Ollie’s Bargain Outlet (NASDAQ:OLLI) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) from a sell rating to a hold rating in a research note issued to investors on Saturday.

A number of other equities research analysts also recently weighed in on the company. UBS Group raised their target price on Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Citigroup upgraded Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and increased their price target for the company from $64.00 to $133.00 in a research note on Wednesday, December 18th. JPMorgan Chase & Co. raised their price objective on Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Bank of America upped their target price on Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Piper Sandler boosted their price target on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $118.62.

Ollie’s Bargain Outlet Stock Down 1.8 %

OLLI stock opened at $117.60 on Friday. Ollie’s Bargain Outlet has a 52 week low of $68.05 and a 52 week high of $120.03. The business has a 50-day simple moving average of $100.74 and a 200 day simple moving average of $97.56. The company has a market cap of $7.21 billion, a PE ratio of 35.10, a price-to-earnings-growth ratio of 2.79 and a beta of 0.85.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results on Tuesday, December 10th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. The company had revenue of $517.43 million during the quarter, compared to analysts’ expectations of $518.83 million. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.51 EPS. On average, analysts anticipate that Ollie’s Bargain Outlet will post 3.29 EPS for the current fiscal year.

Insider Transactions at Ollie’s Bargain Outlet

In related news, Director Thomas Hendrickson sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $114.74, for a total transaction of $717,125.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert F. Helm sold 2,401 shares of the business’s stock in a transaction that occurred on Thursday, October 17th. The shares were 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 trade represents a 54.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,172 shares of company stock worth $9,878,158. Company insiders own 0.87% of the company’s stock.

Institutional Trading of Ollie’s Bargain Outlet

Several large investors have recently modified their holdings of OLLI. International Assets Investment Management LLC bought a new position in Ollie’s Bargain Outlet during the second quarter worth $25,000. GAMMA Investing LLC boosted its position in shares of Ollie’s Bargain Outlet by 37.9% during 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. acquired a new stake in shares of Ollie’s Bargain Outlet in the 3rd quarter valued at about $117,000. LRI Investments LLC increased its position in Ollie’s Bargain Outlet by 2,356.1% in the 3rd quarter. LRI Investments LLC now owns 1,400 shares of the company’s stock valued at $130,000 after buying an additional 1,343 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Ollie’s Bargain Outlet during the 3rd quarter worth approximately $151,000.

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.