Ollie’s Bargain Outlet’s (OLLI) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) in a report issued on Wednesday,Benzinga reports. The firm currently has a $123.00 price objective on the stock, down from their previous price objective of $124.00.

Several other research firms have also issued reports on OLLI. Morgan Stanley upped their target price on Ollie’s Bargain Outlet from $108.00 to $118.00 and gave the company an “equal weight” rating in a report on Thursday, March 20th. JPMorgan Chase & Co. raised their target price on Ollie’s Bargain Outlet from $135.00 to $137.00 and gave the company an “overweight” rating in a research report on Monday, May 19th. Jefferies Financial Group downgraded shares of Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and cut their price target for the stock from $125.00 to $111.00 in a report on Tuesday, February 4th. KeyCorp restated an “overweight” rating and set a $135.00 price objective on shares of Ollie’s Bargain Outlet in a report on Wednesday. Finally, UBS Group boosted their target price on shares of Ollie’s Bargain Outlet from $117.00 to $123.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Ollie’s Bargain Outlet presently has an average rating of “Moderate Buy” and an average price target of $124.50.

Ollie’s Bargain Outlet Trading Up 3.8%

Shares of NASDAQ:OLLI opened at $119.37 on Wednesday. The stock has a market cap of $7.32 billion, a PE ratio of 35.63, a price-to-earnings-growth ratio of 2.21 and a beta of 0.37. The stock’s fifty day simple moving average is $111.66 and its two-hundred day simple moving average is $108.17. Ollie’s Bargain Outlet has a 1-year low of $82.84 and a 1-year high of $122.15.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its earnings results on Tuesday, June 3rd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.70 by $0.05. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The company had revenue of $576.77 million during the quarter, compared to the consensus estimate of $565.04 million. During the same quarter in the prior year, the company posted $0.73 earnings per share. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, sell-side analysts forecast that Ollie’s Bargain Outlet will post 3.29 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Der Valk Eric Van sold 525 shares of the company’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $112.94, for a total value of $59,293.50. Following the transaction, the chief executive officer now owns 6,793 shares of the company’s stock, valued at approximately $767,201.42. This represents a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Robert F. Helm sold 2,145 shares of Ollie’s Bargain Outlet stock in a transaction on Monday, March 24th. The shares were sold at an average price of $108.50, for a total value of $232,732.50. Following the sale, the chief financial officer now directly owns 3,888 shares of the company’s stock, valued at $421,848. This represents a 35.55% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,897 shares of company stock worth $4,227,970. 0.75% of the stock is owned by corporate insiders.

Institutional Trading of Ollie’s Bargain Outlet

A number of large investors have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position 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 purchasing an additional 191 shares during the last quarter. Bogart Wealth LLC purchased a new position in shares of Ollie’s Bargain Outlet in the 4th quarter worth about $26,000. Wilmington Savings Fund Society FSB increased its position in shares of Ollie’s Bargain Outlet by 337.0% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 236 shares of the company’s stock valued at $26,000 after purchasing an additional 182 shares during the last quarter. HM Payson & Co. purchased a new position in shares of Ollie’s Bargain Outlet during the first quarter worth approximately $30,000. Finally, Blue Trust Inc. grew its holdings in shares of Ollie’s Bargain Outlet by 55.2% during the 4th quarter. Blue Trust Inc. now owns 284 shares of the company’s stock valued at $31,000 after purchasing an additional 101 shares during the last quarter.

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.