Bank of America Begins Coverage on Ollie’s Bargain Outlet (NASDAQ:OLLI)

Bank of America started coverage on shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) in a research note released on Monday, StockNewsAPI reports. The firm issued a buy rating and a $92.00 target price on the stock.

Several other analysts also recently issued reports on the company. Loop Capital upgraded Ollie’s Bargain Outlet from a hold rating to a buy rating and boosted their price objective for the stock from $80.00 to $90.00 in a report on Friday, April 5th. Royal Bank of Canada restated an outperform rating and issued a $86.00 price target on shares of Ollie’s Bargain Outlet in a research report on Thursday, March 21st. Craig Hallum lifted their price objective on shares of Ollie’s Bargain Outlet from $98.00 to $100.00 and gave the stock a buy rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. reduced their target price on Ollie’s Bargain Outlet from $88.00 to $85.00 and set a neutral rating for the company in a report on Thursday, March 21st. Finally, Truist Financial upgraded Ollie’s Bargain Outlet from a hold rating to a buy rating and lifted their price target for the company from $80.00 to $86.00 in a report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $87.08.

Ollie’s Bargain Outlet Price Performance

Shares of OLLI opened at $78.60 on Monday. The firm’s 50 day moving average is $74.98 and its 200-day moving average is $75.25. Ollie’s Bargain Outlet has a 12-month low of $52.93 and a 12-month high of $84.38. The stock has a market capitalization of $4.82 billion, a P/E ratio of 26.92 and a beta of 0.76.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted its quarterly earnings results on Wednesday, March 20th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.07. The firm had revenue of $648.90 million for the quarter, compared to analyst estimates of $649.39 million. Ollie’s Bargain Outlet had a net margin of 8.63% and a return on equity of 12.55%. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 earnings per share. As a group, equities research analysts forecast that Ollie’s Bargain Outlet will post 3.19 EPS for the current fiscal year.

Insider Transactions at Ollie’s Bargain Outlet

In other Ollie’s Bargain Outlet news, CFO Robert F. Helm sold 2,317 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $78.14, for a total value of $181,050.38. Following the completion of the sale, the chief financial officer now directly owns 1,777 shares of the company’s stock, valued at approximately $138,854.78. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Ollie’s Bargain Outlet news, CEO John W. Swygert sold 5,000 shares of Ollie’s Bargain Outlet stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $82.57, for a total transaction of $412,850.00. Following the sale, the chief executive officer now owns 48,200 shares in the company, valued at $3,979,874. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert F. Helm sold 2,317 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $78.14, for a total transaction of $181,050.38. Following the completion of the transaction, the chief financial officer now owns 1,777 shares of the company’s stock, valued at approximately $138,854.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,341 shares of company stock worth $2,097,938. Insiders own 0.87% of the company’s stock.

Institutional Trading of Ollie’s Bargain Outlet

Several institutional investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Ollie’s Bargain Outlet in the 3rd quarter worth approximately $461,000. Bailard Inc. acquired a new position in Ollie’s Bargain Outlet during the third quarter worth $239,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Ollie’s Bargain Outlet by 32.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,055 shares of the company’s stock valued at $776,000 after acquiring an additional 2,458 shares during the period. Emerald Advisers LLC acquired a new stake in shares of Ollie’s Bargain Outlet in the 3rd quarter valued at $4,871,000. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in shares of Ollie’s Bargain Outlet in the 3rd quarter worth about $3,962,000.

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.