Ollie’s Bargain Outlet (NASDAQ:OLLI) Downgraded by StockNews.com

Ollie’s Bargain Outlet (NASDAQ:OLLI) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

Several other analysts have also recently weighed in on OLLI. Piper Sandler reissued an “overweight” rating and issued a $107.00 price objective on shares of Ollie’s Bargain Outlet in a research note on Friday, October 4th. Gordon Haskett raised shares of Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and boosted their price objective for the stock from $105.00 to $107.00 in a research note on Monday, August 26th. Royal Bank of Canada boosted their price objective on shares of Ollie’s Bargain Outlet from $100.00 to $106.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Loop Capital reaffirmed a “buy” rating and set a $110.00 price target on shares of Ollie’s Bargain Outlet in a research report on Friday, September 20th. Finally, JPMorgan Chase & Co. cut their price target on shares of Ollie’s Bargain Outlet from $113.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Ollie’s Bargain Outlet has a consensus rating of “Moderate Buy” and a consensus target price of $104.92.

Ollie’s Bargain Outlet Stock Performance

Shares of NASDAQ:OLLI opened at $93.10 on Tuesday. The company has a fifty day moving average of $95.08 and a 200-day moving average of $89.34. The company has a market capitalization of $5.70 billion, a PE ratio of 29.37, a price-to-earnings-growth ratio of 2.35 and a beta of 0.84. Ollie’s Bargain Outlet has a 52-week low of $68.05 and a 52-week high of $104.98.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.78 earnings per share for the quarter, hitting the consensus estimate of $0.78. Ollie’s Bargain Outlet had a net margin of 9.19% and a return on equity of 13.27%. The company had revenue of $578.38 million for the quarter, compared to analysts’ expectations of $561.60 million. During the same quarter in the previous year, the firm posted $0.67 earnings per share. Ollie’s Bargain Outlet’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, equities analysts forecast that Ollie’s Bargain Outlet will post 3.28 EPS for the current fiscal year.

Insider Activity

In other news, CFO Robert F. Helm sold 2,401 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $94.68, for a total transaction of $227,326.68. Following the transaction, the chief financial officer now owns 2,021 shares in the company, valued at approximately $191,348.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Robert F. Helm sold 2,401 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $94.68, for a total value of $227,326.68. Following the sale, the chief financial officer now owns 2,021 shares in the company, valued at $191,348.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Der Valk Eric Van sold 7,479 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $100.32, for a total transaction of $750,293.28. Following the completion of the sale, the president now owns 5,615 shares in the company, valued at $563,296.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,880 shares of company stock worth $2,462,470. Company insiders own 0.87% of the company’s stock.

Institutional Investors Weigh In On Ollie’s Bargain Outlet

A number of institutional investors and hedge funds have recently made changes to their positions in OLLI. Vanguard Group Inc. raised its holdings in shares of Ollie’s Bargain Outlet by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,539,005 shares of the company’s stock worth $420,355,000 after acquiring an additional 43,979 shares during the last quarter. Diversified Trust Co increased its stake in Ollie’s Bargain Outlet by 23.4% in the 1st quarter. Diversified Trust Co now owns 4,488 shares of the company’s stock valued at $357,000 after buying an additional 852 shares during the last quarter. State of Michigan Retirement System increased its stake in Ollie’s Bargain Outlet by 2.0% in the 1st quarter. State of Michigan Retirement System now owns 15,103 shares of the company’s stock valued at $1,202,000 after buying an additional 300 shares during the last quarter. Wasatch Advisors LP increased its stake in Ollie’s Bargain Outlet by 4.1% in the 1st quarter. Wasatch Advisors LP now owns 3,917,575 shares of the company’s stock valued at $311,721,000 after buying an additional 156,095 shares during the last quarter. Finally, Norden Group LLC increased its stake in Ollie’s Bargain Outlet by 2,574.5% in the 1st quarter. Norden Group LLC now owns 133,992 shares of the company’s stock valued at $10,662,000 after buying an additional 128,982 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.