Ollie’s Bargain Outlet (NASDAQ:OLLI) Raised to “Hold” at StockNews.com

Ollie’s Bargain Outlet (NASDAQ:OLLI) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.

OLLI has been the subject of a number of other reports. Citigroup upgraded 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 research note on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Craig Hallum boosted their target price on shares of 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. Truist Financial raised 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 research note on Wednesday, December 11th. Finally, Bank of America boosted their price objective on Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $117.85.

Ollie’s Bargain Outlet Price Performance

Ollie’s Bargain Outlet stock opened at $117.91 on Thursday. The company has a market cap of $7.23 billion, a PE ratio of 35.20, a P/E/G ratio of 2.79 and a beta of 0.85. Ollie’s Bargain Outlet has a 12 month low of $68.05 and a 12 month high of $120.03. The company has a fifty day moving average price of $97.94 and a two-hundred day moving average price of $96.15.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings data on Tuesday, December 10th. The company reported $0.58 earnings per share 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 firm had revenue of $517.43 million for the quarter, compared to analyst estimates of $518.83 million. During the same quarter in the prior year, the business earned $0.51 earnings per share. Ollie’s Bargain Outlet’s quarterly revenue was up 7.8% on a year-over-year basis. Equities research analysts anticipate that Ollie’s Bargain Outlet will post 3.29 earnings per share for the current year.

Insider Activity

In related news, CEO John W. Swygert sold 2,400 shares of the firm’s stock in a transaction that occurred on 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 directly owns 48,200 shares in the company, valued at approximately $4,942,428. This trade represents a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Robert F. Helm sold 2,401 shares of Ollie’s Bargain Outlet stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $94.68, for a total value of $227,326.68. Following the completion of the transaction, the chief financial officer now owns 2,021 shares in the company, valued at $191,348.28. The trade was a 54.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,651 shares of company stock worth $10,628,452 over the last 90 days. 0.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in shares of Ollie’s Bargain Outlet in the 2nd quarter valued at approximately $25,000. Crewe Advisors LLC purchased a new stake in shares of Ollie’s Bargain Outlet in the second quarter valued at $36,000. GAMMA Investing LLC boosted its position in shares of Ollie’s Bargain Outlet by 37.9% in the third quarter. GAMMA Investing LLC now owns 651 shares of the company’s stock worth $63,000 after buying an additional 179 shares during the period. Northwest & Ethical Investments L.P. purchased a new position in shares of Ollie’s Bargain Outlet during the third quarter valued at $117,000. Finally, LRI Investments LLC raised its position in Ollie’s Bargain Outlet by 2,356.1% during the third quarter. LRI Investments LLC now owns 1,400 shares of the company’s stock valued at $130,000 after buying an additional 1,343 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.