Ollie’s Bargain Outlet (NASDAQ:OLLI) Trading 5.2% Higher – Time to Buy?

Shares of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) rose 5.2% during mid-day trading on Thursday . The company traded as high as $112.79 and last traded at $113.81. Approximately 161,578 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 1,086,573 shares. The stock had previously closed at $108.17.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on OLLI shares. Royal Bank of Canada boosted their price objective on Ollie’s Bargain Outlet from $130.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, March 7th. Morgan Stanley upped their price target on Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. UBS Group boosted their target price on shares of Ollie’s Bargain Outlet from $117.00 to $123.00 and gave the stock a “neutral” rating in a report on Thursday, March 20th. Wells Fargo & Company raised their target price on shares of Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 11th. Finally, Craig Hallum boosted their price target on shares of 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $123.08.

Ollie’s Bargain Outlet Trading Up 4.3 %

The firm has a market capitalization of $6.91 billion, a P/E ratio of 33.67, a price-to-earnings-growth ratio of 2.21 and a beta of 0.83. The firm has a 50 day moving average price of $105.66 and a 200-day moving average price of $102.02.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings results on Wednesday, March 19th. The company reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The company had revenue of $667.10 million during the quarter, compared to the consensus estimate of $674.61 million. During the same quarter in the prior year, the business earned $1.23 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. Research analysts anticipate that Ollie’s Bargain Outlet Holdings, Inc. will post 3.29 earnings per share for the current year.

Insider Activity at Ollie’s Bargain Outlet

In other news, CFO Robert F. Helm sold 2,145 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $108.50, for a total transaction of $232,732.50. Following the transaction, the chief financial officer now owns 3,888 shares of the company’s stock, valued at approximately $421,848. This represents a 35.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert Fisch sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $108.08, for a total value of $675,500.00. Following the sale, the director now directly owns 22,159 shares of the company’s stock, valued at $2,394,944.72. This represents a 22.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in OLLI. Vanguard Group Inc. boosted its position in Ollie’s Bargain Outlet by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,821,957 shares of the company’s stock valued at $638,843,000 after buying an additional 70,496 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Ollie’s Bargain Outlet by 173.8% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company’s stock valued at $509,671,000 after purchasing an additional 2,948,393 shares during the period. Congress Asset Management Co. grew its stake in Ollie’s Bargain Outlet by 181.6% in the fourth quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company’s stock worth $210,307,000 after purchasing an additional 1,235,994 shares in the last quarter. State Street Corp increased its holdings in Ollie’s Bargain Outlet by 2.1% during the 3rd quarter. State Street Corp now owns 1,871,047 shares of the company’s stock worth $181,866,000 after purchasing an additional 38,203 shares during the period. Finally, Invesco Ltd. raised its position in Ollie’s Bargain Outlet by 1.1% during the 4th quarter. Invesco Ltd. now owns 1,645,472 shares of the company’s stock valued at $180,558,000 after purchasing an additional 17,302 shares in the last quarter.

Ollie’s Bargain Outlet Company Profile

Ollie’s Bargain Outlet Holdings, Inc is a holding company, which engages in the retail of closeouts, excess inventory, and salvage merchandise. It offers overstocks, package changes, manufacturer refurbished goods, and irregulars. The company’s products include housewares, food, books and stationery, bed and bath, floor coverings, electronics and toys.