Ollie’s Bargain Outlet (NASDAQ:OLLI) Stock Price Expected to Rise, Bank of America Analyst Says

Ollie’s Bargain Outlet (NASDAQ:OLLI) had its price objective raised by analysts at Bank of America from $115.00 to $130.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target points to a potential upside of 16.92% from the company’s current price.

A number of other brokerages also recently weighed in on OLLI. Craig Hallum raised their price objective on Ollie’s Bargain Outlet from $107.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday. Gordon Haskett raised Ollie’s Bargain Outlet from an “accumulate” rating to a “buy” rating and raised their price objective for the company from $105.00 to $107.00 in a research report on Monday, August 26th. UBS Group raised their price objective on Ollie’s Bargain Outlet from $97.00 to $99.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Piper Sandler raised their price objective on Ollie’s Bargain Outlet from $107.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Loop Capital reaffirmed a “buy” rating and set a $110.00 price objective on shares of Ollie’s Bargain Outlet in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $116.58.

Ollie’s Bargain Outlet Trading Down 2.0 %

OLLI opened at $111.19 on Wednesday. Ollie’s Bargain Outlet has a 12-month low of $68.05 and a 12-month high of $115.98. The business’s fifty day simple moving average is $95.95 and its 200-day simple moving average is $94.95. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 33.19, a PEG ratio of 2.53 and a beta of 0.85.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last posted 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 13.27% and a net margin of 9.19%. The business had revenue of $517.43 million for the quarter, compared to the consensus estimate of $518.83 million. During the same quarter in the prior year, the company earned $0.51 EPS. The business’s revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts predict that Ollie’s Bargain Outlet will post 3.27 EPS for the current year.

Insider Transactions at Ollie’s Bargain Outlet

In related news, President Der Valk Eric Van sold 7,479 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $100.32, for a total transaction of $750,293.28. Following the completion of the transaction, the president now directly owns 5,615 shares in the company, valued at approximately $563,296.80. This trade represents a 57.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John W. Swygert sold 4,032 shares of Ollie’s Bargain Outlet stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $102.51, for a total value of $413,320.32. Following the transaction, the chief executive officer now owns 48,200 shares of the company’s stock, valued at approximately $4,940,982. This represents a 7.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,755 shares of company stock worth $10,165,712 over the last three months. 0.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OLLI. Sanctuary Advisors LLC increased its position in shares of Ollie’s Bargain Outlet by 464.8% in the third quarter. Sanctuary Advisors LLC now owns 17,135 shares of the company’s stock valued at $1,621,000 after buying an additional 14,101 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Ollie’s Bargain Outlet in the third quarter valued at approximately $969,000. Geode Capital Management LLC increased its position in shares of Ollie’s Bargain Outlet by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,078,544 shares of the company’s stock valued at $104,860,000 after buying an additional 9,492 shares in the last quarter. Bullseye Asset Management LLC increased its position in shares of Ollie’s Bargain Outlet by 1.8% in the third quarter. Bullseye Asset Management LLC now owns 55,274 shares of the company’s stock valued at $5,373,000 after buying an additional 1,000 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Ollie’s Bargain Outlet by 59.2% in the third quarter. Barclays PLC now owns 41,307 shares of the company’s stock valued at $4,014,000 after buying an additional 15,357 shares in 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.