Bank of America Boosts Ollie’s Bargain Outlet (NASDAQ:OLLI) Price Target to $115.00

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price objective raised by Bank of America from $102.00 to $115.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on Ollie’s Bargain Outlet from $113.00 to $105.00 and set an overweight rating for the company in a research report on Friday, August 30th. Truist Financial lifted their price target on Ollie’s Bargain Outlet from $102.00 to $109.00 and gave the stock a buy rating in a research note on Friday, July 12th. Morgan Stanley upped their target price on Ollie’s Bargain Outlet from $80.00 to $92.00 and gave the stock an equal weight rating in a research note on Thursday, June 6th. Gordon Haskett raised shares of Ollie’s Bargain Outlet from an accumulate rating to a buy rating and increased their target price for the company from $105.00 to $107.00 in a report on Monday, August 26th. Finally, Craig Hallum boosted their price target on shares of Ollie’s Bargain Outlet from $100.00 to $105.00 and gave the stock a buy rating in a research note on Thursday, June 6th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $104.92.

Ollie’s Bargain Outlet Stock Performance

Shares of NASDAQ OLLI opened at $96.08 on Monday. The stock has a fifty day moving average of $95.10 and a 200-day moving average of $87.46. The stock has a market cap of $5.89 billion, a PE ratio of 30.31, a price-to-earnings-growth ratio of 2.42 and a beta of 0.84. Ollie’s Bargain Outlet has a fifty-two week low of $68.05 and a fifty-two week high of $104.98.

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

Insider Buying and Selling at Ollie’s Bargain Outlet

In other news, President Der Valk Eric Van sold 7,479 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $100.32, for a total value of $750,293.28. Following the sale, the president now directly owns 5,615 shares in the company, valued at approximately $563,296.80. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, SVP James J. Comitale sold 2,153 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $104.17, for a total value of $224,278.01. Following the completion of the transaction, the senior vice president now directly owns 2,732 shares of the company’s stock, valued at $284,592.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Der Valk Eric Van sold 7,479 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $100.32, for a total value of $750,293.28. Following the sale, the president now directly owns 5,615 shares in the company, valued at $563,296.80. The disclosure for this sale can be found here. Insiders sold 24,632 shares of company stock valued at $2,459,421 in the last 90 days. Insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in Ollie’s Bargain Outlet in the second quarter worth $298,000. Wallace Advisory Group LLC bought a new position in shares of Ollie’s Bargain Outlet during the second quarter valued at approximately $303,000. Algert Global LLC lifted its holdings in shares of Ollie’s Bargain Outlet by 12.9% during the second quarter. Algert Global LLC now owns 6,180 shares of the company’s stock valued at $607,000 after purchasing an additional 708 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Ollie’s Bargain Outlet during the second quarter valued at $560,000. Finally, Scientech Research LLC bought a new position in Ollie’s Bargain Outlet in the 2nd quarter worth about $1,318,000.

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.