Royal Bank of Canada Increases Ollie’s Bargain Outlet (NASDAQ:OLLI) Price Target to $130.00

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price objective boosted by Royal Bank of Canada from $120.00 to $130.00 in a report issued on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other equities research analysts have also issued reports on OLLI. Wells Fargo & Company lowered Ollie’s Bargain Outlet from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $100.00 to $95.00 in a research report on Tuesday, December 3rd. StockNews.com downgraded shares of Ollie’s Bargain Outlet from a “hold” rating to a “sell” rating in a research report on Tuesday, October 22nd. Gordon Haskett raised shares of Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and boosted their price objective for the company from $105.00 to $107.00 in a research report on Monday, August 26th. 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. Finally, Piper Sandler upped their target price on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Ollie’s Bargain Outlet presently has a consensus rating of “Moderate Buy” and an average price target of $116.58.

Ollie’s Bargain Outlet Price Performance

OLLI opened at $112.77 on Wednesday. The stock has a market capitalization of $6.91 billion, a PE ratio of 33.66, a P/E/G ratio of 2.81 and a beta of 0.85. Ollie’s Bargain Outlet has a 12-month low of $68.05 and a 12-month high of $115.98. The firm’s fifty day moving average price is $96.26 and its 200 day moving average price is $95.19.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. The business 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 company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.51 earnings per share. On average, equities research analysts forecast that Ollie’s Bargain Outlet will post 3.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Ollie’s Bargain Outlet news, SVP James J. Comitale sold 5,325 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $113.95, for a total transaction of $606,783.75. Following the sale, the senior vice president now directly owns 3,140 shares in the company, valued at approximately $357,803. The trade was a 62.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kevin Mclain sold 15,000 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 10,610 shares of the company’s stock, valued at $1,050,283.90. This trade represents a 58.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,755 shares of company stock worth $10,165,712. 0.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. increased its position in shares of 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 purchasing an additional 512,928 shares during the period. Holocene Advisors LP grew its holdings in Ollie’s Bargain Outlet by 10,159.3% during the third quarter. Holocene Advisors LP now owns 471,413 shares of the company’s stock worth $45,821,000 after acquiring an additional 466,818 shares during the period. Los Angeles Capital Management LLC raised its position in Ollie’s Bargain Outlet by 199.3% in the second 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 in the last quarter. Wellington Management Group LLP lifted its holdings in Ollie’s Bargain Outlet by 155.8% in the 3rd quarter. Wellington Management Group LLP now owns 483,044 shares of the company’s stock valued at $46,952,000 after acquiring an additional 294,217 shares during the last quarter. Finally, Loomis Sayles & Co. L P bought a new position in shares of Ollie’s Bargain Outlet during the 3rd quarter valued at about $16,590,000.

Ollie’s Bargain Outlet Company Profile

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.