Bank of America Begins Coverage on Ollie’s Bargain Outlet (NASDAQ:OLLI)

Bank of America initiated coverage on shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) in a research note published on Monday morning, StockNewsAPI reports. The firm issued a buy rating and a $92.00 target price on the stock.

OLLI has been the topic of a number of other research reports. Royal Bank of Canada reissued an outperform rating and set a $86.00 target price on shares of Ollie’s Bargain Outlet in a research note on Thursday, March 21st. Craig Hallum upped their price objective on shares of Ollie’s Bargain Outlet from $98.00 to $100.00 and gave the stock a buy rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. cut their target price on shares of Ollie’s Bargain Outlet from $88.00 to $85.00 and set a neutral rating on the stock in a research report on Thursday, March 21st. Truist Financial raised shares of Ollie’s Bargain Outlet from a hold rating to a buy rating and boosted their target price for the stock from $80.00 to $86.00 in a research note on Friday, May 3rd. Finally, Loop Capital upgraded Ollie’s Bargain Outlet from a hold rating to a buy rating and increased their price target for the company from $80.00 to $90.00 in a research note on Friday, April 5th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $87.08.

Ollie’s Bargain Outlet Trading Down 1.1 %

Shares of Ollie’s Bargain Outlet stock opened at $78.60 on Monday. The company has a market cap of $4.82 billion, a PE ratio of 26.92 and a beta of 0.76. The company has a 50 day moving average of $74.98 and a 200-day moving average of $75.25. Ollie’s Bargain Outlet has a 1-year low of $52.93 and a 1-year high of $84.38.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its earnings results on Wednesday, March 20th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.07. Ollie’s Bargain Outlet had a return on equity of 12.55% and a net margin of 8.63%. The firm had revenue of $648.90 million during the quarter, compared to analysts’ expectations of $649.39 million. During the same period in the prior year, the company earned $0.84 earnings per share. The company’s quarterly revenue was up 18.0% on a year-over-year basis. Research analysts forecast that Ollie’s Bargain Outlet will post 3.19 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Thomas Hendrickson sold 5,000 shares of the stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $72.29, for a total transaction of $361,450.00. Following the completion of the sale, the director now directly owns 5,659 shares in the company, valued at $409,089.11. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Thomas Hendrickson sold 5,000 shares of the business’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $72.29, for a total value of $361,450.00. Following the transaction, the director now directly owns 5,659 shares of the company’s stock, valued at approximately $409,089.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert F. Helm sold 2,317 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $78.14, for a total value of $181,050.38. Following the sale, the chief financial officer now directly owns 1,777 shares of the company’s stock, valued at approximately $138,854.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,341 shares of company stock worth $2,097,938. 0.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System increased its stake in Ollie’s Bargain Outlet by 4.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 63,202 shares of the company’s stock valued at $5,029,000 after purchasing an additional 2,506 shares in the last quarter. US Bancorp DE boosted its holdings in Ollie’s Bargain Outlet by 0.9% during the 1st quarter. US Bancorp DE now owns 31,502 shares of the company’s stock worth $2,507,000 after acquiring an additional 278 shares during the last quarter. Headlands Technologies LLC bought a new stake in Ollie’s Bargain Outlet in the 1st quarter worth about $186,000. Meeder Asset Management Inc. purchased a new stake in shares of Ollie’s Bargain Outlet during the first quarter valued at approximately $529,000. Finally, Sei Investments Co. raised its stake in shares of Ollie’s Bargain Outlet by 15.3% during the 1st quarter. Sei Investments Co. now owns 207,554 shares of the company’s stock worth $16,515,000 after purchasing an additional 27,531 shares during the period.

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.