Piper Sandler Reaffirms Overweight Rating for Ollie’s Bargain Outlet (NASDAQ:OLLI)

Ollie’s Bargain Outlet (NASDAQ:OLLI)‘s stock had its “overweight” rating reaffirmed by research analysts at Piper Sandler in a research note issued on Friday, Benzinga reports. They currently have a $107.00 target price on the stock. Piper Sandler’s target price suggests a potential upside of 9.35% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. 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. Truist Financial upped their price target on Ollie’s Bargain Outlet from $102.00 to $109.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Gordon Haskett raised Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and raised their price objective for the stock from $105.00 to $107.00 in a research report on Monday, August 26th. Loop Capital reaffirmed a “buy” rating and set a $110.00 target price on shares of Ollie’s Bargain Outlet in a research report on Friday, September 20th. Finally, Morgan Stanley boosted their price target on Ollie’s Bargain Outlet from $80.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 6th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $104.92.

Ollie’s Bargain Outlet Stock Up 2.0 %

Shares of NASDAQ OLLI traded up $1.93 during midday trading on Friday, reaching $97.85. 321,146 shares of the company’s stock traded hands, compared to its average volume of 1,029,837. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 30.91, a P/E/G ratio of 2.42 and a beta of 0.84. Ollie’s Bargain Outlet has a one year low of $68.05 and a one year high of $104.98. The stock’s 50 day simple moving average is $95.07 and its 200-day simple moving average is $87.58.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.78 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.78. The business had revenue of $578.38 million for the quarter, compared to the consensus estimate of $561.60 million. Ollie’s Bargain Outlet had a return on equity of 13.27% and a net margin of 9.19%. The business’s revenue was up 12.4% compared to the same quarter last year. During the same period last year, the business posted $0.67 EPS. Equities analysts predict that Ollie’s Bargain Outlet will post 3.28 EPS for the current fiscal year.

Insider Activity

In related news, SVP Kevin Mclain sold 15,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $98.99, for a total transaction of $1,484,850.00. Following the completion of the transaction, the senior vice president now directly owns 10,610 shares in the company, valued at $1,050,283.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Ollie’s Bargain Outlet news, SVP Kevin Mclain sold 15,000 shares of the business’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 value of $1,484,850.00. Following the completion of the transaction, the senior vice president now directly owns 10,610 shares of the company’s stock, valued at approximately $1,050,283.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP James J. Comitale sold 2,153 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was 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 in the company, valued at $284,592.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,632 shares of company stock valued at $2,459,421 in the last ninety days. Insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Ollie’s Bargain Outlet in the 3rd quarter valued at $663,000. Sanctuary Advisors LLC acquired a new stake in shares of Ollie’s Bargain Outlet in the second quarter valued at about $298,000. Wallace Advisory Group LLC purchased a new stake in shares of Ollie’s Bargain Outlet during the second quarter worth about $303,000. Algert Global LLC raised its position in shares of Ollie’s Bargain Outlet by 12.9% during the 2nd quarter. Algert Global LLC now owns 6,180 shares of the company’s stock worth $607,000 after purchasing an additional 708 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Ollie’s Bargain Outlet in the 2nd quarter valued at about $560,000.

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.