Ollie’s Bargain Outlet (NASDAQ:OLLI) Upgraded at StockNews.com

StockNews.com upgraded shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) from a sell rating to a hold rating in a research note released on Tuesday.

A number of other equities analysts have also commented on OLLI. Morgan Stanley boosted their price objective on Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. UBS Group upped their price target on Ollie’s Bargain Outlet from $117.00 to $123.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. Jefferies Financial Group lowered Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and cut their price target for the company from $125.00 to $111.00 in a research note on Tuesday, February 4th. Royal Bank of Canada upped their price target on Ollie’s Bargain Outlet from $130.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, March 7th. Finally, Piper Sandler cut their price target on Ollie’s Bargain Outlet from $126.00 to $124.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $123.08.

Ollie’s Bargain Outlet Stock Performance

Ollie’s Bargain Outlet stock opened at $113.87 on Tuesday. The firm has a market cap of $6.99 billion, a P/E ratio of 33.99, a P/E/G ratio of 2.21 and a beta of 0.45. The business’s fifty day moving average is $109.26 and its two-hundred day moving average is $105.87. Ollie’s Bargain Outlet has a 52 week low of $72.19 and a 52 week high of $120.03.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.01). The business had revenue of $667.10 million during the quarter, compared to analyst estimates of $674.61 million. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. Ollie’s Bargain Outlet’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.23 EPS. On average, equities research analysts predict that Ollie’s Bargain Outlet will post 3.29 earnings per share for the current year.

Insider Activity at Ollie’s Bargain Outlet

In related news, Chairman John W. Swygert sold 6,526 shares of the company’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $107.87, for a total value of $703,959.62. Following the completion of the sale, the chairman now owns 53,432 shares in the company, valued at approximately $5,763,709.84. This represents a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Robert F. Helm sold 2,139 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $115.74, for a total value of $247,567.86. Following the completion of the sale, the chief financial officer now owns 2,961 shares of the company’s stock, valued at $342,706.14. This trade represents a 41.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,897 shares of company stock worth $4,227,970. 0.75% of the stock is owned by insiders.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Large investors have recently modified their holdings of the business. Corient Private Wealth LLC increased its holdings in shares of Ollie’s Bargain Outlet by 86.2% in the fourth quarter. Corient Private Wealth LLC now owns 8,438 shares of the company’s stock worth $926,000 after acquiring an additional 3,906 shares in the last quarter. Next Century Growth Investors LLC increased its holdings in shares of Ollie’s Bargain Outlet by 27.6% in the fourth quarter. Next Century Growth Investors LLC now owns 162,136 shares of the company’s stock worth $17,791,000 after acquiring an additional 35,075 shares in the last quarter. Caxton Associates LP bought a new stake in shares of Ollie’s Bargain Outlet in the fourth quarter worth about $438,000. Schonfeld Strategic Advisors LLC increased its holdings in shares of Ollie’s Bargain Outlet by 85.2% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 5,800 shares of the company’s stock worth $636,000 after acquiring an additional 2,668 shares in the last quarter. Finally, Oak Thistle LLC bought a new stake in shares of Ollie’s Bargain Outlet in the fourth quarter worth about $1,345,000.

About Ollie’s Bargain Outlet

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.