Ollie’s Bargain Outlet (NASDAQ:OLLI) Downgraded by StockNews.com to Sell

Ollie’s Bargain Outlet (NASDAQ:OLLI) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

OLLI has been the subject of a number of other reports. Royal Bank of Canada reissued an “outperform” rating and issued a $130.00 price target on shares of Ollie’s Bargain Outlet in a report on Monday, December 23rd. Bank of America increased their target price on shares of Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Truist Financial lifted their price target on shares of Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. JPMorgan Chase & Co. upped their price target on 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, Piper Sandler boosted their target price on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Ollie’s Bargain Outlet presently has an average rating of “Moderate Buy” and an average target price of $118.62.

Ollie’s Bargain Outlet Stock Performance

Shares of OLLI stock traded down $2.63 during midday trading on Wednesday, reaching $97.00. 1,470,672 shares of the company were exchanged, compared to its average volume of 1,157,572. Ollie’s Bargain Outlet has a 12 month low of $68.05 and a 12 month high of $120.03. The company has a market cap of $5.94 billion, a P/E ratio of 28.96, a PEG ratio of 2.79 and a beta of 0.82. The company’s 50 day moving average price is $104.10 and its two-hundred day moving average price is $98.57.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The firm had revenue of $517.43 million during the quarter, compared to analyst estimates of $518.83 million. During the same period last year, the company posted $0.51 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts predict that Ollie’s Bargain Outlet will post 3.29 earnings per share for the current year.

Insider Buying and Selling at Ollie’s Bargain Outlet

In other news, Director Thomas Hendrickson sold 6,250 shares of Ollie’s Bargain Outlet stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $114.74, for a total transaction of $717,125.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert F. Helm sold 2,401 shares of the 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 $191,348.28. This represents a 54.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,172 shares of company stock valued at $9,878,158 in the last quarter. Company insiders own 0.87% of the company’s stock.

Institutional Trading of Ollie’s Bargain Outlet

Several large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its holdings in shares of Ollie’s Bargain Outlet by 37.9% during the 3rd quarter. GAMMA Investing LLC now owns 651 shares of the company’s stock valued at $63,000 after purchasing an additional 179 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in Ollie’s Bargain Outlet during the fourth quarter valued at about $79,000. Northwest & Ethical Investments L.P. bought a new position in Ollie’s Bargain Outlet during the third quarter valued at about $117,000. LRI Investments LLC lifted its position in shares of Ollie’s Bargain Outlet by 2,356.1% in the third quarter. LRI Investments LLC now owns 1,400 shares of the company’s stock worth $130,000 after buying an additional 1,343 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Ollie’s Bargain Outlet during the 3rd quarter worth about $151,000.

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.