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

Ollie’s Bargain Outlet (NASDAQ:OLLI) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Several other research analysts also recently issued reports on the stock. Craig Hallum raised 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 report on Wednesday, December 11th. Piper Sandler raised their price target on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Citigroup raised Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and upped their price objective for the company from $64.00 to $133.00 in a research note on Wednesday, December 18th. Bank of America lifted their target price on 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. Finally, Wells Fargo & Company upped their price target on 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Ollie’s Bargain Outlet has an average rating of “Moderate Buy” and a consensus target price of $118.07.

Ollie’s Bargain Outlet Stock Performance

OLLI opened at $107.18 on Tuesday. The stock has a market capitalization of $6.57 billion, a P/E ratio of 31.99, a price-to-earnings-growth ratio of 2.76 and a beta of 0.81. Ollie’s Bargain Outlet has a one year low of $68.05 and a one year high of $120.03. The business’s 50-day simple moving average is $108.76 and its 200-day simple moving average is $99.63.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings data on Tuesday, December 10th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $517.43 million during 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 firm’s revenue for the quarter 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. On average, equities research analysts forecast that Ollie’s Bargain Outlet will post 3.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ollie’s Bargain Outlet news, CEO John W. Swygert sold 4,032 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $102.51, for a total value of $413,320.32. Following the sale, the chief executive officer now owns 48,200 shares of the company’s stock, valued at approximately $4,940,982. This represents a 7.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas Hendrickson sold 6,250 shares of Ollie’s Bargain Outlet stock in a transaction on Monday, December 16th. The stock was 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 three months, insiders have sold 87,771 shares of company stock worth $9,650,832. 0.87% of the stock is owned by company insiders.

Institutional Trading of Ollie’s Bargain Outlet

Several institutional investors and hedge funds have recently modified their holdings of OLLI. SRS Capital Advisors Inc. raised its position in shares of Ollie’s Bargain Outlet by 14.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,098 shares of the company’s stock worth $120,000 after purchasing an additional 138 shares during the last quarter. Norden Group LLC raised its holdings in shares of Ollie’s Bargain Outlet by 44.0% in the fourth quarter. Norden Group LLC now owns 24,868 shares of the company’s stock worth $2,729,000 after acquiring an additional 7,594 shares during the last quarter. US Bancorp DE lifted its position in shares of Ollie’s Bargain Outlet by 38.6% in the fourth quarter. US Bancorp DE now owns 41,608 shares of the company’s stock valued at $4,566,000 after acquiring an additional 11,587 shares in the last quarter. VELA Investment Management LLC boosted its stake in shares of Ollie’s Bargain Outlet by 36.6% during the fourth quarter. VELA Investment Management LLC now owns 13,642 shares of the company’s stock valued at $1,497,000 after acquiring an additional 3,658 shares during the last quarter. Finally, Versor Investments LP purchased a new stake in Ollie’s Bargain Outlet during the 4th quarter worth about $463,000.

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.