Ollie’s Bargain Outlet (NASDAQ:OLLI) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) from a hold rating to a sell rating in a research report report published on Tuesday morning.

Several other research analysts have also weighed in on OLLI. Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 price objective on shares of Ollie’s Bargain Outlet in a research note on Monday, December 23rd. Loop Capital increased their price target on shares of Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Citigroup raised shares of Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and upped their price objective for the stock from $64.00 to $133.00 in a report on Wednesday, December 18th. Truist Financial increased their price target on shares of Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $118.07.

Ollie’s Bargain Outlet Stock Down 2.0 %

Shares of NASDAQ:OLLI opened at $105.47 on Tuesday. Ollie’s Bargain Outlet has a fifty-two week low of $68.05 and a fifty-two week high of $120.03. The firm has a 50-day simple moving average of $108.63 and a 200 day simple moving average of $99.58. The company has a market cap of $6.46 billion, a PE ratio of 31.48, a P/E/G ratio of 2.76 and a beta of 0.81.

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

Insider Buying and Selling at Ollie’s Bargain Outlet

In other news, CEO John W. Swygert sold 4,032 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $102.51, for a total value of $413,320.32. Following the transaction, the chief executive officer now owns 48,200 shares in the company, valued at approximately $4,940,982. The trade was a 7.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Larry Kraus sold 10,646 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $115.58, for a total value of $1,230,464.68. Following the sale, the senior vice president now owns 1,905 shares in the company, 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. In the last quarter, insiders have sold 87,771 shares of company stock valued at $9,650,832. 0.87% of the stock is currently owned by corporate insiders.

Institutional Trading of Ollie’s Bargain Outlet

Institutional investors and hedge funds have recently modified their holdings of the stock. Legacy Capital Wealth Partners LLC boosted its holdings in shares of Ollie’s Bargain Outlet by 3.4% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 2,834 shares of the company’s stock worth $311,000 after acquiring an additional 94 shares during the period. Blue Trust Inc. boosted its position in Ollie’s Bargain Outlet by 55.2% during the 4th quarter. Blue Trust Inc. now owns 284 shares of the company’s stock valued at $31,000 after acquiring an additional 101 shares in the last quarter. UMB Bank n.a. boosted its position in Ollie’s Bargain Outlet by 25.3% during the 4th quarter. UMB Bank n.a. now owns 545 shares of the company’s stock valued at $60,000 after acquiring an additional 110 shares in the last quarter. Precision Wealth Strategies LLC boosted its position in Ollie’s Bargain Outlet by 3.2% during the 4th quarter. Precision Wealth Strategies LLC now owns 3,889 shares of the company’s stock valued at $427,000 after acquiring an additional 119 shares in the last quarter. Finally, Trust Point Inc. boosted its position in Ollie’s Bargain Outlet by 1.0% during the 3rd quarter. Trust Point Inc. now owns 13,184 shares of the company’s stock valued at $1,281,000 after acquiring an additional 134 shares in the last quarter.

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.