Ollie’s Bargain Outlet (NASDAQ:OLLI) Stock Rating Upgraded by Citigroup

Ollie’s Bargain Outlet (NASDAQ:OLLI) was upgraded by stock analysts at Citigroup from a “sell” rating to a “buy” rating in a report issued on Wednesday,Briefing.com Automated Import reports. The brokerage currently has a $133.00 price objective on the stock, up from their previous price objective of $64.00. Citigroup’s target price points to a potential upside of 15.71% from the stock’s current price.

Several other research firms have also recently weighed in on OLLI. Wells Fargo & Company upped their price objective on shares of Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 11th. Piper Sandler upped 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 report on Wednesday, December 11th. Truist Financial lifted their price objective on shares of Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. StockNews.com cut Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research note on Tuesday, October 22nd. Finally, UBS Group lifted their price target on Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Ollie’s Bargain Outlet currently has an average rating of “Moderate Buy” and a consensus target price of $117.85.

Ollie’s Bargain Outlet Stock Up 0.5 %

Ollie’s Bargain Outlet stock opened at $114.94 on Wednesday. The company’s 50-day moving average price is $96.68 and its two-hundred day moving average price is $95.65. The stock has a market cap of $7.04 billion, a P/E ratio of 34.31, a P/E/G ratio of 2.79 and a beta of 0.85. Ollie’s Bargain Outlet has a twelve month low of $68.05 and a twelve month high of $116.63.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share for the quarter, topping 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 company had revenue of $517.43 million for the quarter, compared to analyst estimates of $518.83 million. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. Equities analysts anticipate that Ollie’s Bargain Outlet will post 3.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO John W. Swygert sold 54,318 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $109.44, for a total value of $5,944,561.92. Following the transaction, the chief executive officer now owns 48,200 shares in the company, valued at approximately $5,275,008. The trade was a 52.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert F. Helm sold 2,401 shares of the business’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $94.68, for a total transaction 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. The trade was a 54.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 80,755 shares of company stock worth $8,680,862 in the last ninety days. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

A number of large investors have recently bought and sold shares of the stock. Royce & Associates LP boosted its position in shares of Ollie’s Bargain Outlet by 161.6% during the 3rd quarter. Royce & Associates LP now owns 75,605 shares of the company’s stock worth $7,349,000 after purchasing an additional 46,706 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Ollie’s Bargain Outlet by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 753,658 shares of the company’s stock worth $73,256,000 after acquiring an additional 5,438 shares in the last quarter. Fred Alger Management LLC grew its stake in Ollie’s Bargain Outlet by 12.1% in the third quarter. Fred Alger Management LLC now owns 772,145 shares of the company’s stock valued at $75,052,000 after acquiring an additional 83,063 shares during the period. Hancock Whitney Corp acquired a new stake in Ollie’s Bargain Outlet in the third quarter valued at approximately $988,000. Finally, D. E. Shaw & Co. Inc. increased its holdings in shares of Ollie’s Bargain Outlet by 953.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 566,738 shares of the company’s stock valued at $55,637,000 after acquiring an additional 512,928 shares in 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.