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 report published on Monday morning, StockNewsAPI reports. The brokerage issued a buy rating and a $92.00 price objective on the stock.

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

Ollie’s Bargain Outlet Stock Up 2.4 %

Shares of NASDAQ OLLI opened at $78.68 on Monday. The stock has a market capitalization of $4.82 billion, a P/E ratio of 26.95 and a beta of 0.76. The stock’s 50 day moving average price is $75.03 and its two-hundred day moving average price is $75.20. Ollie’s Bargain Outlet has a 52-week low of $52.93 and a 52-week high of $84.38.

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, beating the consensus estimate of $1.16 by $0.07. The business had revenue of $648.90 million for the quarter, compared to analyst estimates of $649.39 million. Ollie’s Bargain Outlet had a return on equity of 12.55% and a net margin of 8.63%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.84 EPS. On average, analysts anticipate that Ollie’s Bargain Outlet will post 3.19 EPS for the current year.

Insiders Place Their Bets

In other news, CEO John W. Swygert sold 5,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $82.57, for a total transaction of $412,850.00. Following the transaction, the chief executive officer now directly owns 48,200 shares of the company’s stock, valued at $3,979,874. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO John W. Swygert sold 11,756 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $75.22, for a total transaction of $884,286.32. Following the sale, the chief executive officer now owns 48,200 shares of the company’s stock, valued at $3,625,604. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John W. Swygert sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $82.57, for a total value of $412,850.00. Following the completion of the sale, the chief executive officer now owns 48,200 shares of the company’s stock, valued at $3,979,874. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,171 shares of company stock worth $2,084,338. 0.87% of the stock is owned by company insiders.

Institutional Trading of Ollie’s Bargain Outlet

A number of hedge funds and other institutional investors have recently modified their holdings of OLLI. Lisanti Capital Growth LLC boosted its stake in Ollie’s Bargain Outlet by 30.6% during the first quarter. Lisanti Capital Growth LLC now owns 74,490 shares of the company’s stock valued at $5,927,000 after buying an additional 17,435 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Ollie’s Bargain Outlet by 24.5% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,954 shares of the company’s stock valued at $315,000 after acquiring an additional 778 shares during the last quarter. ORG Partners LLC bought a new position in shares of Ollie’s Bargain Outlet during the 1st quarter valued at about $28,000. Duality Advisers LP bought a new position in shares of Ollie’s Bargain Outlet during the 1st quarter valued at about $303,000. Finally, Texas Permanent School Fund Corp grew its stake in shares of Ollie’s Bargain Outlet by 1.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 53,905 shares of the company’s stock worth $4,289,000 after purchasing an additional 602 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.