Royal Bank of Canada Issues Positive Forecast for Ollie’s Bargain Outlet (NASDAQ:OLLI) Stock Price

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its target price upped by Royal Bank of Canada from $130.00 to $133.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other research analysts have also recently issued reports about the company. Loop Capital boosted their target price on Ollie’s Bargain Outlet from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Citigroup raised Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $64.00 to $133.00 in a research report on Wednesday, December 18th. Wells Fargo & Company raised their target price on shares of Ollie’s Bargain Outlet from $95.00 to $105.00 and gave the company an “equal weight” rating in a report on Wednesday, December 11th. Truist Financial boosted their price target on shares of Ollie’s Bargain Outlet from $109.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Jefferies Financial Group lowered shares of Ollie’s Bargain Outlet from a “buy” rating to a “hold” rating and reduced their price objective for the company from $125.00 to $111.00 in a report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $118.29.

Ollie’s Bargain Outlet Price Performance

Shares of NASDAQ:OLLI opened at $103.03 on Friday. The firm has a market capitalization of $6.31 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 2.21 and a beta of 0.81. Ollie’s Bargain Outlet has a 1 year low of $68.05 and a 1 year high of $120.03. The firm’s 50-day moving average is $106.28 and its two-hundred day moving average is $100.90.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its earnings results on Tuesday, December 10th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. Ollie’s Bargain Outlet had a net margin of 9.22% and a return on equity of 13.15%. The firm had revenue of $517.43 million for the quarter, compared to the consensus estimate of $518.83 million. During the same period in the prior year, the firm earned $0.51 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts expect that Ollie’s Bargain Outlet will post 3.29 EPS for the current fiscal year.

Insider Buying and Selling at Ollie’s Bargain Outlet

In other news, SVP James J. Comitale sold 5,325 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $113.95, for a total value of $606,783.75. Following the completion of the sale, the senior vice president now directly owns 3,140 shares of the company’s stock, valued at approximately $357,803. The trade was a 62.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John W. Swygert sold 54,318 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $109.44, for a total value of $5,944,561.92. Following the transaction, the chief executive officer now owns 48,200 shares in the company, valued at $5,275,008. This represents a 52.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 76,539 shares of company stock worth $8,498,935 over the last 90 days. Corporate insiders own 0.87% of the company’s stock.

Institutional Trading of Ollie’s Bargain Outlet

Several institutional investors and hedge funds have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Ollie’s Bargain Outlet by 489.7% in 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 period. Wilmington Savings Fund Society FSB grew its holdings in shares of 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 worth $26,000 after buying an additional 182 shares during the last quarter. Bogart Wealth LLC acquired a new position in Ollie’s Bargain Outlet in the 4th quarter valued at about $26,000. Blue Trust Inc. raised its stake in 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 acquiring an additional 101 shares during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new stake in Ollie’s Bargain Outlet during the 4th quarter worth approximately $33,000.

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.