Ollie’s Bargain Outlet (NASDAQ:OLLI) Upgraded 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 report report published on Saturday morning.

Several other brokerages also recently commented on OLLI. Loop Capital upped their price target on shares of Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Craig Hallum raised their target price on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Piper Sandler lifted their price target on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Citigroup raised Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and increased their price objective for the stock from $64.00 to $133.00 in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $130.00 target price on shares of Ollie’s Bargain Outlet in a research note on Monday, December 23rd. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $118.62.

Ollie’s Bargain Outlet Stock Performance

Shares of NASDAQ:OLLI opened at $110.51 on Friday. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 32.99, a PEG ratio of 2.79 and a beta of 0.85. Ollie’s Bargain Outlet has a 1-year low of $68.05 and a 1-year high of $120.03. The company has a 50 day moving average price of $100.74 and a 200 day moving average price of $97.74.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The business had revenue of $517.43 million for the quarter, compared to analysts’ expectations of $518.83 million. During the same period in the previous year, the firm posted $0.51 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts expect that Ollie’s Bargain Outlet will post 3.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Ollie’s Bargain Outlet news, CEO John W. Swygert sold 2,400 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $102.54, for a total transaction of $246,096.00. Following the completion of the sale, the chief executive officer now owns 48,200 shares of the company’s stock, valued at $4,942,428. This represents a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas Hendrickson sold 6,250 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $114.74, for a total value of $717,125.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,172 shares of company stock worth $9,878,158. Corporate insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Ollie’s Bargain Outlet by 11.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,326 shares of the company’s stock valued at $1,112,000 after purchasing an additional 1,124 shares during the period. Signaturefd LLC grew its stake in shares of Ollie’s Bargain Outlet by 6.4% in the second quarter. Signaturefd LLC now owns 1,727 shares of the company’s stock worth $170,000 after acquiring an additional 104 shares during the last quarter. International Assets Investment Management LLC bought a new position in Ollie’s Bargain Outlet during the second quarter worth $25,000. Rothschild Investment LLC acquired a new position in Ollie’s Bargain Outlet during the 2nd quarter valued at $1,746,000. Finally, Commonwealth Equity Services LLC boosted its holdings in Ollie’s Bargain Outlet by 6.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 7,574 shares of the company’s stock valued at $744,000 after purchasing an additional 433 shares during the period.

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.