Following the transaction, the senior vice president now directly owns 2,732 shares of the company’s stock, valued at $284,592.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas Hendrickson sold 4,500 shares of Ollie’s Bargain Outlet stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $97.54, for a total transaction of $438,930.00. Following the transaction, the director now owns 5,659 shares of the company’s stock, valued at $551,978.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,367 shares of company stock worth $3,061,165. 0.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new position in Ollie’s Bargain Outlet during the second quarter worth about $25,000. Venturi Wealth Management LLC boosted its stake in shares of Ollie’s Bargain Outlet by 194.3% in the 1st quarter. Venturi Wealth Management LLC now owns 309 shares of the company’s stock worth $25,000 after buying an additional 204 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Ollie’s Bargain Outlet in the second quarter valued at approximately $31,000. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Ollie’s Bargain Outlet during the first quarter valued at approximately $29,000. Finally, Crewe Advisors LLC bought a new stake in Ollie’s Bargain Outlet during the second quarter worth $36,000.

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.