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

Ollie’s Bargain Outlet (NASDAQ:OLLI) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

A number of other research analysts have also recently issued reports on OLLI. JPMorgan Chase & Co. boosted their price objective 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. Wells Fargo & Company raised their price objective 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. Bank of America boosted their price objective 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. Truist Financial raised their target price on shares of Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Piper Sandler upped their price target on shares of Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.62.

Ollie’s Bargain Outlet Trading Down 2.1 %

Shares of NASDAQ OLLI opened at $111.27 on Thursday. Ollie’s Bargain Outlet has a 1 year low of $68.05 and a 1 year high of $120.03. The firm’s 50-day moving average is $105.38 and its 200-day moving average is $98.94. The firm has a market capitalization of $6.82 billion, a PE ratio of 33.22, a price-to-earnings-growth ratio of 2.64 and a beta of 0.82.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $518.83 million. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $0.51 earnings per share. As a group, equities research analysts anticipate that Ollie’s Bargain Outlet will post 3.29 earnings per share for the current fiscal year.

Insider Activity

In other Ollie’s Bargain Outlet news, SVP James J. Comitale sold 5,325 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $113.95, for a total value of $606,783.75. Following the sale, the senior vice president now owns 3,140 shares in the company, valued at $357,803. This represents a 62.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John W. Swygert sold 4,800 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $102.60, for a total value of $492,480.00. Following the completion of the sale, the chief executive officer now owns 48,200 shares in the company, valued at approximately $4,945,320. This trade represents a 9.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,771 shares of company stock worth $9,650,832 in the last quarter. Corporate insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp boosted its holdings in shares of Ollie’s Bargain Outlet by 2.1% during the third quarter. State Street Corp now owns 1,871,047 shares of the company’s stock worth $181,866,000 after acquiring an additional 38,203 shares during the period. Geode Capital Management LLC grew its holdings in Ollie’s Bargain Outlet by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,078,544 shares of the company’s stock valued at $104,860,000 after buying an additional 9,492 shares in the last quarter. Geneva Capital Management LLC increased its position in Ollie’s Bargain Outlet by 1.3% during the 3rd quarter. Geneva Capital Management LLC now owns 1,050,469 shares of the company’s stock worth $102,106,000 after buying an additional 13,369 shares during the period. Fred Alger Management LLC lifted its holdings in shares of Ollie’s Bargain Outlet by 12.1% during the third 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of 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 valued at $73,256,000 after acquiring an additional 5,438 shares during the period.

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.