Ollie’s Bargain Outlet’s (OLLI) Outperform Rating Reaffirmed at Royal Bank of Canada

Ollie’s Bargain Outlet (NASDAQ:OLLI)‘s stock had its “outperform” rating reiterated by Royal Bank of Canada in a report issued on Monday,Benzinga reports. They presently have a $130.00 target price on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 10.25% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. Gordon Haskett upgraded 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 report on Monday, August 26th. Craig Hallum upped their price objective on shares of Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Piper Sandler boosted their target price on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Citigroup raised Ollie’s Bargain Outlet from a “sell” rating to a “buy” rating and lifted their price target for the stock from $64.00 to $133.00 in a research report on Wednesday, December 18th. Finally, UBS Group raised their price objective on shares of Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $118.62.

Ollie’s Bargain Outlet Trading Up 0.2 %

Ollie’s Bargain Outlet stock opened at $117.91 on Monday. The company has a fifty day simple moving average of $98.38 and a 200-day simple moving average of $96.54. The stock has a market cap of $7.23 billion, a P/E ratio of 35.20, a price-to-earnings-growth ratio of 2.79 and a beta of 0.85. Ollie’s Bargain Outlet has a 12-month low of $68.05 and a 12-month high of $120.03.

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

Insider Transactions at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, CFO Robert F. Helm sold 2,401 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $94.68, for a total value of $227,326.68. Following the completion of the transaction, the chief financial officer now owns 2,021 shares in the company, valued at approximately $191,348.28. This represents a 54.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Thomas Hendrickson sold 6,250 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $114.74, for a total value of $717,125.00. The disclosure for this sale can be found here. In the last three months, insiders sold 90,172 shares of company stock valued at $9,878,158. Corporate insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Royce & Associates LP grew its holdings in shares of Ollie’s Bargain Outlet by 161.6% in the 3rd quarter. Royce & Associates LP now owns 75,605 shares of the company’s stock worth $7,349,000 after acquiring an additional 46,706 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Ollie’s Bargain Outlet by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 753,658 shares of the company’s stock valued at $73,256,000 after buying an additional 5,438 shares in the last quarter. Fred Alger Management LLC boosted its position in shares of Ollie’s Bargain Outlet by 12.1% in the 3rd quarter. Fred Alger Management LLC now owns 772,145 shares of the company’s stock worth $75,052,000 after buying an additional 83,063 shares in the last quarter. Hancock Whitney Corp acquired a new stake in Ollie’s Bargain Outlet in the 3rd quarter valued at about $988,000. Finally, D. E. Shaw & Co. Inc. raised its position in Ollie’s Bargain Outlet by 953.2% during the second quarter. D. E. Shaw & Co. Inc. now owns 566,738 shares of the company’s stock worth $55,637,000 after acquiring an additional 512,928 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.