Ollie’s Bargain Outlet (NASDAQ:OLLI) Upgraded by Citigroup to Buy Rating

Citigroup upgraded shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) from a sell rating to a buy rating in a research note released on Wednesday, Marketbeat Ratings reports. Citigroup currently has $133.00 price target on the stock, up from their prior price target of $64.00.

A number of other brokerages have also issued reports on OLLI. UBS Group lifted their target price on shares of Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Craig Hallum boosted their target price on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Gordon Haskett raised Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and raised their price target for the stock from $105.00 to $107.00 in a research note on Monday, August 26th. Truist Financial boosted their price target 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. Finally, StockNews.com lowered shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $117.85.

Ollie’s Bargain Outlet Trading Up 0.2 %

OLLI stock traded up $0.20 on Wednesday, hitting $114.69. 118,023 shares of the company’s stock traded hands, compared to its average volume of 1,051,702. The stock has a market cap of $7.03 billion, a price-to-earnings ratio of 34.24, a P/E/G 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 $118.47. The stock has a fifty day moving average of $97.09 and a 200-day moving average of $95.87.

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

Insider Activity

In related news, CEO John W. Swygert sold 2,400 shares of the stock in a transaction dated Friday, December 6th. The shares were 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 in the company, valued at $4,942,428. This trade represents a 4.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Der Valk Eric Van sold 7,479 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $100.32, for a total transaction of $750,293.28. Following the completion of the transaction, the president now owns 5,615 shares in the company, valued at approximately $563,296.80. This trade represents a 57.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,651 shares of company stock worth $10,628,452. Corporate insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. D. E. Shaw & Co. Inc. boosted its position in Ollie’s Bargain Outlet by 953.2% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 566,738 shares of the company’s stock valued at $55,637,000 after buying an additional 512,928 shares during the last quarter. Holocene Advisors LP lifted its holdings in Ollie’s Bargain Outlet by 10,159.3% in the third quarter. Holocene Advisors LP now owns 471,413 shares of the company’s stock valued at $45,821,000 after buying an additional 466,818 shares during the period. Los Angeles Capital Management LLC boosted its stake in Ollie’s Bargain Outlet by 199.3% in the second quarter. Los Angeles Capital Management LLC now owns 560,054 shares of the company’s stock valued at $54,981,000 after acquiring an additional 372,914 shares during the last quarter. Wellington Management Group LLP increased its holdings in Ollie’s Bargain Outlet by 155.8% in the third quarter. Wellington Management Group LLP now owns 483,044 shares of the company’s stock valued at $46,952,000 after purchasing an additional 294,217 shares during the last quarter. Finally, Loomis Sayles & Co. L P bought a new stake in shares of Ollie’s Bargain Outlet in the 3rd quarter valued at about $16,590,000.

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.