Wells Fargo & Company Downgrades Ollie’s Bargain Outlet (NASDAQ:OLLI) to Equal Weight

Ollie’s Bargain Outlet (NASDAQ:OLLI) was downgraded by equities research analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research note issued on Tuesday, MarketBeat.com reports. They currently have a $95.00 price target on the stock, down from their previous price target of $100.00. Wells Fargo & Company‘s price target would suggest a potential downside of 5.29% from the stock’s previous close.

Several other brokerages also recently issued reports on OLLI. 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. Bank of America raised their price target on shares of Ollie’s Bargain Outlet from $102.00 to $115.00 and gave the company a “buy” rating in a report on Monday, September 30th. Royal Bank of Canada boosted their price objective on shares of Ollie’s Bargain Outlet from $100.00 to $106.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Loop Capital reissued a “buy” rating and issued a $110.00 price objective on shares of Ollie’s Bargain Outlet in a research report on Friday, September 20th. Finally, UBS Group lifted their target price on Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $104.50.

Ollie’s Bargain Outlet Price Performance

Shares of NASDAQ OLLI opened at $100.31 on Tuesday. Ollie’s Bargain Outlet has a 1-year low of $68.05 and a 1-year high of $104.98. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 2.48 and a beta of 0.85. The business has a 50-day moving average of $94.84 and a 200-day moving average of $93.78.

Insider Transactions at Ollie’s Bargain Outlet

In other news, CFO Robert F. Helm sold 2,401 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $94.68, for a total value of $227,326.68. Following the transaction, the chief financial officer now directly owns 2,021 shares in the company, valued at approximately $191,348.28. This trade represents a 54.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kevin Mclain sold 15,000 shares of the stock in a transaction dated 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 owns 10,610 shares in the company, valued at approximately $1,050,283.90. This trade represents a 58.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,712 shares of company stock worth $3,368,270. 0.87% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OLLI. International Assets Investment Management LLC acquired a new position in shares of Ollie’s Bargain Outlet during the second quarter valued at $25,000. Opal Wealth Advisors LLC bought a new stake in Ollie’s Bargain Outlet in the 2nd quarter valued at about $31,000. Crewe Advisors LLC bought a new stake in Ollie’s Bargain Outlet in the 2nd quarter valued at about $36,000. GAMMA Investing LLC boosted its stake in Ollie’s Bargain Outlet by 686.7% during the 2nd quarter. GAMMA Investing LLC now owns 472 shares of the company’s stock valued at $46,000 after purchasing an additional 412 shares during the period. Finally, Northwest & Ethical Investments L.P. bought a new position in Ollie’s Bargain Outlet in the 3rd quarter worth about $117,000.

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.