Ollie’s Bargain Outlet (NASDAQ:OLLI) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) from a sell rating to a hold rating in a research note released on Tuesday.

Other equities research analysts have also issued reports about the company. Morgan Stanley raised their price objective on Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 20th. Piper Sandler reduced their price objective on Ollie’s Bargain Outlet from $126.00 to $124.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. UBS Group raised their price objective on Ollie’s Bargain Outlet from $117.00 to $123.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. Royal Bank of Canada raised their target price on Ollie’s Bargain Outlet from $130.00 to $133.00 and gave the stock an “outperform” rating in a research report on Friday, March 7th. Finally, Jefferies Financial Group cut Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and decreased their target price for the stock from $125.00 to $111.00 in a research report on Tuesday, February 4th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $123.08.

Ollie’s Bargain Outlet Stock Performance

Shares of OLLI stock opened at $113.94 on Tuesday. Ollie’s Bargain Outlet has a 1 year low of $72.19 and a 1 year high of $120.03. The stock has a market cap of $7.00 billion, a PE ratio of 34.01, a price-to-earnings-growth ratio of 2.21 and a beta of 0.45. The business’s fifty day moving average is $108.75 and its 200-day moving average is $105.65.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings data on Wednesday, March 19th. The company reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.01). The company had revenue of $667.10 million for the quarter, compared to the consensus estimate of $674.61 million. Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 earnings per share. Equities research analysts predict that Ollie’s Bargain Outlet will post 3.29 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Der Valk Eric Van sold 1,153 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $110.85, for a total transaction of $127,810.05. Following the completion of the sale, the chief executive officer now directly owns 6,768 shares in the company, valued at approximately $750,232.80. This trade represents a 14.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert F. Helm sold 312 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $107.17, for a total value of $33,437.04. Following the sale, the chief financial officer now owns 3,273 shares of the company’s stock, valued at approximately $350,767.41. This represents a 8.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,897 shares of company stock worth $4,227,970. Corporate insiders own 0.75% of the company’s stock.

Hedge Funds Weigh In On Ollie’s Bargain Outlet

Institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Ollie’s Bargain Outlet by 489.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230 shares of the company’s stock valued at $25,000 after buying an additional 191 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in Ollie’s Bargain Outlet by 337.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company’s stock valued at $26,000 after buying an additional 182 shares in the last quarter. Bogart Wealth LLC bought a new position in Ollie’s Bargain Outlet during the fourth quarter valued at about $26,000. HM Payson & Co. bought a new position in Ollie’s Bargain Outlet during the first quarter valued at about $30,000. Finally, City Holding Co. bought a new position in Ollie’s Bargain Outlet during the first quarter valued at about $31,000.

About Ollie’s Bargain Outlet

Ollie’s Bargain Outlet Holdings, Inc is a holding company, which engages in the retail of closeouts, excess inventory, and salvage merchandise. It offers overstocks, package changes, manufacturer refurbished goods, and irregulars. The company’s products include housewares, food, books and stationery, bed and bath, floor coverings, electronics and toys.