Ollie’s Bargain Outlet (NASDAQ:OLLI) Lifted to Hold at StockNews.com

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 Friday morning.

A number of other research analysts have also recently weighed in on the stock. Royal Bank of Canada reduced their price target 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, August 30th. Piper Sandler reaffirmed an overweight rating and set a $107.00 price target on shares of Ollie’s Bargain Outlet in a research report on Friday, August 30th. Bank of America lifted their price target on shares of Ollie’s Bargain Outlet from $92.00 to $102.00 and gave the company a buy rating in a research report on Thursday, June 6th. Wells Fargo & Company lifted their price target on shares of Ollie’s Bargain Outlet from $85.00 to $100.00 and gave the company an overweight rating in a research report on Thursday, June 6th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Ollie’s Bargain Outlet from $113.00 to $105.00 and set an overweight rating on the stock in a research note on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $104.42.

Ollie’s Bargain Outlet Stock Performance

OLLI opened at $97.20 on Friday. The company’s 50 day simple moving average is $95.17 and its 200 day simple moving average is $87.31. Ollie’s Bargain Outlet has a 1 year low of $68.05 and a 1 year high of $104.98. The stock has a market capitalization of $5.95 billion, a PE ratio of 30.66, a P/E/G ratio of 2.55 and a beta of 0.84.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its earnings results on Thursday, August 29th. The company reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78. Ollie’s Bargain Outlet had a net margin of 9.19% and a return on equity of 13.27%. The business had revenue of $578.38 million for the quarter, compared to analysts’ expectations of $561.60 million. During the same period last year, the company earned $0.67 earnings per share. The company’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, sell-side analysts expect that Ollie’s Bargain Outlet will post 3.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ollie’s Bargain Outlet news, President Der Valk Eric Van sold 7,479 shares of the business’s stock in a transaction 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 $563,296.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Ollie’s Bargain Outlet news, President Der Valk Eric Van sold 7,479 shares of the business’s stock in a transaction 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 $563,296.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Kevin Mclain sold 15,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $98.99, for a total transaction of $1,484,850.00. Following the sale, the senior vice president now owns 10,610 shares of the company’s stock, valued at approximately $1,050,283.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,632 shares of company stock worth $2,459,421. Insiders own 0.87% of the company’s stock.

Institutional Trading of Ollie’s Bargain Outlet

Several institutional investors have recently added to or reduced their stakes in OLLI. International Assets Investment Management LLC bought a new stake in Ollie’s Bargain Outlet during the second quarter valued at $25,000. ORG Partners LLC acquired a new position in shares of Ollie’s Bargain Outlet during the first quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Ollie’s Bargain Outlet during the second quarter valued at $31,000. Crewe Advisors LLC acquired a new position in shares of Ollie’s Bargain Outlet during the second quarter valued at $36,000. Finally, Versant Capital Management Inc acquired a new position in shares of Ollie’s Bargain Outlet during the second quarter valued at $38,000.

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.