Ollie’s Bargain Outlet (NASDAQ:OLLI) Raised to “Hold” at StockNews.com

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

OLLI has been the subject of several other research reports. Wells Fargo & Company increased their target price on shares of Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 11th. Bank of America increased their price target on Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their price objective on shares of Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Loop Capital raised their target price on shares of Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Finally, Piper Sandler boosted their price target on shares of Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.62.

Ollie’s Bargain Outlet Stock Performance

Ollie’s Bargain Outlet stock opened at $112.91 on Thursday. The company has a market capitalization of $6.92 billion, a P/E ratio of 33.70, a PEG ratio of 2.75 and a beta of 0.82. Ollie’s Bargain Outlet has a fifty-two week low of $68.05 and a fifty-two week high of $120.03. The stock has a 50-day simple moving average of $106.18 and a 200-day simple moving average of $99.12.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings data 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. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The business had revenue of $517.43 million during the quarter, compared to the consensus estimate of $518.83 million. During the same period in the prior year, the company earned $0.51 earnings per share. The company’s revenue was up 7.8% compared to the same quarter last year. As a group, analysts forecast that Ollie’s Bargain Outlet will post 3.29 earnings per share for the current year.

Insider Activity at Ollie’s Bargain Outlet

In related news, CEO John W. Swygert sold 4,800 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $102.60, for a total transaction of $492,480.00. Following the completion of the transaction, the chief executive officer now directly owns 48,200 shares in the company, valued at $4,945,320. The trade was a 9.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP James J. Comitale sold 5,325 shares of the firm’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $113.95, for a total value of $606,783.75. Following the transaction, the senior vice president now directly owns 3,140 shares of the company’s stock, valued at $357,803. The trade was a 62.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,771 shares of company stock valued at $9,650,832 in the last ninety days. Corporate insiders own 0.87% of the company’s stock.

Institutional Trading of Ollie’s Bargain Outlet

A number of large investors have recently made changes to their positions in the stock. Royce & Associates LP raised its position in shares of Ollie’s Bargain Outlet by 161.6% in the third quarter. Royce & Associates LP now owns 75,605 shares of the company’s stock valued at $7,349,000 after buying an additional 46,706 shares during the last quarter. Oak Thistle LLC purchased a new stake in Ollie’s Bargain Outlet in the 4th quarter worth approximately $1,345,000. JPMorgan Chase & Co. raised its holdings in Ollie’s Bargain Outlet by 79.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 189,301 shares of the company’s stock valued at $18,400,000 after acquiring an additional 83,882 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Ollie’s Bargain Outlet by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 753,658 shares of the company’s stock worth $73,256,000 after purchasing an additional 5,438 shares during the period. Finally, Fred Alger Management LLC boosted its holdings in shares of Ollie’s Bargain Outlet by 12.1% during the third quarter. Fred Alger Management LLC now owns 772,145 shares of the company’s stock worth $75,052,000 after purchasing an additional 83,063 shares during the last quarter.

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.