Brokerages Set Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) Price Target at $123.08

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) has been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $123.08.

A number of analysts have commented on OLLI shares. UBS Group upped their price target on shares of Ollie’s Bargain Outlet from $117.00 to $123.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. Jefferies Financial Group cut shares of Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and cut their price target for the company from $125.00 to $111.00 in a research report on Tuesday, February 4th. Piper Sandler cut their price objective on shares of Ollie’s Bargain Outlet from $126.00 to $124.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. StockNews.com raised shares of Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Morgan Stanley increased their price objective on shares of Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 20th.

Insider Activity at Ollie’s Bargain Outlet

In other news, CFO Robert F. Helm sold 2,145 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $108.50, for a total transaction of $232,732.50. Following the completion of the sale, the chief financial officer now owns 3,888 shares in the company, valued at $421,848. This trade represents a 35.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Der Valk Eric Van sold 1,153 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $110.85, for a total transaction of $127,810.05. Following the sale, the chief executive officer now owns 6,768 shares of the company’s stock, valued at approximately $750,232.80. The trade was a 14.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,897 shares of company stock valued at $4,227,970. 0.75% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Empowered Funds LLC purchased a new position in shares of Ollie’s Bargain Outlet during the 1st quarter valued at $359,000. Axiom Investors LLC DE bought a new stake in shares of Ollie’s Bargain Outlet during the 1st quarter worth $4,749,000. United Services Automobile Association bought a new stake in shares of Ollie’s Bargain Outlet during the 1st quarter worth $461,000. Redwood Investments LLC lifted its holdings in shares of Ollie’s Bargain Outlet by 50.0% during the 1st quarter. Redwood Investments LLC now owns 27,099 shares of the company’s stock worth $3,153,000 after acquiring an additional 9,027 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Ollie’s Bargain Outlet by 42.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 446,277 shares of the company’s stock worth $51,929,000 after acquiring an additional 133,537 shares during the last quarter.

Ollie’s Bargain Outlet Trading Up 4.4%

Shares of OLLI opened at $118.86 on Wednesday. The stock has a market capitalization of $7.30 billion, a P/E ratio of 35.48, a price-to-earnings-growth ratio of 2.21 and a beta of 0.45. The firm’s fifty day simple moving average is $109.61 and its two-hundred day simple moving average is $106.07. Ollie’s Bargain Outlet has a 12 month low of $72.19 and a 12 month high of $120.03.

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

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.