Ollie’s Bargain Outlet’s (OLLI) Overweight Rating Reiterated at KeyCorp

Ollie’s Bargain Outlet (NASDAQ:OLLI)‘s stock had its “overweight” rating reissued by equities researchers at KeyCorp in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $135.00 price target on the stock. KeyCorp’s price target points to a potential upside of 22.83% from the company’s previous close.

Several other analysts have also weighed in on the stock. Jefferies Financial Group lowered shares of 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 report on Tuesday, February 4th. Wall Street Zen raised Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Morgan Stanley upped their price objective 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. Piper Sandler dropped their target price on Ollie’s Bargain Outlet from $126.00 to $124.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Finally, UBS Group boosted 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. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Ollie’s Bargain Outlet currently has a consensus rating of “Moderate Buy” and an average price target of $124.07.

Ollie’s Bargain Outlet Trading Down 1.8%

Shares of NASDAQ:OLLI opened at $109.91 on Wednesday. The firm has a market capitalization of $6.75 billion, a PE ratio of 32.81, a PEG ratio of 2.21 and a beta of 0.45. Ollie’s Bargain Outlet has a 1-year low of $81.15 and a 1-year high of $122.15. The business’s 50 day moving average is $111.57 and its 200-day moving average is $107.75.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results on Tuesday, June 3rd. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.70 by $0.05. The firm had revenue of $576.77 million during the quarter, compared to analysts’ expectations of $565.04 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 quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the business earned $0.73 earnings per share. On average, sell-side analysts predict that Ollie’s Bargain Outlet will post 3.29 EPS for the current year.

Insider Activity at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, Chairman John W. Swygert sold 6,526 shares of Ollie’s Bargain Outlet stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $107.87, for a total transaction of $703,959.62. Following the transaction, the chairman now directly owns 53,432 shares in the company, valued at approximately $5,763,709.84. The trade was a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Der Valk Eric Van sold 1,153 shares of the business’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $110.85, for a total value of $127,810.05. Following the completion of the transaction, the chief executive officer now directly owns 6,768 shares of the company’s stock, valued at approximately $750,232.80. The trade was a 14.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,897 shares of company stock worth $4,227,970 in the last ninety days. Company insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

A number of hedge funds have recently modified their holdings of OLLI. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Ollie’s Bargain Outlet by 489.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company’s stock worth $25,000 after purchasing an additional 191 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in shares of Ollie’s Bargain Outlet by 337.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company’s stock valued at $26,000 after buying an additional 182 shares during the period. Bogart Wealth LLC bought a new stake in shares of Ollie’s Bargain Outlet during the fourth quarter worth $26,000. HM Payson & Co. acquired a new stake in shares of Ollie’s Bargain Outlet during the first quarter worth $30,000. Finally, City Holding Co. bought a new stake in Ollie’s Bargain Outlet in the 1st quarter valued at $31,000.

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.