Ollie’s Bargain Outlet (NASDAQ:OLLI) Upgraded by StockNews.com to “Hold” Rating

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

Several other analysts have also recently weighed in on OLLI. Gordon Haskett upgraded shares of Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and lifted their price target for the company from $105.00 to $107.00 in a report on Monday, August 26th. Craig Hallum upped their target price on shares of Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Piper Sandler boosted their price target on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. lifted their price target on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Loop Capital upped their target price on shares of Ollie’s Bargain Outlet from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $117.85.

Ollie’s Bargain Outlet Stock Up 2.7 %

OLLI stock opened at $117.63 on Thursday. Ollie’s Bargain Outlet has a twelve month low of $68.05 and a twelve month high of $118.95. The stock’s 50 day moving average is $97.49 and its 200-day moving average is $96.00. The firm has a market capitalization of $7.21 billion, a PE ratio of 35.11, a P/E/G ratio of 2.79 and a beta of 0.85.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. The firm had revenue of $517.43 million for the quarter, compared to analysts’ expectations of $518.83 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 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 earnings per share. On average, equities research analysts anticipate that Ollie’s Bargain Outlet will post 3.29 earnings per share for the current fiscal year.

Insider Activity at Ollie’s Bargain Outlet

In other news, CFO Robert F. Helm sold 2,401 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $94.68, for a total value of $227,326.68. Following the completion of the transaction, the chief financial officer now owns 2,021 shares in the company, valued at approximately $191,348.28. This trade represents a 54.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Hendrickson sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $114.74, for a total value of $717,125.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,651 shares of company stock worth $10,628,452. Company insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

Several hedge funds and other institutional investors have recently made changes to their positions in OLLI. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Ollie’s Bargain Outlet during the second quarter worth $362,000. Fifth Third Wealth Advisors LLC acquired a new stake in Ollie’s Bargain Outlet in the 2nd quarter worth approximately $189,000. Tributary Capital Management LLC raised its holdings in Ollie’s Bargain Outlet by 0.3% in the 2nd quarter. Tributary Capital Management LLC now owns 280,681 shares of the company’s stock worth $27,554,000 after acquiring an additional 702 shares during the period. Bailard Inc. bought a new stake in Ollie’s Bargain Outlet during the 2nd quarter valued at approximately $520,000. Finally, Mitsubishi UFJ Asset Management UK Ltd. raised its stake in Ollie’s Bargain Outlet by 17.4% during the 2nd quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 13,500 shares of the company’s stock valued at $1,325,000 after purchasing an additional 2,000 shares during the last quarter.

Ollie’s Bargain Outlet Company Profile

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.