JPMorgan Chase & Co. Increases Ollie’s Bargain Outlet (NASDAQ:OLLI) Price Target to $137.00

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its target price raised by JPMorgan Chase & Co. from $135.00 to $137.00 in a research report sent to investors on Monday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

OLLI has been the topic of several other research reports. Royal Bank of Canada raised their price target on shares of Ollie’s Bargain Outlet from $130.00 to $133.00 and gave the company an “outperform” rating in a research report on Friday, March 7th. StockNews.com upgraded shares of Ollie’s Bargain Outlet from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Piper Sandler lowered their price target on shares of Ollie’s Bargain Outlet from $126.00 to $124.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Jefferies Financial Group downgraded shares of Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and reduced their target price for the stock from $125.00 to $111.00 in a research note on Tuesday, February 4th. Finally, Morgan Stanley lifted their target price on shares of 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. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Ollie’s Bargain Outlet has a consensus rating of “Moderate Buy” and an average target price of $124.07.

Ollie’s Bargain Outlet Price Performance

Shares of Ollie’s Bargain Outlet stock opened at $116.34 on Monday. The firm has a fifty day moving average price of $110.57 and a 200 day moving average price of $106.61. Ollie’s Bargain Outlet has a 1 year low of $72.22 and a 1 year high of $122.15. The stock has a market cap of $7.14 billion, a PE ratio of 34.73, a price-to-earnings-growth ratio of 2.21 and a beta of 0.45.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its earnings results on Wednesday, March 19th. The company reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.01). Ollie’s Bargain Outlet had a return on equity of 13.15% and a net margin of 9.22%. The business had revenue of $667.10 million for the quarter, compared to analysts’ expectations of $674.61 million. During the same period last year, the business earned $1.23 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities analysts expect that Ollie’s Bargain Outlet will post 3.29 EPS for the current year.

Insider Buying and Selling

In other Ollie’s Bargain Outlet news, CEO Der Valk Eric Van sold 1,153 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $110.85, for a total value of $127,810.05. Following the sale, the chief executive officer now directly owns 6,768 shares of the company’s stock, valued at approximately $750,232.80. This represents a 14.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert Fisch sold 6,250 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $108.08, for a total transaction of $675,500.00. Following the completion of the sale, the director now directly owns 22,159 shares in the company, valued at approximately $2,394,944.72. This represents a 22.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,897 shares of company stock valued at $4,227,970 in the last ninety days. Company insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Ollie’s Bargain Outlet by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,821,957 shares of the company’s stock valued at $638,843,000 after buying an additional 70,496 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Ollie’s Bargain Outlet by 173.8% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,644,774 shares of the company’s stock valued at $509,671,000 after purchasing an additional 2,948,393 shares in the last quarter. Congress Asset Management Co. increased its holdings in shares of Ollie’s Bargain Outlet by 181.6% in the 4th quarter. Congress Asset Management Co. now owns 1,916,584 shares of the company’s stock valued at $210,307,000 after purchasing an additional 1,235,994 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Ollie’s Bargain Outlet by 1.1% in the 4th quarter. Invesco Ltd. now owns 1,645,472 shares of the company’s stock valued at $180,558,000 after purchasing an additional 17,302 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Ollie’s Bargain Outlet by 12.9% in the 4th quarter. Alliancebernstein L.P. now owns 1,629,572 shares of the company’s stock valued at $178,813,000 after purchasing an additional 186,313 shares in the last quarter.

Ollie’s Bargain Outlet Company Profile

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.