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

Gordon Haskett upgraded shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) from an accumulate rating to a buy rating in a report published on Monday, Marketbeat reports. They currently have $107.00 price target on the stock, up from their prior price target of $105.00.

Other analysts have also recently issued reports about the stock. Royal Bank of Canada lifted their price target on shares of Ollie’s Bargain Outlet from $86.00 to $101.00 and gave the stock an outperform rating in a research report on Thursday, June 6th. Morgan Stanley upped their target price on Ollie’s Bargain Outlet from $80.00 to $92.00 and gave the company an equal weight rating in a report on Thursday, June 6th. Piper Sandler lifted their price target on Ollie’s Bargain Outlet from $100.00 to $107.00 and gave the stock an overweight rating in a research note on Tuesday, June 25th. UBS Group upped their price objective on shares of Ollie’s Bargain Outlet from $95.00 to $97.00 and gave the company a neutral rating in a research note on Thursday, June 6th. Finally, Bank of America boosted their price target on shares of Ollie’s Bargain Outlet from $92.00 to $102.00 and gave the company a buy rating in a report on Thursday, June 6th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $102.46.

Ollie’s Bargain Outlet Price Performance

Shares of NASDAQ:OLLI opened at $97.70 on Monday. The stock’s 50 day moving average price is $97.26 and its 200 day moving average price is $84.27. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 30.82, a PEG ratio of 2.60 and a beta of 0.90. Ollie’s Bargain Outlet has a 12 month low of $68.05 and a 12 month high of $104.98.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings data on Wednesday, June 5th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. Ollie’s Bargain Outlet had a return on equity of 13.22% and a net margin of 9.14%. The business had revenue of $508.82 million during the quarter, compared to analyst estimates of $506.49 million. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts expect that Ollie’s Bargain Outlet will post 3.27 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Kevin Mclain sold 11,340 shares of Ollie’s Bargain Outlet stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $85.75, for a total transaction of $972,405.00. Following the completion of the sale, the senior vice president now directly 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 this link. In other news, SVP Kevin Mclain sold 11,340 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now owns 10,610 shares in the company, valued at approximately $909,807.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John W. Swygert sold 14,736 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $86.81, for a total transaction of $1,279,232.16. Following the completion of the sale, the chief executive officer now owns 48,200 shares of the company’s stock, valued at $4,184,242. The disclosure for this sale can be found here. Insiders have sold a total of 34,367 shares of company stock valued at $3,061,165 in the last three months. Insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Ollie’s Bargain Outlet by 6.2% during 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 during the period. Wasatch Advisors LP boosted its holdings in Ollie’s Bargain Outlet by 4.1% during the first quarter. Wasatch Advisors LP now owns 3,917,575 shares of the company’s stock valued at $311,721,000 after acquiring an additional 156,095 shares during the period. Capital Research Global Investors acquired a new stake in shares of Ollie’s Bargain Outlet in the first quarter valued at about $136,978,000. Geneva Capital Management LLC increased its stake in shares of Ollie’s Bargain Outlet by 0.4% in the fourth quarter. Geneva Capital Management LLC now owns 1,037,404 shares of the company’s stock worth $78,729,000 after purchasing an additional 4,523 shares during the period. Finally, Norges Bank acquired a new position in shares of Ollie’s Bargain Outlet during the 4th quarter worth about $59,215,000.

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.