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

Ollie’s Bargain Outlet (NASDAQ:OLLI) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

A number of other equities research analysts have also issued reports on OLLI. UBS Group increased their target price 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. Bank of America increased their price objective on shares of Ollie’s Bargain Outlet from $92.00 to $102.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. JPMorgan Chase & Co. reduced their target price on shares of Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Gordon Haskett raised shares of Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and raised their price target for the company from $105.00 to $107.00 in a report on Monday, August 26th. Finally, Wells Fargo & Company boosted their price objective on shares of Ollie’s Bargain Outlet from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, June 6th. Three analysts have rated the stock with a hold rating and ten have issued 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 price target of $103.33.

Ollie’s Bargain Outlet Price Performance

OLLI stock traded down $1.68 during midday trading on Friday, reaching $96.98. 1,208,654 shares of the company’s stock traded hands, compared to its average volume of 1,038,710. Ollie’s Bargain Outlet has a fifty-two week low of $68.05 and a fifty-two week high of $104.98. The business has a 50-day moving average price of $95.21 and a two-hundred day moving average price of $86.97. The company has a market capitalization of $5.94 billion, a P/E ratio of 30.59, a PEG ratio of 2.54 and a beta of 0.84.

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

Insider Activity at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, SVP Kevin Mclain sold 15,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $98.99, for a total transaction of $1,484,850.00. Following the completion of the sale, the senior vice president now owns 10,610 shares in the company, valued at $1,050,283.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Ollie’s Bargain Outlet news, SVP Kevin Mclain sold 15,000 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $98.99, for a total value of $1,484,850.00. Following the completion of the transaction, the senior vice president now directly owns 10,610 shares in the company, valued at $1,050,283.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Der Valk Eric Van sold 7,479 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $100.32, for a total value of $750,293.28. Following the transaction, the president now directly owns 5,615 shares of the company’s stock, valued at $563,296.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,632 shares of company stock valued at $2,459,421. Corporate insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Hedge funds have recently added to or reduced their stakes in the stock. Capital Research Global Investors acquired a new position in Ollie’s Bargain Outlet during the 1st quarter valued at about $136,978,000. D. E. Shaw & Co. Inc. increased its position in Ollie’s Bargain Outlet by 953.2% in 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 during the period. Los Angeles Capital Management LLC raised its stake 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 valued at $54,981,000 after acquiring an additional 372,914 shares in the last quarter. Vanguard Group Inc. boosted its position in Ollie’s Bargain Outlet by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 5,882,908 shares of the company’s stock worth $468,103,000 after acquiring an additional 343,903 shares during the period. Finally, Wasatch Advisors LP grew its stake in shares of Ollie’s Bargain Outlet by 5.2% in the fourth quarter. Wasatch Advisors LP now owns 3,761,480 shares of the company’s stock worth $285,459,000 after purchasing an additional 184,864 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.