JPMorgan Chase & Co. Issues Positive Forecast for Ollie’s Bargain Outlet (NASDAQ:OLLI) Stock Price

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its target price increased by stock analysts at JPMorgan Chase & Co. from $105.00 to $135.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 21.41% from the stock’s previous close.

OLLI has been the topic of a number of other research reports. Truist Financial boosted their target price on Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday. Piper Sandler upped their price objective on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday. Royal Bank of Canada upped their price objective on Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday. Wells Fargo & Company lowered Ollie’s Bargain Outlet from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $100.00 to $95.00 in a report on Tuesday, December 3rd. Finally, Loop Capital reaffirmed a “buy” rating and set a $110.00 price objective on shares of Ollie’s Bargain Outlet in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $116.58.

Ollie’s Bargain Outlet Trading Down 2.0 %

NASDAQ:OLLI opened at $111.19 on Wednesday. The firm has a market cap of $6.82 billion, a P/E ratio of 33.19, a PEG ratio of 2.53 and a beta of 0.85. The stock’s 50 day simple moving average is $95.95 and its 200-day simple moving average is $94.95. Ollie’s Bargain Outlet has a 12-month low of $68.05 and a 12-month high of $115.98.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The business had revenue of $517.43 million for the quarter, compared to analyst estimates of $518.83 million. Ollie’s Bargain Outlet had a return on equity of 13.27% and a net margin of 9.19%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 earnings per share. Research analysts forecast that Ollie’s Bargain Outlet will post 3.27 EPS for the current fiscal year.

Insider Activity at Ollie’s Bargain Outlet

In related news, CFO Robert F. Helm sold 2,401 shares of the company’s stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $94.68, for a total value of $227,326.68. Following the completion of the transaction, the chief financial officer now directly owns 2,021 shares in the company, valued at approximately $191,348.28. This represents a 54.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP James J. Comitale sold 5,325 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $113.95, for a total value of $606,783.75. Following the sale, the senior vice president now owns 3,140 shares of the company’s stock, valued at $357,803. This represents a 62.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,755 shares of company stock worth $10,165,712. 0.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Several institutional investors and hedge funds have recently added to or reduced their stakes in OLLI. Cetera Advisors LLC acquired a new stake in Ollie’s Bargain Outlet during the first quarter worth about $228,000. Diversified Trust Co increased its stake in Ollie’s Bargain Outlet by 30.1% during the second quarter. Diversified Trust Co now owns 5,838 shares of the company’s stock worth $573,000 after acquiring an additional 1,350 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Ollie’s Bargain Outlet in the second quarter valued at about $362,000. Envestnet Portfolio Solutions Inc. grew its stake in shares of Ollie’s Bargain Outlet by 31.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,208 shares of the company’s stock valued at $511,000 after buying an additional 1,254 shares in the last quarter. Finally, Portside Wealth Group LLC grew its stake in shares of Ollie’s Bargain Outlet by 41.3% in the second quarter. Portside Wealth Group LLC now owns 12,299 shares of the company’s stock valued at $1,207,000 after buying an additional 3,596 shares in the last quarter.

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.