Ollie’s Bargain Outlet (NASDAQ:OLLI) Upgraded at Citigroup

Citigroup upgraded shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) from a sell rating to a buy rating in a research report released on Wednesday morning, Marketbeat.com reports. Citigroup currently has $133.00 price target on the stock, up from their prior price target of $64.00.

A number of other equities analysts have also weighed in on OLLI. Craig Hallum increased their target price on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. StockNews.com downgraded Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. Truist Financial upped their price target on shares of Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Wells Fargo & Company lifted their price objective on shares of Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. increased their target price on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $117.85.

Ollie’s Bargain Outlet Trading Up 0.2 %

OLLI opened at $117.91 on Wednesday. The stock’s fifty day simple moving average is $97.94 and its 200 day simple moving average is $96.15. Ollie’s Bargain Outlet has a 1-year low of $68.05 and a 1-year high of $120.03. The stock has a market cap of $7.23 billion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 2.79 and a beta of 0.85.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The company had revenue of $517.43 million during the quarter, compared to analysts’ expectations of $518.83 million. During the same quarter last year, the company posted $0.51 EPS. Ollie’s Bargain Outlet’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities analysts forecast that Ollie’s Bargain Outlet will post 3.29 earnings per share for the current year.

Insider Buying and Selling at Ollie’s Bargain Outlet

In other news, CEO John W. Swygert sold 54,318 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $109.44, for a total value of $5,944,561.92. Following the completion of the transaction, the chief executive officer now owns 48,200 shares of the company’s stock, valued at approximately $5,275,008. This represents a 52.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Der Valk Eric Van sold 7,479 shares of the firm’s stock in a transaction that occurred 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 sale, the president now owns 5,615 shares in the company, valued at approximately $563,296.80. The trade was a 57.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,651 shares of company stock valued at $10,628,452. 0.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

Several institutional investors and hedge funds have recently added to or reduced their stakes in OLLI. International Assets Investment Management LLC bought a new stake in shares of Ollie’s Bargain Outlet during the second quarter worth $25,000. Crewe Advisors LLC bought a new stake in Ollie’s Bargain Outlet during the 2nd quarter worth $36,000. GAMMA Investing LLC increased its holdings in Ollie’s Bargain Outlet by 37.9% in the 3rd quarter. GAMMA Investing LLC now owns 651 shares of the company’s stock worth $63,000 after purchasing an additional 179 shares in the last quarter. Northwest & Ethical Investments L.P. bought a new position in Ollie’s Bargain Outlet in the third quarter valued at about $117,000. Finally, LRI Investments LLC boosted its stake in shares of Ollie’s Bargain Outlet by 2,356.1% during the third quarter. LRI Investments LLC now owns 1,400 shares of the company’s stock valued at $130,000 after purchasing an additional 1,343 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.