Ollie’s Bargain Outlet (NASDAQ:OLLI) Shares Gap Up to $87.71

Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) gapped up prior to trading on Monday . The stock had previously closed at $87.71, but opened at $89.55. Ollie’s Bargain Outlet shares last traded at $89.82, with a volume of 51,830 shares.

Analyst Upgrades and Downgrades

OLLI has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of Ollie’s Bargain Outlet from $86.00 to $101.00 and gave the company an “outperform” rating in a research report on Thursday, June 6th. Loop Capital increased their price target on Ollie’s Bargain Outlet from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Craig Hallum lifted their price target on Ollie’s Bargain Outlet from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Wells Fargo & Company upped their price objective on Ollie’s Bargain Outlet from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, June 6th. Finally, UBS Group lifted their target price on Ollie’s Bargain Outlet from $95.00 to $97.00 and gave the stock a “neutral” rating in a research note on Thursday, June 6th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Ollie’s Bargain Outlet has an average rating of “Moderate Buy” and a consensus target price of $100.09.

Ollie’s Bargain Outlet Stock Performance

The firm has a market capitalization of $6.00 billion, a P/E ratio of 30.93, a PEG ratio of 2.35 and a beta of 0.82. The stock has a 50 day moving average of $77.98 and a 200-day moving average of $75.92.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings results on Wednesday, June 5th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.08. Ollie’s Bargain Outlet had a net margin of 9.14% and a return on equity of 13.22%. The company had revenue of $508.82 million for the quarter, compared to analyst estimates of $506.49 million. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, sell-side analysts expect that Ollie’s Bargain Outlet Holdings, Inc. will post 3.31 EPS for the current year.

Insider Transactions at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, SVP Kevin Mclain sold 11,340 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $85.75, for a total value of $972,405.00. Following the completion of the transaction, the senior vice president now owns 10,610 shares in the company, valued at approximately $909,807.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Kevin Mclain sold 11,340 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $85.75, for a total transaction of $972,405.00. Following the sale, the senior vice president now owns 10,610 shares of the company’s stock, valued at approximately $909,807.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Der Valk Eric Van sold 1,438 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $90.00, for a total transaction of $129,420.00. Following the completion of the sale, the president now owns 4,158 shares in the company, valued at $374,220. The disclosure for this sale can be found here. Insiders sold 50,055 shares of company stock valued at $4,083,045 over the last three months. Company insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors bought a new stake in shares of Ollie’s Bargain Outlet during the 1st quarter valued at about $136,978,000. Norges Bank purchased a new stake in Ollie’s Bargain Outlet in the fourth quarter valued at approximately $59,215,000. Wellington Management Group LLP raised its stake in Ollie’s Bargain Outlet by 141.5% in the third quarter. Wellington Management Group LLP now owns 1,075,882 shares of the company’s stock valued at $83,037,000 after purchasing an additional 630,298 shares in the last quarter. Invesco Ltd. lifted its position in Ollie’s Bargain Outlet by 76.1% during the third quarter. Invesco Ltd. now owns 831,522 shares of the company’s stock valued at $64,177,000 after purchasing an additional 359,371 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Ollie’s Bargain Outlet by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 5,882,908 shares of the company’s stock worth $468,103,000 after buying an additional 343,903 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.