Ollie’s Bargain Outlet (NASDAQ:OLLI) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) from a sell rating to a hold rating in a research report sent to investors on Thursday.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler raised their target price on shares of Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Craig Hallum lifted their target price on shares of Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Loop Capital increased their price target on Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Wells Fargo & Company boosted their price objective on Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 11th. Finally, Truist Financial increased their target price on Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.62.

Ollie’s Bargain Outlet Price Performance

Shares of Ollie’s Bargain Outlet stock opened at $111.96 on Thursday. The stock has a market capitalization of $6.86 billion, a PE ratio of 33.42, a P/E/G ratio of 2.81 and a beta of 0.82. Ollie’s Bargain Outlet has a 1-year low of $68.05 and a 1-year high of $120.03. The company’s fifty day simple moving average is $105.76 and its 200-day simple moving average is $99.03.

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

Insider Activity

In other news, SVP Larry Kraus sold 10,646 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $115.58, for a total transaction of $1,230,464.68. Following the sale, the senior vice president now directly owns 1,905 shares in the company, valued at approximately $220,179.90. This represents a 84.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas Hendrickson sold 6,250 shares of Ollie’s Bargain Outlet stock in a transaction dated Monday, December 16th. The stock was 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. In the last ninety days, insiders sold 87,771 shares of company stock worth $9,650,832. 0.87% of the stock is currently owned by insiders.

Institutional Trading of Ollie’s Bargain Outlet

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp increased its position in 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 valued at $181,866,000 after acquiring an additional 38,203 shares during the last quarter. Geode Capital Management LLC grew its holdings in Ollie’s Bargain Outlet by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,078,544 shares of the company’s stock valued at $104,860,000 after purchasing an additional 9,492 shares during the last quarter. Geneva Capital Management LLC raised its position in Ollie’s Bargain Outlet by 1.3% in the 3rd quarter. Geneva Capital Management LLC now owns 1,050,469 shares of the company’s stock worth $102,106,000 after purchasing an additional 13,369 shares during the period. Fred Alger Management LLC lifted its stake in Ollie’s Bargain Outlet by 12.1% in the third quarter. Fred Alger Management LLC now owns 772,145 shares of the company’s stock worth $75,052,000 after purchasing an additional 83,063 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Ollie’s Bargain Outlet by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 753,658 shares of the company’s stock valued at $73,256,000 after buying an additional 5,438 shares during the period.

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.