Ollie’s Bargain Outlet (NASDAQ:OLLI) Rating Increased to Hold at StockNews.com

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

Several other analysts also recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $130.00 price objective on shares of Ollie’s Bargain Outlet in a report on Monday, December 23rd. JPMorgan Chase & Co. boosted 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. Loop Capital increased their price objective on shares of Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Craig Hallum boosted their price objective on shares of Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Bank of America increased their target price on Ollie’s Bargain Outlet from $115.00 to $130.00 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.62.

Ollie’s Bargain Outlet Price Performance

Ollie’s Bargain Outlet stock opened at $111.96 on Thursday. The stock has a market cap of $6.86 billion, a price-to-earnings ratio of 33.42, a price-to-earnings-growth ratio of 2.81 and a beta of 0.82. The firm has a 50-day moving average of $105.76 and a two-hundred day moving average of $99.03. Ollie’s Bargain Outlet has a 1 year low of $68.05 and a 1 year high of $120.03.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced 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. The firm had revenue of $517.43 million during the quarter, compared to analyst estimates of $518.83 million. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. Ollie’s Bargain Outlet’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 earnings per share. Research analysts expect that Ollie’s Bargain Outlet will post 3.29 earnings per share for the current year.

Insider Activity at Ollie’s Bargain Outlet

In other news, CEO John W. Swygert sold 4,032 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $102.51, for a total transaction of $413,320.32. Following the transaction, the chief executive officer now owns 48,200 shares in the company, valued at $4,940,982. This represents a 7.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP James J. Comitale sold 5,325 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $113.95, for a total transaction of $606,783.75. Following the completion of the sale, the senior vice president now owns 3,140 shares of the company’s stock, valued at $357,803. This trade represents a 62.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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 Investors Weigh In On Ollie’s Bargain Outlet

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