Loop Capital Reiterates “Buy” Rating for Ollie’s Bargain Outlet (NASDAQ:OLLI)

Ollie’s Bargain Outlet (NASDAQ:OLLI)‘s stock had its “buy” rating reissued by equities researchers at Loop Capital in a report issued on Friday, Benzinga reports. They currently have a $110.00 target price on the stock. Loop Capital’s price objective points to a potential upside of 13.25% from the stock’s current price.

Several other equities research analysts have also commented on the stock. UBS Group boosted their price objective on shares of Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Wells Fargo & Company lifted their price objective on Ollie’s Bargain Outlet from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, June 6th. Piper Sandler reiterated an “overweight” rating and set a $107.00 target price on shares of Ollie’s Bargain Outlet in a report on Friday, August 30th. Morgan Stanley boosted their price target on Ollie’s Bargain Outlet from $80.00 to $92.00 and gave the stock an “equal weight” rating in a report on Thursday, June 6th. Finally, Royal Bank of Canada decreased their price target on shares of Ollie’s Bargain Outlet from $101.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $103.33.

Ollie’s Bargain Outlet Trading Down 0.7 %

Shares of NASDAQ:OLLI traded down $0.68 on Friday, reaching $97.13. 65,741 shares of the company were exchanged, compared to its average volume of 1,034,590. Ollie’s Bargain Outlet has a 1-year low of $68.05 and a 1-year high of $104.98. The company has a 50-day moving average of $95.47 and a 200-day moving average of $85.96. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of 30.64, a price-to-earnings-growth ratio of 2.45 and a beta of 0.84.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results on Thursday, August 29th. The company reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78. The company had revenue of $578.38 million during the quarter, compared to analysts’ expectations of $561.60 million. Ollie’s Bargain Outlet had a net margin of 9.19% and a return on equity of 13.27%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the company posted $0.67 earnings per share. As a group, analysts forecast that Ollie’s Bargain Outlet will post 3.28 earnings per share for the current year.

Insider Activity

In other news, SVP James J. Comitale sold 2,153 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $104.17, for a total transaction of $224,278.01. Following the transaction, the senior vice president now owns 2,732 shares of the company’s stock, valued at $284,592.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Kevin Mclain sold 15,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $98.99, for a total value of $1,484,850.00. Following the transaction, the senior vice president now directly owns 10,610 shares in the company, valued at approximately $1,050,283.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP James J. Comitale sold 2,153 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $104.17, for a total transaction of $224,278.01. Following the sale, the senior vice president now directly owns 2,732 shares of the company’s stock, valued at approximately $284,592.44. The disclosure for this sale can be found here. Company insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

Several institutional investors have recently made changes to their positions in OLLI. Capital Research Global Investors acquired a new stake in shares of Ollie’s Bargain Outlet in the first quarter valued at approximately $136,978,000. Norges Bank acquired a new stake in Ollie’s Bargain Outlet in the 4th quarter valued at approximately $59,215,000. D. E. Shaw & Co. Inc. raised its stake in Ollie’s Bargain Outlet by 953.2% during the 2nd 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. Los Angeles Capital Management LLC boosted its position in Ollie’s Bargain Outlet by 199.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 560,054 shares of the company’s stock worth $54,981,000 after acquiring an additional 372,914 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Ollie’s Bargain Outlet by 6.2% in the first quarter. Vanguard Group Inc. now owns 5,882,908 shares of the company’s stock worth $468,103,000 after purchasing an additional 343,903 shares in 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.