BidaskClub downgraded shares of Ollie's Bargain Outlet (NASDAQ:OLLI) from a strong-buy rating to a buy rating in a research report released on Saturday morning.
Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. boosted their price objective on Ollie's Bargain Outlet from $47.00 to $61.00 in a research report on Thursday, December 7th. KeyCorp reiterated a buy rating and issued a $55.00 price objective (up previously from $50.00) on shares of Ollie's Bargain Outlet in a research report on Thursday, December 7th. Zacks Investment Research upgraded Ollie's Bargain Outlet from a hold rating to a buy rating and set a $57.00 price objective for the company in a research report on Thursday, December 7th. Jefferies Group boosted their price objective on Ollie's Bargain Outlet to $57.00 and gave the company a buy rating in a research report on Tuesday, December 5th. Finally, Piper Jaffray Companies reiterated a buy rating and issued a $71.00 price objective on shares of Ollie's Bargain Outlet in a research report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. Ollie's Bargain Outlet presently has a consensus rating of Hold and an average target price of $51.54.
Shares of Ollie's Bargain Outlet (NASDAQ:OLLI) traded up $0.95 during mid-day trading on Friday, reaching $59.65. The company’s stock had a trading volume of 470,033 shares, compared to its average volume of 423,444. The company has a quick ratio of 0.36, a current ratio of 2.53 and a debt-to-equity ratio of 0.16. Ollie's Bargain Outlet has a 12-month low of $31.00 and a 12-month high of $62.05. The company has a market capitalization of $3,677.84, a P/E ratio of 52.79, a P/E/G ratio of 1.53 and a beta of 0.11.
In related news, CFO John W. Swygert sold 60,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $52.20, for a total value of $3,132,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Howard Freedman sold 8,300 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $59.08, for a total value of $490,364.00. Following the completion of the sale, the vice president now directly owns 34,670 shares in the company, valued at $2,048,303.60. The disclosure for this sale can be found here. Insiders have sold 101,742 shares of company stock worth $5,495,118 over the last three months. Insiders own 22.25% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Ollie's Bargain Outlet by 50.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,972 shares of the company’s stock worth $158,000 after purchasing an additional 992 shares during the period. Royal Bank of Canada grew its stake in Ollie's Bargain Outlet by 302.7% in the second quarter. Royal Bank of Canada now owns 4,257 shares of the company’s stock worth $182,000 after purchasing an additional 3,200 shares during the period. Navellier & Associates Inc purchased a new stake in Ollie's Bargain Outlet in the fourth quarter worth $201,000. First Heartland Consultants Inc. purchased a new stake in Ollie's Bargain Outlet in the third quarter worth $207,000. Finally, Shelton Capital Management purchased a new stake in Ollie's Bargain Outlet in the third quarter worth $213,000. 91.36% of the stock is currently owned by institutional investors.
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Ollie's Bargain Outlet Company Profile
Ollie’s Bargain Outlet Holdings, Inc is a retailer of brand name merchandise. The Company offers customers a selection of brand name products, including food, housewares, books and stationery, bed and bath, floor coverings, electronics and toys. Its warehouse format stores feature a range of products, including hardware, personal healthcare, candy, clothing, sporting goods, pet and lawn and garden products.
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