Ollie’s Bargain Outlet (NASDAQ:OLLI) Stock Rating Upgraded by StockNews.com

Ollie’s Bargain Outlet (NASDAQ:OLLI) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

Other equities analysts have also issued research reports about the stock. Morgan Stanley raised their price objective on shares of Ollie’s Bargain Outlet from $80.00 to $92.00 and gave the company an “equal weight” rating in a research report on Thursday, June 6th. Piper Sandler restated an “overweight” rating and set a $107.00 target price on shares of Ollie’s Bargain Outlet in a report on Friday, August 30th. JPMorgan Chase & Co. dropped their price target on Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Loop Capital reissued a “buy” rating and set a $110.00 price objective on shares of Ollie’s Bargain Outlet in a research note on Friday, September 20th. Finally, Royal Bank of Canada decreased their target price on Ollie’s Bargain Outlet from $101.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.33.

Ollie’s Bargain Outlet Stock Down 1.7 %

OLLI traded down $1.68 during trading on Friday, reaching $96.98. The stock had a trading volume of 1,208,654 shares, compared to its average volume of 1,038,710. The stock has a 50 day moving average of $95.21 and a two-hundred day moving average of $86.97. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 30.59, a price-to-earnings-growth ratio of 2.54 and a beta of 0.84. 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 announced its quarterly earnings data on Thursday, August 29th. The company reported $0.78 earnings per share for the quarter, meeting the consensus estimate of $0.78. Ollie’s Bargain Outlet had a return on equity of 13.27% and a net margin of 9.19%. The business had revenue of $578.38 million during the quarter, compared to analyst estimates of $561.60 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. The company’s revenue was up 12.4% on a year-over-year basis. On average, research analysts forecast that Ollie’s Bargain Outlet will post 3.28 EPS for the current fiscal year.

Insider Activity at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, President Der Valk Eric Van sold 7,479 shares of Ollie’s Bargain Outlet 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 sale, the president now directly owns 5,615 shares in the company, valued at $563,296.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Ollie’s Bargain Outlet news, President Der Valk Eric Van sold 7,479 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $100.32, for a total value of $750,293.28. Following the completion of the sale, the president now owns 5,615 shares of the company’s stock, valued at $563,296.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP James J. Comitale sold 2,153 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $104.17, for a total value of $224,278.01. Following the sale, the senior vice president now owns 2,732 shares of the company’s stock, valued at approximately $284,592.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,632 shares of company stock valued at $2,459,421. 0.87% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

A number of institutional investors have recently modified their holdings of the company. Capital Research Global Investors acquired a new position in Ollie’s Bargain Outlet in the 1st quarter valued at $136,978,000. D. E. Shaw & Co. Inc. boosted its holdings in Ollie’s Bargain Outlet by 953.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 566,738 shares of the company’s stock valued at $55,637,000 after acquiring an additional 512,928 shares during the period. Los Angeles Capital Management LLC grew its position in shares of Ollie’s Bargain Outlet by 199.3% in the second quarter. Los Angeles Capital Management LLC now owns 560,054 shares of the company’s stock valued at $54,981,000 after purchasing an additional 372,914 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Ollie’s Bargain Outlet by 6.2% in the first quarter. Vanguard Group Inc. now owns 5,882,908 shares of the company’s stock worth $468,103,000 after purchasing an additional 343,903 shares during the period. Finally, Wasatch Advisors LP lifted its position in shares of Ollie’s Bargain Outlet by 5.2% during the 4th quarter. Wasatch Advisors LP now owns 3,761,480 shares of the company’s stock worth $285,459,000 after purchasing an additional 184,864 shares during 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.