Truist Financial Forecasts Strong Price Appreciation for Ollie’s Bargain Outlet (NASDAQ:OLLI) Stock

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price objective lifted by research analysts at Truist Financial from $109.00 to $121.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective indicates a potential upside of 8.99% from the company’s previous close.

A number of other equities analysts have also recently commented on OLLI. UBS Group boosted their price target on shares of Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. cut their target price on shares of Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Loop Capital reissued a “buy” rating and issued a $110.00 target price on shares of Ollie’s Bargain Outlet in a research note on Friday, September 20th. Wells Fargo & Company lowered Ollie’s Bargain Outlet from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $100.00 to $95.00 in a research note on Tuesday, December 3rd. Finally, Bank of America increased their price objective on Ollie’s Bargain Outlet from $102.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Ollie’s Bargain Outlet has an average rating of “Moderate Buy” and an average price target of $107.08.

Ollie’s Bargain Outlet Stock Performance

Shares of OLLI stock opened at $111.02 on Wednesday. Ollie’s Bargain Outlet has a 52-week low of $68.05 and a 52-week high of $113.76. The business’s fifty day moving average is $95.30 and its 200 day moving average is $94.70. The company has a market capitalization of $6.81 billion, a PE ratio of 33.85, a price-to-earnings-growth ratio of 2.53 and a beta of 0.85.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.01. Ollie’s Bargain Outlet had a return on equity of 13.27% and a net margin of 9.19%. The firm had revenue of $517.43 million for the quarter, compared to analysts’ expectations of $518.83 million. During the same quarter last year, the firm posted $0.51 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts forecast that Ollie’s Bargain Outlet will post 3.27 EPS 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 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 of the company’s stock, valued at $1,050,283.90. This represents a 58.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John W. Swygert sold 4,032 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $102.51, for a total transaction of $413,320.32. Following the completion of the sale, the chief executive officer now directly owns 48,200 shares in the company, valued at approximately $4,940,982. This trade represents a 7.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 36,112 shares of company stock worth $3,614,366 in the last ninety days. 0.87% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Signaturefd LLC increased its stake in shares of Ollie’s Bargain Outlet by 6.4% during the second quarter. Signaturefd LLC now owns 1,727 shares of the company’s stock valued at $170,000 after buying an additional 104 shares during the period. Trust Point Inc. boosted its holdings in Ollie’s Bargain Outlet by 1.0% in the third quarter. Trust Point Inc. now owns 13,184 shares of the company’s stock valued at $1,281,000 after acquiring an additional 134 shares in the last quarter. FORA Capital LLC increased its position in Ollie’s Bargain Outlet by 3.2% during the 3rd quarter. FORA Capital LLC now owns 4,800 shares of the company’s stock valued at $467,000 after purchasing an additional 148 shares during the period. GAMMA Investing LLC increased its position in Ollie’s Bargain Outlet by 37.9% during the 3rd quarter. GAMMA Investing LLC now owns 651 shares of the company’s stock valued at $63,000 after purchasing an additional 179 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in Ollie’s Bargain Outlet by 5.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,544 shares of the company’s stock worth $344,000 after purchasing an additional 188 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.