Ollie’s Bargain Outlet (NASDAQ:OLLI) Price Target Raised to $137.00 at JPMorgan Chase & Co.

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $135.00 to $137.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 14.04% from the stock’s previous close.

A number of other research analysts have also recently issued reports on OLLI. Piper Sandler reduced their price objective 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. Morgan Stanley lifted their target price on Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the company an “equal weight” rating in a research note on Thursday, March 20th. UBS Group lifted their target price 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. StockNews.com raised Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Finally, Jefferies Financial Group downgraded Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and decreased their target price for the company from $125.00 to $111.00 in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Ollie’s Bargain Outlet currently has a consensus rating of “Moderate Buy” and an average target price of $123.23.

Ollie’s Bargain Outlet Price Performance

Shares of NASDAQ OLLI traded up $1.28 during mid-day trading on Monday, reaching $120.14. 275,398 shares of the company’s stock were exchanged, compared to its average volume of 1,164,278. Ollie’s Bargain Outlet has a 52 week low of $72.22 and a 52 week high of $120.10. The firm has a 50-day moving average price of $109.61 and a two-hundred day moving average price of $106.28. The firm has a market capitalization of $7.38 billion, a price-to-earnings ratio of 35.79, a price-to-earnings-growth ratio of 2.21 and a beta of 0.45.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its earnings results on Wednesday, March 19th. The company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.01). The company had revenue of $667.10 million for the quarter, compared to analysts’ expectations of $674.61 million. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.23 EPS. As a group, sell-side analysts forecast that Ollie’s Bargain Outlet will post 3.29 EPS for the current fiscal year.

Insider Activity

In related news, Chairman John W. Swygert sold 6,526 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Wednesday, March 26th. The shares were 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 trade represents a 10.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert F. Helm sold 312 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $107.17, for a total transaction of $33,437.04. Following the completion of the sale, the chief financial officer now owns 3,273 shares of the company’s stock, valued at $350,767.41. This trade represents a 8.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,897 shares of company stock valued at $4,227,970 over the last ninety days. 0.75% of the stock is currently owned by insiders.

Institutional Trading of Ollie’s Bargain Outlet

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Ollie’s Bargain Outlet by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 5,821,957 shares of the company’s stock worth $638,843,000 after acquiring an additional 70,496 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Ollie’s Bargain Outlet by 173.8% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company’s stock valued at $509,671,000 after acquiring an additional 2,948,393 shares in the last quarter. Congress Asset Management Co. raised its stake in shares of Ollie’s Bargain Outlet by 181.6% in the fourth quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company’s stock valued at $210,307,000 after acquiring an additional 1,235,994 shares in the last quarter. Invesco Ltd. raised its stake in shares of Ollie’s Bargain Outlet by 1.1% in the fourth quarter. Invesco Ltd. now owns 1,645,472 shares of the company’s stock valued at $180,558,000 after acquiring an additional 17,302 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Ollie’s Bargain Outlet by 12.9% in the fourth quarter. Alliancebernstein L.P. now owns 1,629,572 shares of the company’s stock valued at $178,813,000 after acquiring an additional 186,313 shares in the last quarter.

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.