Ollie’s Bargain Outlet (NASDAQ:OLLI) Upgraded to “Buy” at Gordon Haskett

Gordon Haskett upgraded shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) from an accumulate rating to a buy rating in a research note released on Monday morning, Marketbeat Ratings reports. The brokerage currently has $107.00 price objective on the stock, up from their previous price objective of $105.00.

Several other research analysts have also commented on OLLI. Loop Capital boosted their price target on Ollie’s Bargain Outlet from $100.00 to $110.00 and gave the stock a buy rating in a research report on Monday, June 24th. Wells Fargo & Company increased their price target on shares of Ollie’s Bargain Outlet from $85.00 to $100.00 and gave the company an overweight rating in a research report on Thursday, June 6th. UBS Group boosted their price objective on shares of Ollie’s Bargain Outlet from $95.00 to $97.00 and gave the stock a neutral rating in a research note on Thursday, June 6th. Truist Financial raised their target price on shares of Ollie’s Bargain Outlet from $102.00 to $109.00 and gave the company a buy rating in a research note on Friday, July 12th. Finally, Craig Hallum upped their price target on Ollie’s Bargain Outlet from $100.00 to $105.00 and gave the stock a buy rating in a research report on Thursday, June 6th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Ollie’s Bargain Outlet has an average rating of Moderate Buy and a consensus target price of $102.46.

Ollie’s Bargain Outlet Price Performance

NASDAQ:OLLI opened at $94.09 on Monday. Ollie’s Bargain Outlet has a 1-year low of $68.05 and a 1-year high of $104.98. The company has a 50-day moving average of $97.12 and a 200 day moving average of $84.46. The firm has a market cap of $5.76 billion, a PE ratio of 29.68, a price-to-earnings-growth ratio of 2.60 and a beta of 0.90.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last announced its quarterly earnings results on Wednesday, June 5th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.08. The firm had revenue of $508.82 million during the quarter, compared to analysts’ expectations of $506.49 million. Ollie’s Bargain Outlet had a net margin of 9.14% and a return on equity of 13.22%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.49 EPS. Sell-side analysts anticipate that Ollie’s Bargain Outlet will post 3.27 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP James J. Comitale sold 2,153 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $104.17, for a total value of $224,278.01. Following the transaction, the senior vice president now owns 2,732 shares in the company, valued at approximately $284,592.44. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, SVP James J. Comitale sold 2,153 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $104.17, for a total value of $224,278.01. Following the completion of the transaction, the senior vice president now directly owns 2,732 shares in the company, valued at approximately $284,592.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas Hendrickson sold 4,500 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $97.54, for a total transaction of $438,930.00. Following the completion of the transaction, the director now owns 5,659 shares of the company’s stock, valued at approximately $551,978.86. The disclosure for this sale can be found here. Insiders sold 34,367 shares of company stock valued at $3,061,165 over the last quarter. 0.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Ollie’s Bargain Outlet by 11.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,214 shares of the company’s stock worth $851,000 after acquiring an additional 1,159 shares during the period. CWM LLC lifted its stake in Ollie’s Bargain Outlet by 25.8% in the 4th quarter. CWM LLC now owns 1,741 shares of the company’s stock valued at $132,000 after buying an additional 357 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Ollie’s Bargain Outlet by 5.6% in the 4th quarter. Handelsbanken Fonder AB now owns 13,300 shares of the company’s stock worth $1,009,000 after buying an additional 700 shares during the last quarter. California Public Employees Retirement System increased its stake in Ollie’s Bargain Outlet by 2.2% during the 4th quarter. California Public Employees Retirement System now owns 119,591 shares of the company’s stock worth $9,076,000 after buying an additional 2,531 shares in the last quarter. Finally, Atria Wealth Solutions Inc. raised its holdings in shares of Ollie’s Bargain Outlet by 9.9% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,986 shares of the company’s stock valued at $303,000 after acquiring an additional 359 shares during the last quarter.

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.