Royal Bank of Canada Increases Ollie’s Bargain Outlet (NASDAQ:OLLI) Price Target to $106.00

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price target raised by research analysts at Royal Bank of Canada from $100.00 to $106.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 10.83% from the company’s previous close.

A number of other equities analysts have also weighed in on OLLI. Bank of America boosted their price target on shares of Ollie’s Bargain Outlet from $102.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday. Piper Sandler restated an “overweight” rating and set a $107.00 price target on shares of Ollie’s Bargain Outlet in a research report on Friday, August 30th. Gordon Haskett upgraded shares of Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and boosted their price target for the stock from $105.00 to $107.00 in a research report on Monday, August 26th. Wells Fargo & Company boosted their price target on shares of Ollie’s Bargain Outlet from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, June 6th. Finally, StockNews.com upgraded shares of Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a research report on Friday, September 27th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Ollie’s Bargain Outlet presently has a consensus rating of “Moderate Buy” and an average target price of $104.92.

Ollie’s Bargain Outlet Stock Performance

Shares of OLLI stock traded up $0.14 on Wednesday, reaching $95.64. 202,962 shares of the company were exchanged, compared to its average volume of 1,032,029. The company has a market cap of $5.85 billion, a price-to-earnings ratio of 30.17, a P/E/G ratio of 2.55 and a beta of 0.84. The business has a 50-day moving average price of $95.17 and a 200 day moving average price of $87.31. Ollie’s Bargain Outlet has a 1 year low of $68.05 and a 1 year high of $104.98.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its earnings results on Thursday, August 29th. The company reported $0.78 EPS for the quarter, hitting analysts’ consensus estimates of $0.78. The business had revenue of $578.38 million during the quarter, compared to analysts’ expectations of $561.60 million. Ollie’s Bargain Outlet had a net margin of 9.19% and a return on equity of 13.27%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.67 earnings per share. As a group, equities analysts anticipate that Ollie’s Bargain Outlet will post 3.28 earnings per share for the current year.

Insider Activity

In other news, SVP Kevin Mclain sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $98.99, for a total value of $1,484,850.00. Following the sale, the senior vice president now directly owns 10,610 shares of the company’s stock, valued at approximately $1,050,283.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP James J. Comitale sold 2,153 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $104.17, for a total transaction of $224,278.01. Following the sale, the senior vice president now directly owns 2,732 shares of the company’s stock, valued at approximately $284,592.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Kevin Mclain sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $98.99, for a total transaction of $1,484,850.00. Following the sale, the senior vice president now directly owns 10,610 shares in the company, valued at $1,050,283.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,632 shares of company stock valued at $2,459,421. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new stake in Ollie’s Bargain Outlet during the 2nd quarter worth approximately $25,000. ORG Partners LLC purchased a new stake in Ollie’s Bargain Outlet during the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC purchased a new stake in Ollie’s Bargain Outlet during the 2nd quarter worth approximately $31,000. Crewe Advisors LLC purchased a new stake in Ollie’s Bargain Outlet during the 2nd quarter worth approximately $36,000. Finally, Versant Capital Management Inc purchased a new stake in Ollie’s Bargain Outlet during the 2nd quarter worth approximately $38,000.

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.