Wells Fargo & Company Forecasts Strong Price Appreciation for Ollie’s Bargain Outlet (NASDAQ:OLLI) Stock

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price target hoisted by research analysts at Wells Fargo & Company from $95.00 to $105.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential downside of 5.57% from the company’s previous close.

OLLI has been the topic of a number of other research reports. Loop Capital lifted 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. Bank of America lifted their price target on Ollie’s Bargain Outlet from $115.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial lifted their price target on Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the company a “buy” rating in a report on Wednesday. Craig Hallum boosted their target price on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Piper Sandler boosted their target price on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the company an “overweight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Ollie’s Bargain Outlet presently has a consensus rating of “Moderate Buy” and a consensus target price of $116.58.

Ollie’s Bargain Outlet Stock Down 2.0 %

Shares of NASDAQ OLLI opened at $111.19 on Wednesday. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of 33.19, a PEG ratio of 2.53 and a beta of 0.85. The stock’s fifty day simple moving average is $95.95 and its 200 day simple moving average is $94.95. Ollie’s Bargain Outlet has a 52-week low of $68.05 and a 52-week high of $115.98.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. Ollie’s Bargain Outlet had a return on equity of 13.27% and a net margin of 9.19%. The business had revenue of $517.43 million for the quarter, compared to analysts’ expectations of $518.83 million. During the same period in the previous year, the firm posted $0.51 EPS. The company’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, analysts anticipate that Ollie’s Bargain Outlet will post 3.27 earnings per share for the current year.

Insiders Place Their Bets

In other Ollie’s Bargain Outlet news, CEO John W. Swygert sold 54,318 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $109.44, for a total value of $5,944,561.92. Following the completion of the transaction, the chief executive officer now owns 48,200 shares of the company’s stock, valued at $5,275,008. This represents a 52.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Der Valk Eric Van sold 7,479 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $100.32, for a total value of $750,293.28. Following the completion of the transaction, the president now directly owns 5,615 shares of the company’s stock, valued at approximately $563,296.80. This trade represents a 57.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,755 shares of company stock valued at $10,165,712 over the last quarter. Insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

Large investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in shares of Ollie’s Bargain Outlet in the 2nd quarter valued at approximately $25,000. Crewe Advisors LLC bought a new stake in Ollie’s Bargain Outlet during the 2nd quarter worth approximately $36,000. GAMMA Investing LLC grew its position in Ollie’s Bargain Outlet by 37.9% during the 3rd quarter. GAMMA Investing LLC now owns 651 shares of the company’s stock worth $63,000 after acquiring an additional 179 shares during the last quarter. Northwest & Ethical Investments L.P. bought a new stake in Ollie’s Bargain Outlet during the 3rd quarter worth approximately $117,000. Finally, LRI Investments LLC grew its position in Ollie’s Bargain Outlet by 2,356.1% during the 3rd quarter. LRI Investments LLC now owns 1,400 shares of the company’s stock worth $130,000 after acquiring an additional 1,343 shares during the last quarter.

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.