Truist Financial Reiterates “Buy” Rating for Ollie’s Bargain Outlet (NASDAQ:OLLI)

Ollie’s Bargain Outlet (NASDAQ:OLLI)‘s stock had its “buy” rating reiterated by investment analysts at Truist Financial in a report issued on Monday, Benzinga reports. They currently have a $102.00 price objective on the stock. Truist Financial’s price objective indicates a potential upside of 4.59% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Morgan Stanley lifted their price objective on Ollie’s Bargain Outlet from $80.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 6th. JPMorgan Chase & Co. upgraded Ollie’s Bargain Outlet from a “neutral” rating to an “overweight” rating and set a $105.00 price objective on the stock in a research report on Monday, June 17th. Craig Hallum lifted their price objective on Ollie’s Bargain Outlet from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. UBS Group lifted their price objective on Ollie’s Bargain Outlet from $95.00 to $97.00 and gave the stock a “neutral” rating in a research report on Thursday, June 6th. Finally, Wells Fargo & Company raised their target price on Ollie’s Bargain Outlet from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, June 6th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $101.50.

Ollie’s Bargain Outlet Stock Down 0.7 %

Shares of NASDAQ OLLI traded down $0.65 during midday trading on Monday, hitting $97.52. The stock had a trading volume of 403,544 shares, compared to its average volume of 999,101. The company has a market capitalization of $5.97 billion, a PE ratio of 30.77, a P/E/G ratio of 2.67 and a beta of 0.90. The stock has a 50 day simple moving average of $82.11 and a 200-day simple moving average of $77.26. Ollie’s Bargain Outlet has a 1 year low of $57.96 and a 1 year high of $100.44.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its earnings results on Wednesday, June 5th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. The business had revenue of $508.82 million for the quarter, compared to the consensus estimate of $506.49 million. Ollie’s Bargain Outlet had a return on equity of 13.22% and a net margin of 9.14%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 earnings per share. As a group, analysts expect that Ollie’s Bargain Outlet will post 3.26 earnings per share for the current fiscal year.

Insider Activity

In other news, President Der Valk Eric Van sold 1,438 shares of Ollie’s Bargain Outlet stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total value of $129,420.00. Following the completion of the sale, the president now directly owns 4,158 shares of the company’s stock, valued at $374,220. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, President Der Valk Eric Van sold 1,438 shares of Ollie’s Bargain Outlet stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total value of $129,420.00. Following the completion of the sale, the president now directly owns 4,158 shares of the company’s stock, valued at $374,220. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John W. Swygert sold 14,736 shares of Ollie’s Bargain Outlet stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $86.81, for a total value of $1,279,232.16. Following the completion of the transaction, the chief executive officer now owns 48,200 shares of the company’s stock, valued at $4,184,242. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,384 shares of company stock valued at $3,211,937. 0.87% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OLLI. Venturi Wealth Management LLC boosted its holdings in Ollie’s Bargain Outlet by 194.3% in the first quarter. Venturi Wealth Management LLC now owns 309 shares of the company’s stock valued at $25,000 after purchasing an additional 204 shares during the period. ORG Partners LLC purchased a new stake in Ollie’s Bargain Outlet during the 1st quarter worth about $28,000. Blue Bell Private Wealth Management LLC purchased a new stake in Ollie’s Bargain Outlet during the 1st quarter worth about $29,000. YHB Investment Advisors Inc. purchased a new stake in shares of Ollie’s Bargain Outlet in the 1st quarter valued at about $48,000. Finally, Partnership Wealth Management LLC purchased a new stake in shares of Ollie’s Bargain Outlet in the 4th quarter valued at about $68,000.

About Ollie’s Bargain Outlet

Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise in the United States. The company offers housewares, bed and bath, food, floor coverings, health and beauty aids, books and stationery, toys, and electronics; and other products, including hardware, candy, clothing, sporting goods, pet and lawn, and garden products.