Ollie’s Bargain Outlet (OLLI) Cut to “Hold” at BidaskClub

Ollie’s Bargain Outlet (NASDAQ:OLLI) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Other equities research analysts have also issued research reports about the stock. ValuEngine lowered shares of Ollie’s Bargain Outlet from a “strong-buy” rating to a “buy” rating in a research note on Thursday, December 6th. Bank of America restated a “buy” rating and issued a $87.00 price target (down previously from $98.00) on shares of Ollie’s Bargain Outlet in a research note on Wednesday, January 9th. Finally, Morgan Stanley dropped their price target on shares of Ollie’s Bargain Outlet from $82.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Monday, January 7th. Eight analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $88.73.

Shares of NASDAQ:OLLI opened at $80.63 on Wednesday. Ollie’s Bargain Outlet has a 52 week low of $54.70 and a 52 week high of $97.61. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of 64.50, a PEG ratio of 1.49 and a beta of 1.01. The company has a current ratio of 2.03, a quick ratio of 0.07 and a debt-to-equity ratio of 0.01.

In other news, COO John W. Swygert sold 3,149 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $79.98, for a total value of $251,857.02. Following the completion of the transaction, the chief operating officer now directly owns 33,699 shares in the company, valued at $2,695,246.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kenneth Robert Bertram sold 4,000 shares of the stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $85.42, for a total transaction of $341,680.00. Following the completion of the transaction, the vice president now owns 19,967 shares of the company’s stock, valued at $1,705,581.14. The disclosure for this sale can be found here. Insiders sold 143,149 shares of company stock valued at $11,534,070 over the last quarter. Insiders own 20.27% of the company’s stock.

A number of large investors have recently modified their holdings of OLLI. First Bank & Trust bought a new stake in Ollie’s Bargain Outlet during the fourth quarter worth approximately $32,000. Rehmann Capital Advisory Group boosted its holdings in Ollie’s Bargain Outlet by 796.7% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,883 shares of the company’s stock worth $125,000 after buying an additional 1,673 shares in the last quarter. Bank of Montreal Can boosted its holdings in Ollie’s Bargain Outlet by 11.8% during the fourth quarter. Bank of Montreal Can now owns 2,059 shares of the company’s stock worth $136,000 after buying an additional 218 shares in the last quarter. First Mercantile Trust Co. bought a new stake in Ollie’s Bargain Outlet during the fourth quarter worth approximately $147,000. Finally, Glenmede Trust Co. NA boosted its holdings in Ollie’s Bargain Outlet by 92.8% during the third quarter. Glenmede Trust Co. NA now owns 1,897 shares of the company’s stock worth $181,000 after buying an additional 913 shares in the last quarter. Hedge funds and other institutional investors own 89.54% of the company’s stock.

Ollie’s Bargain Outlet Company Profile

Ollie’s Bargain Outlet Holdings, Inc is a holding company, which engages in the retail of closeouts, excess inventory, and salvage merchandise. It offers overstocks, package changes, manufacturer refurbished goods, and irregulars. The company’s products include housewares, food, books and stationery, bed and bath, floor coverings, electronics and toys.

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Analyst Recommendations for Ollie`s Bargain Outlet (NASDAQ:OLLI)

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