Ollie’s Bargain Outlet (NASDAQ:OLLI) Upgraded to Buy at Citigroup

Ollie’s Bargain Outlet (NASDAQ:OLLI) was upgraded by research analysts at Citigroup from a “sell” rating to a “buy” rating in a research note issued on Wednesday,Briefing.com Automated Import reports. The brokerage currently has a $133.00 target price on the stock, up from their previous target price of $64.00. Citigroup’s target price suggests a potential upside of 15.71% from the stock’s previous close.

A number of other equities analysts also recently weighed in on OLLI. Bank of America boosted their target price on shares of Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Royal Bank of Canada boosted their target price on Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Loop Capital raised their price target on Ollie’s Bargain Outlet from $110.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Gordon Haskett raised Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and boosted their price objective for the stock from $105.00 to $107.00 in a report on Monday, August 26th. Finally, Craig Hallum raised 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $117.85.

Ollie’s Bargain Outlet Trading Up 0.5 %

Shares of Ollie’s Bargain Outlet stock opened at $114.94 on Wednesday. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 34.31, a P/E/G ratio of 2.79 and a beta of 0.85. Ollie’s Bargain Outlet has a 1-year low of $68.05 and a 1-year high of $116.63. The firm’s 50-day moving average price is $96.68 and its two-hundred day moving average price is $95.65.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings data on Tuesday, December 10th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $517.43 million for the quarter, compared to analyst estimates of $518.83 million. During the same quarter in the previous year, the firm earned $0.51 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts predict that Ollie’s Bargain Outlet will post 3.29 EPS for the current year.

Insider Transactions at Ollie’s Bargain Outlet

In other news, CFO Robert F. Helm sold 2,401 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $94.68, for a total value of $227,326.68. Following the sale, the chief financial officer now directly owns 2,021 shares in the company, valued at $191,348.28. This trade represents a 54.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John W. Swygert sold 54,318 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $109.44, for a total transaction of $5,944,561.92. Following the completion of the transaction, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at approximately $5,275,008. This trade represents a 52.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 80,755 shares of company stock valued at $8,680,862 over the last 90 days. 0.87% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC acquired a new position in Ollie’s Bargain Outlet during the second quarter worth $362,000. Envestnet Portfolio Solutions Inc. lifted its stake in Ollie’s Bargain Outlet by 31.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,208 shares of the company’s stock valued at $511,000 after purchasing an additional 1,254 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new position in Ollie’s Bargain Outlet during the second quarter worth about $189,000. Tributary Capital Management LLC increased its position in Ollie’s Bargain Outlet by 0.3% during the second quarter. Tributary Capital Management LLC now owns 280,681 shares of the company’s stock worth $27,554,000 after buying an additional 702 shares during the last quarter. Finally, Bailard Inc. bought a new stake in Ollie’s Bargain Outlet in the second quarter valued at approximately $520,000.

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.