Ollie’s Bargain Outlet (OLLI) Cut to “Buy” at ValuEngine

Ollie’s Bargain Outlet (NASDAQ:OLLI) was downgraded by investment analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

OLLI has been the topic of several other reports. Royal Bank of Canada cut Ollie’s Bargain Outlet from an “outperform” rating to a “sector perform” rating and set a $95.00 target price on the stock. in a report on Monday, November 5th. They noted that the move was a valuation call. KeyCorp upped their target price on Ollie’s Bargain Outlet from $80.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, September 6th. BidaskClub upgraded Ollie’s Bargain Outlet from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 28th. Morgan Stanley set a $75.00 target price on Ollie’s Bargain Outlet and gave the company an “equal weight” rating in a report on Thursday, September 6th. Finally, Loop Capital upped their target price on Ollie’s Bargain Outlet to $85.00 and gave the company a “hold” rating in a report on Friday, September 7th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $90.33.

NASDAQ:OLLI opened at $69.13 on Thursday. The stock has a market cap of $4.51 billion, a PE ratio of 55.30, a PEG ratio of 1.64 and a beta of 0.34. The company has a current ratio of 2.03, a quick ratio of 0.31 and a debt-to-equity ratio of 0.01. Ollie’s Bargain Outlet has a 1-year low of $47.76 and a 1-year high of $97.61.

Ollie’s Bargain Outlet (NASDAQ:OLLI) last released its quarterly earnings results on Tuesday, December 4th. The company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The company had revenue of $283.60 million for the quarter, compared to analysts’ expectations of $278.62 million. Ollie’s Bargain Outlet had a return on equity of 12.66% and a net margin of 12.89%. The business’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.22 earnings per share. As a group, sell-side analysts anticipate that Ollie’s Bargain Outlet will post 1.77 earnings per share for the current year.

In other Ollie’s Bargain Outlet news, CFO Jay Stasz sold 5,337 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $91.16, for a total value of $486,520.92. Following the transaction, the chief financial officer now directly owns 12,733 shares of the company’s stock, valued at $1,160,740.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO John W. Swygert sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $88.84, for a total value of $4,264,320.00. Following the completion of the transaction, the chief operating officer now directly owns 77,193 shares in the company, valued at $6,857,826.12. The disclosure for this sale can be found here. Insiders sold 485,337 shares of company stock worth $44,137,101 over the last quarter. 20.27% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of OLLI. Harvest Fund Management Co. Ltd lifted its stake in Ollie’s Bargain Outlet by 290.0% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,568 shares of the company’s stock valued at $151,000 after buying an additional 1,166 shares during the period. Parallel Advisors LLC lifted its stake in Ollie’s Bargain Outlet by 414.7% in the third quarter. Parallel Advisors LLC now owns 1,750 shares of the company’s stock valued at $168,000 after buying an additional 1,410 shares during the period. Glenmede Trust Co. NA lifted its stake in Ollie’s Bargain Outlet by 92.8% in the third quarter. Glenmede Trust Co. NA now owns 1,897 shares of the company’s stock valued at $181,000 after buying an additional 913 shares during the period. Norris Perne & French LLP MI acquired a new position in Ollie’s Bargain Outlet in the third quarter valued at approximately $203,000. Finally, Verition Fund Management LLC acquired a new position in Ollie’s Bargain Outlet in the second quarter valued at approximately $214,000. 90.73% of the stock is currently owned by hedge funds and other institutional investors.

About Ollie’s Bargain Outlet

Ollie's Bargain Outlet Holdings, Inc operates as a retailer of brand name merchandise. The company offers food products, housewares, books and stationery, bed and bath products, floor coverings, electronics, and toys; and other products, including hardware, personal health care, candy, clothing, sporting, pet and lawn, and garden products.

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Analyst Recommendations for Ollie`s Bargain Outlet (NASDAQ:OLLI)

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