Royal Bank of Canada Forecasts Strong Price Appreciation for Ollie’s Bargain Outlet (NASDAQ:OLLI) Stock

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its target price hoisted by Royal Bank of Canada from $130.00 to $133.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 29.09% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. Citigroup upgraded shares of Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and increased their price target for the company from $64.00 to $133.00 in a research report on Wednesday, December 18th. Craig Hallum increased their target price on shares of Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Bank of America boosted their price target on shares of Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. raised their price objective on Ollie’s Bargain Outlet from $105.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company boosted their target price on Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the company 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 given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $118.29.

Ollie’s Bargain Outlet Trading Down 2.1 %

Shares of NASDAQ:OLLI opened at $103.03 on Friday. Ollie’s Bargain Outlet has a 1-year low of $68.05 and a 1-year high of $120.03. The stock has a market capitalization of $6.31 billion, a P/E ratio of 30.76, a P/E/G ratio of 2.21 and a beta of 0.83. The business has a 50-day moving average price of $105.99 and a two-hundred day moving average price of $100.97.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The business had revenue of $517.43 million during the quarter, compared to the consensus estimate of $518.83 million. During the same period in the previous year, the firm posted $0.51 earnings per share. Ollie’s Bargain Outlet’s revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities analysts predict that Ollie’s Bargain Outlet will post 3.29 EPS for the current year.

Insider Activity

In related news, CEO John W. Swygert sold 54,318 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $109.44, for a total transaction of $5,944,561.92. Following the sale, the chief executive officer now owns 48,200 shares in the company, valued at approximately $5,275,008. This represents a 52.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas Hendrickson sold 6,250 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were 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. Insiders have sold 76,539 shares of company stock worth $8,498,935 over the last ninety days. Insiders own 0.87% of the company’s stock.

Institutional Trading of Ollie’s Bargain Outlet

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. raised its holdings in shares of Ollie’s Bargain Outlet by 20.3% in the 4th quarter. Jefferies Financial Group Inc. now owns 3,628 shares of the company’s stock valued at $398,000 after purchasing an additional 611 shares during the period. ABLE Financial Group LLC grew its stake in Ollie’s Bargain Outlet by 34.3% in the 4th quarter. ABLE Financial Group LLC now owns 8,705 shares of the company’s stock valued at $955,000 after buying an additional 2,224 shares during the last quarter. Pullen Investment Management LLC increased its stake in shares of Ollie’s Bargain Outlet by 46.0% during the fourth quarter. Pullen Investment Management LLC now owns 6,217 shares of the company’s stock worth $682,000 after purchasing an additional 1,960 shares during the period. Putney Financial Group LLC bought a new position in Ollie’s Bargain Outlet during the 4th quarter worth $33,000. Finally, Castlekeep Investment Advisors LLC bought a new position in Ollie’s Bargain Outlet during the fourth quarter worth about $638,000.

Ollie’s Bargain Outlet Company Profile

Ollie’s Bargain Outlet Holdings, Inc is a holding company, which engages in the retail of closeouts, excess inventory, and salvage merchandise. It offers overstocks, package changes, manufacturer refurbished goods, and irregulars. The company’s products include housewares, food, books and stationery, bed and bath, floor coverings, electronics and toys.