Ollie’s Bargain Outlet (NASDAQ:OLLI) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price target hoisted by Royal Bank of Canada from $130.00 to $133.00 in a report released on Friday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the company. Bank of America raised their price objective 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. StockNews.com lowered Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research note on Tuesday, February 4th. Loop Capital increased their target price on Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Wells Fargo & Company increased their target price on 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, Truist Financial increased their target price on 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Ollie’s Bargain Outlet currently has a consensus rating of “Moderate Buy” and an average target price of $118.29.

Ollie’s Bargain Outlet Price Performance

Ollie’s Bargain Outlet stock opened at $103.03 on Friday. The stock’s 50-day moving average is $105.99 and its 200-day moving average is $100.99. The company has a market cap of $6.31 billion, a price-to-earnings ratio of 30.76, a price-to-earnings-growth ratio of 2.21 and a beta of 0.83. Ollie’s Bargain Outlet has a 12 month low of $68.05 and a 12 month high of $120.03.

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

Insider Buying and Selling at Ollie’s Bargain Outlet

In other news, SVP James J. Comitale sold 5,325 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $113.95, for a total value of $606,783.75. Following the completion of the transaction, the senior vice president now owns 3,140 shares in the company, valued at approximately $357,803. This trade represents a 62.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Larry Kraus sold 10,646 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $115.58, for a total value of $1,230,464.68. Following the completion of the transaction, the senior vice president now owns 1,905 shares of the company’s stock, valued at approximately $220,179.90. The trade was a 84.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,539 shares of company stock worth $8,498,935 in the last 90 days. 0.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in OLLI. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Ollie’s Bargain Outlet by 173.8% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company’s stock worth $509,671,000 after acquiring an additional 2,948,393 shares in the last quarter. Congress Asset Management Co. lifted its holdings in shares of Ollie’s Bargain Outlet by 181.6% in the 4th 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 during the last quarter. Norges Bank bought a new stake in shares of Ollie’s Bargain Outlet in the 4th quarter worth approximately $80,741,000. Stephens Investment Management Group LLC bought a new stake in shares of Ollie’s Bargain Outlet in the 4th quarter worth approximately $78,356,000. Finally, Holocene Advisors LP lifted its holdings in shares of Ollie’s Bargain Outlet by 10,159.3% in the 3rd quarter. Holocene Advisors LP now owns 471,413 shares of the company’s stock worth $45,821,000 after purchasing an additional 466,818 shares during the last quarter.

About Ollie’s Bargain Outlet

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.